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The Tell-A-Friend Option at The Accounts Payable Network
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Global freight carrier UPS is feeling the heat of high gas prices. According to a recent report published by Bloomberg, United Parcel Service's recent profit report states that profits fell 21 percent during the second quarter of 2008. The main factors cited are the rising cost of fuel and the softening freight market.
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RedRoller Holdings, Inc. recently announced the availability of more powerful order history reporting in its integrated web-based package shipping solution for businesses.
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In an effort to cut costs and restructure its US operations, DHL has struck a deal with its main competitor UPS that will see the German-owned global logistics and express company outsource some flight operations to its rival.
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Outsourcing payables functions can be an effective way to improve efficiency while reducing operational costs. Many organizations also choose to keep freight in house and implement a freight payment software solution.
Both options improve the organization's approval, audit and payment processes.
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The sluggish American economy may be a boon of sorts for shippers, as carriers become more aggressive with their rates.
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Employee fraud is a serious risk all businesses face. According to the Association of Certified Fraud Examiners, businesses lose $638 billion to employee fraud each year. Manufacturing giant SC Johnson recently lost millions in a rate inflation scheme.
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Many companies outsource their freight payables to a third party logistics firm. In the rare instance when a shipper's logistics broker fails to pay freight charges to the carrier, who is responsible for paying those charges? According to a recent federal court ruling, the answer is the shipper.
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FAIMA recently spoke with Dan Van Alstein, Senior Vice President of One-Way Transportation for Schneider National, to discuss rate negotiations from a carrier's perspective.
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In 2006 more than $866 billion in freight crossed the United States border in trade with Canada and Mexico. According to data provided by the U.S. Department of Transportation's Bureau of Transportation Statistics (BST), 2006 was the busiest year for freight shipments between the three North American countries.
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Shippers need to know going into a negotiation what they hope to gain and what they are willing to sacrifice. Armed with this knowledge, shippers will be better prepared to negotiate competitive rates with their carriers.
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Freight Audit and Payment company CTSI is expanding it's global presence, opening facilities in Asia, Europe, and Central America.
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U.S. Bank, the lead bank and subsidiary of U.S. Bancorp recently purchased AIMS Logistics. Under the agreement, AIMS will operate as part of the PowerTrack Payment Network.
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DLT Transportation Services recently announced the successful completion of its annual Statement on Auditing Standards No. 70 (SAS 70) Type II Audit.
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Between 1997 and 2006, C&D Distributors LLC, a South Carolina-based plumbing and hardware supplier, defrauded the Defense Department out of more than $20 million in fraudulent shipping charges, including charging nearly $1 million for two 19-cent lock washers.
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United Parcel Service has launched UPS Delivery Intercept, a new automated service that enables customers to intercept and reroute packages before they have been delivered.
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New RFID chip will allow senders, receivers and inspectors to check the temperature of their shipments at every read point. The technology is helps carriers keep sensitive packages at a certain temperature.
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Apex Analytix, a prominent provider of accounts payable audit services and software is now expanding its offerings to include freight payables.
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A recent SAS 70 Type II audit of PowerTrack reveals effectiveness of the freight payment company's system and internal controls.
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Bob's Discount Furniture, a major furniture retailer in the Northeast United States has chosen U.S. Bank PowerTrack to process its Freight Payments.
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Three of the leading freight carriers have eliminated the Oversize rates on large ground packages and replaced them with a system baced on dimensional weight.
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Anyone involved in freight payment knows that it's never as easy as simply receiving an invoice and sending payment. The following freight audit and payment best practices will help your payables department reduce errors from the moment the invoice arrives to after your vendor has been paid.
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Freight charges can represent up to 5 -10% of a company's total expenses. Fuel surcharges are driving that cost even higher. And shippers are looking to get a handle on the numerous surcharges that are becoming a bigger and bigger share of their freight costs. Therefore, says Gary Oswald, it is imperative that a company's freight invoices be audited.
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