6 Benefits of Audited Accounts Payable Services for Transportation

Managing invoices for most companies can be a daunting process. From ensuring payment accuracy to gaining visibility into spending, the challenges are many. Transportation and shipping invoices are no exception. Wouldn’t it be a relief to have a service to audit your transportation invoices? At Williams and Associates, we offer a solution beyond mere payment processing which provides a range of benefits including:

1. Efficiency

By outsourcing the management of transportation invoices to a service provider, companies can streamline their operations and focus on their core business activities. Audited services ensure that invoices are processed accurately and promptly, reducing the risk of errors and delays. This efficiency not only saves time but also enhances the overall productivity of the organization.

2. Cost Savings

Transportation freight management services help companies identify and rectify billing errors, overcharges, and duplicate payments. By conducting thorough audits of transportation invoices, businesses can recover funds that would otherwise be lost to inaccuracies. This cost-saving measure can result in significant savings, potentially amounting to millions of dollars for large organizations. In 2023, Williams and Associates saved our clients a total of more than $40 million!

3. Enhanced Visibility

By leveraging sophisticated reporting tools, companies can gain insights into their spending patterns and identify areas where costs can be reduced. This visibility allows companies to make informed decisions regarding their transportation budget.

4. Compliance

Audited accounts payable services ensure compliance with contractual agreements and regulations. By verifying that payments are made by contractual payment terms (not too early, and not too late), we can help companies avoid costly penalties and legal disputes. This compliance also extends to cost allocation, ensuring that expenses are allocated correctly.

5. One-to-Many Payments

Automated transportation auditing services streamline invoice payments. All your invoices should come directly to your service provider, who audits them for accuracy and pays each one – you make one payment for the service instead of many! A good partner will provide payments via ACH transfer, check or credit card.

6. Cost Allocation

Audited accounts payable services can also help businesses allocate costs accurately across different departments or projects. This is particularly useful for businesses that operate in multiple locations or have complex cost structures, as it helps ensure that costs are allocated correctly and transparently.

By outsourcing invoice management to experts, companies can streamline their operations, reduce costs, and gain valuable insights into their spending. These services not only ensure compliance with contractual agreements but also provide a competitive edge in the marketplace.

At Williams and Associates, we take a more hands-on approach with the 4000+ carriers we work with to proactively resolve or mitigate billing issues. We’re always only a phone call or email away.

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Post by Ryan Williams
Apr 23, 2024 9:00:00 AM

As the CEO of Williams and Associates, Ryan brings extensive experience collaborating with partners in supply chain networks, finance, operations and IT, both internationally and domestically. He’s worked between freight carriers and customers to establish KPIs and develop carrier scorecards, as well as performing time-sensitive analyses to prioritize workload and identify risks to improve performance. Ryan enjoys riding bike and being in nature.