The core benefits of the 7bridges Audit product
Complete visibility of logistics costs and performance
By gaining comprehensive insights into all logistics-related expenditures and operations, businesses can effectively monitor and analyse their logistics costs and performance. This full transparency enables decision-makers to make informed choices, enhance budgeting accuracy, and pinpoint potential cost-saving opportunities. By having a clear understanding of all aspects of their logistics operations, organisations can streamline processes, optimize resource allocation, and ultimately drive efficiency and effectiveness in their supply chain management.
Recovery of costs through credit notes
By automatically receiving credit notes for any incorrect shipping charges, businesses can rest assured that they are only paying for what was accurately and rightfully billed. This proactive approach not only safeguards your financial interests but also helps in maintaining transparency and fairness in your logistics expenditure. By rectifying billing errors promptly, organisations can uphold financial integrity and ensure that their budget allocations are aligned with the actual services provided.
Enhanced understanding of logistics contracts
Having a clear and detailed understanding of your logistics provider contracts is crucial for ensuring that the terms are favourable and align with your business objectives. By thoroughly reviewing and analysing the contract specifics, you can identify any gaps or inconsistencies that may impact your logistics operations and costs. This proactive approach not only helps in negotiating better terms with your providers but also allows you to make informed decisions regarding your logistics partnerships. With a comprehensive understanding of your contracts, you can mitigate risks, optimise service levels, and effectively manage your logistics expenses.
Understanding contracts 'leakage'
Identifying areas where your logistics activities are "out of contract" is essential for maintaining control and visibility over costs. This can include instances where specific lanes or services are not outlined in your contract, leading to unexpected charges or discrepancies in billing. By pinpointing these discrepancies, businesses can take proactive steps to rectify the situation, negotiate better terms with their providers, and ensure that all logistics activities are aligned with the agreed-upon contract terms. This level of scrutiny helps in avoiding unnecessary expenses and optimising cost management within the supply chain.
Streamlined Accounts Payable (AP) process
By implementing a streamlined accounts payable process specific to logistics, businesses can simplify and enhance the efficiency of their financial operations. This streamlined approach not only saves time but also reduces the administrative burden associated with managing and processing logistics-related payments. By automating invoice processing, reconciling accounts, and managing payments, organisations can experience a smoother workflow and faster processing times, ultimately improving overall financial management within the supply chain. This enhanced efficiency allows for better cash flow management and more accurate financial reporting, contributing to the overall effectiveness of the logistics operations.
Identification of Improvement Opportunities
By leveraging detailed audit findings, businesses can effectively identify specific areas for improvement within their logistics operations. These findings provide valuable insights into inefficiencies, bottlenecks, and opportunities for optimisation. By implementing these improvement opportunities, organisations can continuously enhance their logistics processes, leading to increased efficiency and effectiveness in overall logistics management. This ongoing enhancement process ensures that operations are constantly evolving to meet the changing demands of the supply chain, ultimately driving optimal performance and cost-effectiveness.
Flexibility and ease for logistic service providers (carriers)
The platform is designed with carriers in mind, making it easy and flexible for them to interact with and adhere to the audit processes. This user-friendly approach not only ensures better compliance and smoother operations between you and your transport providers but also fosters strong partnerships and collaboration. By providing carriers with a seamless and efficient experience, the platform enables them to easily navigate through the audit procedures, submit necessary documentation, and address any discrepancies in a timely manner. This level of flexibility and ease for carriers contributes to improved communication, trust, and overall performance within the logistics network, ultimately leading to enhanced efficiency and cost-effectiveness in supply chain management.