One of the valuable services LJM Group offers to customers each day is its parcel audit of invoice service. Frequently, invoice errors are missed that add up to thousands of dollars over time. At a time when businesses are adapting to new circumstances, every dollar saved is a dollar earned. They can, in fact, realize gains to their bottom line by recovering money lost on inaccurate parcel invoicing and late deliveries.
It is one thing to be aware of errors and quite another to tackle them on your own. Most businesses do not have the resources to take on this gargantuan task with their existing staff. LJM Group has both the experience and the technology to make it easy for you.
The More You Ship…
While businesses shuttered their doors through Covid-19, e-commerce sales soared while people had no other entertainment nor outlet to buy products from other than their home computers and phones. Although brick and mortar stores suffered greatly through the lockdown period, online ordering trends hit an all-time high. More packages were shipped through the lockdown period than the preceding December holiday season. And more companies are spending large portions of their budgets on FedEx and UPS shipping than ever before. According to ROI Revolution, e-commerce sales rose 18% through the lockdown period. However, many shipments arrived at their destinations late due to diminished labor forces resulting from social distancing rules. Those latenesses mean that many businesses who paid for guaranteed delivery dates are owned refunds. Are you one of them?
Carriers offer service guarantees as explained in their service guides. When they promise on-time delivery, they are promising to deliver by an indicated date or refund your money in full. But do not expect the major carriers to inform you when they owe you a refund, that part falls on your shoulders. They have not made it easy to recover those costs, but that’s just part of what an effective parcel audit is designed to do. LJM Group finds those errors by reviewing thousands of invoices for refunds due to late deliveries and other billing errors.
Other Small Parcel Audit Savings
Invoice Parcel auditors do not exist for late delivery refunds alone. There are plenty of other places where savings can be uncovered with a thorough review by trained professionals:
- Charges for packages that were never shipped. They may have been entered into the system but not sent out.
- Additional charge for a Saturday when package was not shipped on a Saturday.
- Duplication of charges
- Address Mistakes
- Weight Mistake
- Wrong Rate Charge
Handling manual reviews of thousands of invoices is near impossible for most businesses. The labor hours simply exceed the potential value of the refunds. But, handing the labor over to a software trained to identify errors and uncover savings opportunities is a scalable way to actively monitor invoices moving forward and count on those refunds as an addition to the company’s income on a regular basis.
The best part of this plan is not spending any money out of pocket to reclaim your lost money. LJM Group works on a commission basis, only earning our fee as a percentage of what we save you. A parcel audit of invoices puts money back in your pocket without any risk. Take back your lost profits today!