As fleets use factoring companies more and more, the need to transmit accurate information is increasing. To solve this problem, Innovative Computing Corp. applied for and received a patent for a method and system for auditing trucking invoices. The patent for the as-yet-unnamed software gives Innovative a proprietary product that will gather actual and accurate data, such as exact mileage, fuel consumption
As fleets use factoring companies more and more, the need to transmit accurate information is increasing. To solve this problem, Innovative Computing Corp. applied for and received a patent for a “method and system for auditing trucking invoices.”
The patent for the as-yet-unnamed software gives Innovative a proprietary product that will gather actual and accurate data, such as exact mileage, fuel consumption and negotiated rates, from a carrier's Innovative Enterprise Software (IES) system and use that information to validate invoices before they are sent out to a factoring company.
Factoring is when a carrier sells its accounts receivable for a discount to a third-party company, which then attempts to collect the amount owed. The advantage to a carrier is access to immediate cash, albeit at a reduced rate, rather than waiting for a customer to pay. www.innovativecomputingcorp.com
Voice your opinion!
To join the conversation, and become an exclusive member of FleetOwner, create an account today!
What challenges are top of mind for fleet professionals in 2025? Get exclusive insights from the 2025 Fleet Trends Survey and discover where the industry is headed next.
The most successful fleets accomplish more than delivering freight. To accomplish this, fleets need a fuel that’s reliable, more economical and more sustainable. That fuel is ...
Are your KPIs driving real fleet improvement? Learn how to set smarter, data-driven benchmarks, track success like top-performing fleets, and apply proven strategies to optimize...
Learn how eets can enhance truck utilization and minimize safety incidents using business intelligence and AI. Delve into innovative practices, technology integration and real...