For any freight broker or Third-Party Logistics provider (3PL), selecting the right software to help manage the day-to-day operations of the business is pivotal to success. As a 3PL or broker, you understand the importance of efficiency and accuracy in your operations and how this can impact carrier satisfaction and the financial health of your business. One of the most important areas where that 3PLs and freight brokers should invest is in the adoption of freight audit and invoicing software. However, selecting the right software is not always an easy task. In this article, we will delve into the five crucial factors you should consider when choosing freight audit and invoicing software. We will also highlight how Navix, with its AI-powered intelligent document processing, can be the solution you have been searching for.
Integration Capabilities with Carrier Portals
Efficient logistics operations rely on seamless communication with carriers. When evaluating 3PL software, assess its integration capabilities with carrier portals. Navix excels in this aspect, offering seamless connectivity to carrier systems. This ensures real-time data exchange, allowing you to track shipments, access rate quotes, and manage documentation effortlessly, while also using the data to optimize your business operations.
Accuracy of Invoice Processing
Precision in billing and invoice processing is paramount to avoid costly errors and disputes. The freight industry has long accepted a 20-25% error rate in invoicing as the norm. These errors and discrepancies have a negative impact on days sales outstanding (DSO), cash-flow and carrier satisfaction. Navix‘s AI-powered intelligent document processing is designed to enhance accuracy significantly and can reduce error rates to nearly zero percent. It automates extracting and verifying critical data from invoices, reducing human errors and ensuring that your invoices are always spot-on which will reduce your DSO by greater than three days
Scalability for Growing Logistics Operations
Your 3PL and freight broker business may be growing, and your software should grow with you. Navix can help you scale profitably without having to incur the cost of additional headcount Whether you are handling more shipments, clients, or data, Navix can adapt to meet your evolving needs, ensuring that you stay ahead of the game.
Customization Options for Specific Billing Needs
Every shipper and carriers has unique billing requirements. Navix understands this and provides customizable options to cater to your specific needs. Whether you require specialized billing rules, reports, or workflows, Navix allows you to tailor the software to your exact specifications, ensuring a seamless fit for your business.
Cost-effectiveness and ROI Potential
Investments in technology must demonstrate a return on investment (ROI). Navix not only streamlines your operations but also delivers cost savings. By automating manual tasks and minimizing billing errors, Navix reduces operational costs and enhances your bottom line and improves cash flow. When looking for the right freight audit and invoicing software, it is advised to consider the long-term financial benefits it will have on your business.
Leading freight brokers and 3PLs are embracing automation in their business and using it to automate your freight audit and invoicing process is another means of improving business growth. Navix offers a solution delivers integration, accuracy, scalability, customization, and cost-effectiveness. As a 3PL or freight broker, you must consider these factors. Make an informed choice and propel your freight business to new heights with Navix.