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Freight auditing is a profitable way for your business to recoup lost shipping spend. To see these gains, simply engage a professional company that uses distinct software and industry expertise to review your carrier invoices to find billing mistakes.
These errors can be costly, and the best freight auditing companies will offer a proficient team of shipping-industry experts to evaluate your parcel invoices, line entry by line entry, for each carrier and each mode you dispatch, watching for errors that have led to overcharges and any other recoverable expenses. Their team identifies mistakes in your carrier bills and reaches back to the carriers on your behalf to recover credits which are owed to you. It’s that easy!
Let’s face it: almost every freight invoice will contain errors and miscalculations. Maybe a shipment was late, and you weren’t credited for it. Other common mistakes include void accessorial costs, wrong classifications, repeat charges, wrongly calculated service-level bankruptcies and tariff weight breaks. Carrier invoice mistakes are challenging to detect, and very few companies have the internal resources or the expertise to audit their own invoices. Some shippers resort to “spot-checking,” but this is grossly inefficient and will lead to many lost opportunities for refunds. As a result, many companies are overpaying their freight carriers.
A freight auditing company conducts a detailed audit of your parcel invoices, searching for all the audit points mentioned above—and many more. Proprietary software integrates with the API of your carrier and can help your auditor perform data-driven analyses that turn over every stone. Your auditing company will reach out weekly and request credits from your freight carrier on your behalf. The credits will show up on your next invoice.
At LJM Group, we make a freight invoice audit painless and profitable, so you can focus on your business at hand while reaping the benefits of our intelligent software while you sleep.
Our expert contract analysis, combined with unmatched benchmarking and forward-thinking long-term strategies ensure you successful rate negotiations.
Gain insight, and overcome hidden costs, through our analysis of all accessorial fees that the Carriers may charge after delivery to verify final, accurate shipping costs.