Software company Haven, Inc., is introducing two new features that automate freight documents – one that creates an automated bill of lading and another for invoice auditing. The firm said those two new offerings will allow companies to streamline their freight payments and documentation workflows to save time and money.
When customers process shipments within Haven’s TMS of transportation management system, the company said those new features will audit shipment-related documents to ensure that bills of lading and freight invoices are correct.
Matthew Tillman, CEO and founder of Haven, explained that a “large majority” of motor carrier invoices need to be reconciled when the invoice amount does not match the original confirmation provided. “Timely and expensive discrepancies across documents are an issue within the industry, and many companies employ multiple people just to reconcile these invoices,” he said. “We now offer an automated system to detect and flag any discrepancies between the original quote and freight invoice and the shipping instructions and bill of lading, respectively.”
Tillman noted other benefits of the new technology include:
- Cost savings: The average shipper is being overcharged by upwards of 10% of freight costs due to motor carrier mistakes with invoicing. Haven ensures that invoices reflect the agreed-upon rates to save customers money.
- Time savings: Instead of spending hours on checking Bills of Lading and freight invoices, Haven automates the review process so customers can focus on reconciling the exceptions that need attention.
- Quicker corrections: If a bill of lading does not match the shipping instructions, Haven’s TMS automatically requests corrections from the motor carrier, reducing the time involved to get a correct bill of lading in-hand.
“Incorrect bills of lading and invoices have been consistent problems that we noticed across customers,” Tillman added. “The result is a costly reconciliation process for both the shipper and their providers. Our new products solves disputes before they begin, so that customers and their providers can get back to doing what they do best: ship product.”