Transportation & Logistics

Digitize the back office, accelerate operations

Carriers and third-party logistics providers (3PLs) face an overwhelming array of transaction documents and struggle to settle payments within tight deadlines.

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Benefits

Reconcile all transaction records using Applied AI

Free up time in AP and eliminate losses to fraud, duplication, and overbilling. Issue highly accurate invoices to customers to avoid disputes and accelerate collections.

Free up resources for valuable work

Escalating costs make front-line productivity even more important across the business.

Free up workers across G&A and operations from low-value keying, transaction processing, and disputes.

Product Overview

Optimize
working capital

Improve cash flow by optimizing payables and receivables.

Free up working capital by quickly matching invoices to contract terms, giving the flexibility to stretch payments and increase DPO or pay early to realize discounts. Avoid revenue leakage, customer disputes, and collections delays by using AI to ensure highly accurate billing even with complex contract terms.

Working Capital

Ensure accuracy to boost margins

Escalating labor and fuel costs squeeze margins.

Use OpenEnvoy’s AI-powered platform to reconcile complex shipper invoices against transaction records including detention, demurrage, and day-of conditions including tides. Reconcile all types of invoices against purchase orders (POs), contracts, and transaction records. Eliminate losses to fraud, duplication, and supplier overbilling to reduce non-headcount spend.

Freight Audit

If we fall behind with ocean carriers, we could be faced with credit holds. This means we essentially pay up front and go to the vendor after to clawback any overpayment or duplicate payment, which is, requiring time-consuming and takes employee resources. It was a two-fold problem.