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Freight Audit: How You Can Mitigate Rising Transportation Costs

freight audit transportation costs

Gas Prices Are Soaring as Inventory Hits All-Time High

According to the latest report from the Logistics Manager’s Index, March was a tough month for shippers. While inventory levels across the country are at an all-time high, transportation capacity is stretched to the max. And with sustained Russian aggression in Ukraine, gas prices continue to rise. On top of that, consumer demand is finally starting to wane. More and more services are starting to re-open, and thus drive demand for goods down. All these factors are now putting companies in a tight spot. Warehouses are stocked to capacity, but businesses are struggling to move products, busting budgets everywhere. Luckily, an expert Freight Audit can help.

How a Freight Audit Works

Zero Down’s Freight Audit Services are powered by our proprietary advanced logistics platform, FreightOptics. Our technology suite connects directly to the carrier websites, through either automatic API or EDI connections. That means the days of manually sifting through paper invoices from multiple carriers are over. Pulling all your shipping data into one central hub, our technology then automatically examines each invoice, line by line, looking for billing errors. We load all your carrier agreements directly into our system to find discrepancies in:

Rates

Weight

Drayage/Storage Fees

Service charges

Discounts

From there, we follow up directly with the carriers to solve exceptions and secure refunds on your behalf. Zero Down’s Freight Audit puts money back in your pocket, letting you and your team focus on what you do best: keeping your customers happy.

Benefits of Freight Audit

At a time when transportation costs are rising, there’s no need to pay more than you should. An expert freight audit can protect you from overcharges, as well as help you hold your carriers accountable for service. While it’s true that supply chains are stretched thin right now, an expert freight audit can provide the visibility your company needs to ensure you’re getting what you paid for. As an added benefit, Zero Down’s Freight Audit Services come with our best-in-class Business Intelligence offering, included for free. With customizable widgets and automatic reporting, our Business Intelligence turns hundreds of lines of data from disparate invoices into simple, actionable insights. Whether it’s demand planning with our high-level heat maps, or exception management with our precise invoice search function, our Business Intelligence offering will help your company see exactly what it’s been missing.

Importance of Freight Audit

There’s no doubt that the past few years have been a turbulent time in the logistics industry. But one trend that the LMI report mentions is the possibility that rising gas prices could lead to a reduction in freight shipments. This could mean that, for the first time in a long time, the market could shift back towards shippers, as carriers look to keep shipments flowing. If that is the case, it could be the perfect time to negotiate new rates. And an expert Freight Audit is the best way to prepare for that scenario. Having accurate visibility into your current shipping profile is the only way to come out ahead in your next round of carrier agreements. Securing those discounts now could help your company maximize profits for years to come. Transportation costs are rising, but that’s no reason to pay more than you need to. An expert Freight Audit can stop profits from leaking out of your supply chain, and save your bottom line. Reach out to us today for a Free Demo, and start saving now. You Can Be Better. We Can Help.