In today’s era, e-commerce businesses are ruling the world. You can surely make a fortune out of a small business if you manage to run it successfully. However, there are various challenges that a business owner must face to set up an e-commerce business and oversee its operations.
One of the most significant aspects of running a business smoothly is to keep the finances under check and control. So, if you are a business owner then, you must remain alert about your investments.
Freight bills are one of the reasons why various e-commerce companies lose huge sums of money each month. You are obligated to pay the courier/carrier service providers the agreed shipping charges after delivering your products to the customer. However, most times, e-commerce companies pay the courier service providers more money than they should due to multiple errors that often occur in the freight bill.
Now, to manage the thousand plus invoices, you need a comprehensive report that systematically categorizes each detail mentioned in the invoice. For this, a bill-checking freight audit report is crucial for your online store to thrive.
Without a detailed audit report, you could play into the hands of the courier company. You don’t have to lose your hard-earned money by paying extra for freight bills which is why getting an audit report is super significant for your business to generate sizeable revenues.
Common mistakes that occur in freight bills:
Several mistakes can occur in freight bills causing a massive dropping in profits in the e-commerce companies.
Accessorial fees include the charges rendered for providing additional services that surpass the standard delivery service. The shipper may consist of charges for out-of-route miles, detention, oversized package, driver assist, lift gate, redelivery, yard pulls, etc. More charges could be included in the invoice for several accessorial services. Therefore, it is best to watch out for these dues. Miscalculations often occur while sorting out the accessorial charges. So, you must check them out carefully.
Base rate is determined for shipping a consignment from one location to another. Making mistakes in calculating freight dues with the correct base rates could cause over-charging.
Incorrect freight classification:
Incorrect freight classification plays a major role in miscalculations. The errors made in determining the correct dimensions, weight, and density of the package, etc., can add quite a bit of money to your freight invoice.
Duplicate freight bills:
Duplicate freight bills cause confusions that could make you pay twice or more for a single shipment. Errors like these are common and should be identified in time to avoid overpaying the shipment company.
Incorrect input of data:
Incorrect input of figures added to your freight invoice from the shipper’s side could cause you to pay extra charges that you are not obliged to pay at all. Many other errors besides the ones we discussed occur in the freight bills. If you wish to counter any problem that might come up in your invoice then, you must get a freight audit report regularly.
How to get freight auditing done?
To get a freight audit report for your freight bills, you would need to either put together a team of specialists who would do freight auditing in-house or hire a third-party service provider that would do the work for you. The third and easiest option would be getting freight auditing software.
Doing audits in-house would be challenging and time-consuming. Your team would have to double-check everything line by line and identify errors, still leaving room for mistakes to occur. However, you could hire the services of a company that specializes in freight auditing. But would you be able to bear the expenses?
Well, it wouldn’t be profitable for business owners to hire expensive services of a third-party for bill checking freight audit when you could do it yourself in-house using freight auditing software.
Freight auditing software tool is the most efficient way of checking thousands of invoices within seconds, and you don’t need to put together a special team of experts to do this or pay extra cash to others for taking care of your freight bills.
What software should I use for freight auditing?
There are many software tools available in the market that you could use for freight auditing. However, Freight Squirrel is one of the top software tools to use for this task. Freight Squirrel allows you to sort out thousands of your freight bills within 4 seconds. In short, it’s fast, efficient, affordable, and convenient.
As an e-commerce business owner, you must keep track of your shipments and freight invoices. Auditing is an essential aspect of business that maintains and regulates your profits. Therefore, you must get a freight audit report for your freight bills.