TOTALFreightPay is a unique freight payment service that reduces costs and helps companies gain tighter control of carrier payment operations.
Our payment specialists use LMS' proprietary, Web-native software to receive, audit and pay paper and electronic carrier invoices in the most thorough, cost-effective and efficient manner possible.
Developed by freight payment experts and Internet software engineers, TOTALFreightPay reaches new levels of freight payment Accuracy, Speed and Data Visibility and supports all transportation modes.
Controlling the paper process
Paper invoices challenge even the most regimented payment processes. Although many bills are invoiced and paid using EDI, not all carriers and shippers are equipped to use this technology.
Despite a company's best efforts, many paper invoices are lost, misplaced and misrouted daily. Additionally, a typical freight payables cycle consumes five business days and during this time freight bills are not visible to shippers or carriers.
TOTALFreightPay converts paper invoices into electronic images to facilitate an efficient and visible freight payment process. How do we do this?
Ensuring exact invoicing
TOTALFreightPay technology features a thorough and customizable payment and auditing process designed to guarantee complete invoice accuracy.
The application's table-driven architecture facilitates quick and easy modifications to ensure compliance with a company's individual processing requirements.
TOTALFreightPay employs a unique set of business rules that defines processing requirements at the client level and the client's "Move Code" level - inbound, outbound, inter-facility and third party.
Clients may also specify exceptions by mode or carrier within each business rule. This highly detailed approach provides clients with an unprecedented degree of customization to further ensure invoice accuracy.
All freight bills, including paper invoices, are processed and visible to clients and carriers within 24 hours.
How do we do this?
Most freight payment companies move physical paper invoices in an assembly-line manner - incoming mail, batching, document verification, coding, data entry, and auditing. This is typically a five business-day cycle that incurs administrative time and costs while delaying data visibility.
TOTALFreightPay receives, batches, scans, and images all paper bills on the day of receipt. We then combine document verification, coding and data entry into a single-step, same-day process. Freight payment amounts are compared to system-rated amounts and exceptions are reconciled in auditing.
Faster processing means quicker access to online data. Authorized shippers and carriers can view and download payment data as soon as invoices are processed. (All bills are processed within 24 hours).
- Authorized shippers and carriers have Internet access to freight payment statuses, invoice images, business rules, and associated tables.
- A rich data warehouse supports all ad-hoc and customized transportation/financial reporting.