R
eedTMS Logistics is an asset-based third-party logistics provider headquartered in Tampa, Florida with offices in 10 cities in the U.S. “McLeod’s
Advanced Billing & Settlements is saving us a lot of time, improving our cash flow, and saving us money,” says Mark Reed, president. “It has been a huge improvement.”
• McLeod made it possible to separate customer billing from carrier settlements. “Prior to implementing McLeod, we had to touch every invoice because the TMS we were using required this. Once McLeod came along, one of the first things we did was separate billing to the customer from settlements to the carrier on each load. This took a leap of faith for us. We were very reluctant at first, because the connection between billing customers and paying carriers had been our control mechanism. We always knew that when we billed the customer we also processed the carrier’s settlement so we could confirm that everything was handled on that shipment. What came out of the changeover to McLeod was that we separated those two transactions.”
McLeod’s Rendition Billing without any manual attention on our part. As soon as the load delivers, the invoice goes out the door. Even though a small percentage of our overall customer base allows us to bill without paperwork, these invoices make up a large percentage of our volume, because the BWOP customers are our larger, contracted shippers.”
• We’ve cut five or six days from our DSO. “Before using Billing & Settlements it took us 7–10 days on average to get a bill out the door. Now with all of these BWOP customers, the bills are going out instantly. We’ve cut five or six days out of our DSO simply because we’ve been able to bill on delivery date with the BWOP customers.”
• Staff productivity is up. “We have the BWOP customers set up with Rendition Billing, so there
• We can now bill some customers instantly through the Advanced Billing & Settlements workflow tool. “A large percentage of our volume comes from customers who will accept our invoices without any paperwork attached. BWOP customers—those customers who allow Billing WithOut Paperwork—can be billed through
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isn’t a need to touch every invoice that goes out the door. That is saving us a lot of time. We’re able to get more done with the same number of staff, because we’ve eliminated so much manual labor.”
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