Freight Payment Systems: Logistics Leans Towards Software
By Vinod Muppala, Senior Research Analyst, Software and IT Services
Shippers spend an average of 54% of total logistics expenditures on transportation and large manufacturing and distribution companies will have multiple shipments through multiple carriers in a day. Managing freight audit and bill payments are key challenges in today’s business scenario.
Some challenges are:
- Errors, duplication and reducancy of freight bills
- Audit process is done manually through spreadsheets
- Freight payments not processed on time
Software vendors and third-party logistics providers have built necessary freight payment systems which can automate the payment and audit process and reduce errors, duplication and redundancy. Even the process of freight payment is quick and ontime.
Software vendors provide freight payment systems as a module in transportation management systems.