Small Parcel Invoice Auditing
The Importance of Auditing your Carrier Invoices
As a business owner, you are always looking for ways to save money and cut down costs. One area that often goes overlooked is shipping costs. Shipping can take up a significant portion of a business's budget, especially if they are using small parcel carriers like FedEx and UPS. In fact, shipping can cost up to 5-10% of a business's total revenue. That's a hefty amount, which is why it's important to audit your small parcel carrier invoices.
What is Small Parcel Invoice Auditing?
Small parcel invoice auditing refers to the process of reviewing and verifying a carrier's invoice for accuracy and errors. This is done by comparing the invoice to the actual shipping data to ensure that the charges billed are correct. Small parcel carriers are known for billing errors, which can occur for a wide range of reasons such as incorrect address, wrong zip code destination, or misplaced packages.
Why is Small Parcel Invoice Auditing Important?
By auditing your small parcel carrier invoices, you can catch any of these errors and potentially save your business a substantial amount of money. It is possible in some unique situations for businesses to save up to 10% on their small parcel shipping bills by auditing their carrier invoices.
Benefits of Small Parcel Invoice Auditing
- Saves Money: As mentioned earlier, by auditing your carrier invoices, you can catch any billing errors. This can save your business a lot of money in the long run.
- Increases Efficiency: Audit reports let you know where and how your small parcel carrier is performing so that you can streamline your carrier usage.
- Provides Insight: Invoice auditing reports provide a wealth of information regarding where, when, and how you are using your carriers. This insight can be used to make informed decisions about future shipments.
How to Perform Small Parcel Invoice Auditing
Small parcel invoice auditing can be a time-consuming and tedious task, especially for businesses with a large volume of shipments. However, there is a solution available. Automation technology, such as the software offered by ShipMatrix, can take the hassle out of the auditing process by streamlining it into a single, easy-to-use platform. This technology automatically audits invoices and provides you with a comprehensive report that highlights any discrepancies.
Conclusion
Small parcel carrier invoices can be a significant expense for businesses, which is why it's important to audit them regularly. By doing so, businesses can catch billing errors and save a substantial amount of money. Not only does small parcel invoice auditing save businesses money, but it also increases efficiency and provides valuable insights into carrier usage. As a result of the benefits of small parcel invoice monitoring, businesses may want to consider implementing auditing technology like the software offered by ShipMatrix to streamline the auditing process.
