Looking for ways to reduce shipping expenses but not sure where to start? Lojistic’s free cost savings automation and shipping analytics platform automatically identifies cost reduction opportunities for UPS, FedEx and DHL shippers. Whether it's through Audit & Refund Recovery, optimizing Air vs Ground shipments, mitigating surcharges, getting better shipping rates, eliminating errors and overspend or others, Lojistic provides a clear path to shipping cost reduction.
What Can You Learn From This Post?
- A free invoice management solution from Lojistic
- General Ledger (GL) coding with Lojistic
- Costs for processing shipping invoices
How can Lojistic help save time and money?
In addition to the hard-dollar cost reduction opportunities your Lojistic account is designed to identify and highlight, the most significant soft-cost savings is time. Time is the one thing you can never get back, or make more of. Lojistic can save your team tons of time each week by processing your shipping invoices for you.
When Lojistic manages your carrier payments on your behalf, you simply review and approve a single funding request on a weekly basis versus sifting through all the pages of confusing invoices you currently receive from UPS, FedEx and/or DHL. Time savings and invoice management is one of the main reasons Accounts Payable pros love Lojistic so much!
For those who qualify for our bill payment services, we’ll manage the carrier payment process at no additional cost when you use our Audit + Recovery solution. We call it ReadyPay. And for those who are approved to pay their carriers by credit card, we waive our service fees entirely - meaning we provide our Audit + Recovery + Pay service at no cost to you. Learn more here.
Lojistic Can Code Your Shipping Costs Too
Lojistic will automate your GL coding according to your specific accounting rules. We wrote about all the benefits of GL coding here. And if you have us managing your carrier payment process, all you have to do is review one invoice per week. Consolidate all the time your team spends on processing carrier invoices and reduce it to a single weekly ACH push. Lojistic will take care of the rest.
How Much Does It Cost To Process a Shipping Invoice?
- The average cost to process a single FedEx, UPS and/or DHL invoice is $12 - $35
- The average time spent per week processing shipping invoices and manually entering general ledger codes is 30 minutes - 2 hours
- Inaccuracies and billing errors found on UPS/FedEx invoices represent 1% - 3.5% of the total invoice amount
Add all of this adds up and your business is most likely spending hundreds or thousands each month just processing and paying your carrier invoices!
That’s a lot of “soft cost” time and money dedicated to managing shipping invoices. Many businesses don’t account for these types of expenses when considering ways to reduce their overall shipping spend.
Could your business use a few hours of staff time back each week? Use Lojistic’s Audit + Recovery + Pay service. We’ll ensure all of your shipping invoices are audited, accurate AND paid on time, helping you avoid carrier late payment fees.