Oracle Transportation Management’s Freight Payment, Billing and Claims application allows you to gain control of your transportation and logistics operations while minimizing costs and improving efficiencies.
The solution enables Shippers and Logistics Service Providers (LSP’s) to manage the customer service and profitability dimensions of their logistics orders. It also supports the audit and payment of freight bills and accessorial charges for their shipments by either the Match & Pay or Rate & Pay method to efficiently process freight invoices. The solution has the capability to segregate the operational (buy side) nature of shipping orders from the commercial process (sell side).
Automate Processes to improve efficiencies and Reduce Cycle Time
Freight Payment
Companies can realize significant cost savings by implementing procedures to automate many of the manual activities associated with freight bill payment and audit. You can perform detailed audits on carrier freight bills, validate bills, and reduce costs by identifying billing discrepancies.
Oracle Transportation Management supports in-house auditing and integration with third-party auditing firms. Freight bills can be received electronically from the service provider, entered manually, or entered via a Web portal directly into the application. Freight bills are automatically matched against actual shipment details and audited based on user-defined tolerances. Freight bills within tolerance are approved and automatically interfaced to any Accounts Payables system for payment and cost allocation. You can also send shipment information to third-party audit firms if you outsource this function. Discrepancy reporting is also available, allowing you to view freight bills that failed audit and the related discrepancy reason with automated workflow to route the transaction to designated parties.
Freight Billing
Oracle Transportation Management also supports customer billing. From a simple internal bill to the most complex markup models, the solution provides the most comprehensive and secure billing available, and includes these capabilities:
- Supports door-to-door and cost-plus billing models
- Separates contracted rates from actual costs
- Offers comprehensive real-time reporting and advanced analytics
- Covers all aspects of transportation rate contracts, discounts and accessorial charges covering all modes and geographies
Freight Claims
Oracle Transportation Management incorporates claim identification and management functionality into the industry-leading logistics execution software platform. This means that, in addition to full logistics planning and execution, Oracle Transportation Management’s Web-based platform can be used to:
- Enter, submit and track claims for goods damaged in-transit
- Use Web services to create a claim in Oracle Transportation Management from an external system
- Identify and communicate with all involved parties
Oracle Transportation Management pre-populates any claim with the relevant details from existing orders and shipments, ensuring weights, volumes, counts and financial values are correctly identified. The solution incorporates full transportation financial capabilities, from cost allocation to invoice matching and settlement, any charges related to claims can be tracked and processed accordingly.