• Our cash flow has improved substantially. “By separating customer invoices from carrier settlements, we’re billing faster across the board because we’re no longer waiting to get the invoice from the carrier. Getting bills out faster means that we’re getting paid faster, which clearly helps improve our cash flow. But that’s only part of the story. Now that we don’t need the carrier invoice before billing our customers, we can work with carriers on their schedule. We pay carriers when we get their invoices, but we no longer prompt them to send the invoices to us so quickly. We’ve picked up roughly 10 days of improved cash flow. This means that we now have significantly more cash to work with on a daily basis.”
• We’ve used the workflow tool to catch mistakes and ensure all charges are included. “The Billing & Settlements tool is configurable in a variety of ways, so we’ve designed the workflow to catch mistakes before a bill goes out. We recognize that in our fast-paced world, it’s easy to forget to include an accessorial charge on the bill or to make an
If the invoice amount is outside of that range, the load gets kicked back for a dispatch check before it can be processed for billing. This way the system monitors the billing amounts so that a customer doesn’t receive a bill for $10,000 when it should be $1,000, or vice versa.”
• We use a daily report to monitor billing issues. “Part of the automated work generated by Billing & Settlements is a daily report that shows all of the loads that have issues. The report includes a description of the reasons that each load is on the list. This helps us manage by exception and focus our attention only where it’s needed. We’ve been tracking the length of time that loads stay on this list, and for the most part, we’re able to address the issues and clear each load from the report within a day or two and get the bill out the door.”
• We no longer lose money to billing errors or need to apologize to customers for a billing mistake. “Before having McLeod, we didn’t have an efficient way to catch our billing errors, so the bills
error when entering the order. If the invoice should include a charge for a truck order not used or for detention, the system knows this and tags the order so that the charge is included before the invoice goes to the customer. We couldn’t force this to occur with our previous TMS, which meant we ended up having short-pays and write-offs. We also set upper and lower limits on revenue and margin for loads.
were going out without all of the charges or with other errors, and the result was that we were losing money. There were also occasions when we were embarrassed by having a customer complain about a bill that was clearly wrong. These problems don’t happen anymore. Billing & Settlements has fixed all of that for us.”
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