Minnetonka, MN, October 23rd, 2024 – Navix has partnered with Buchanan Hauling & Rigging to provide an automated freight auditing solution. Buchanan, a growing $350M transportation and logistics company based in Fort Wayne, IN, offers a full menu of trucking options across North America. Through this partnership, Buchanan will be able to accelerate its growth without the need for additional back-office headcount by reducing the manual touch points across the audit process. This automation and real-time intelligence will allow Buchanan to improve profitability and growth by means of shorter DSO (days-sales-outstanding) leading to increased working capital.
Prior to Navix, Buchanan managed its freight audit process via its TMS system. While effective and more efficient than manual auditing, this process still required user uploads and visual cross-checking for matching invoices and duplicates. With AI and machine learning solutions from Navix, the Buchanan team will be able to automate much of the audit process without the need for human oversight. Navix also delivers reporting and business intelligence that provides insight into opportunities that can create further efficiencies.
By automating document ingestion and establishing dynamic business rules that push vendors invoices through to payment, carriers of Buchanan will benefit from faster payments – all with increased accuracy and faster dispute resolutions. By shortening this cycle, Buchanan customers will also see prompter invoicing closer to actual delivery dates which will help manage their own cash flow. With accurate error-processing and integrated dispute communication tools, all parties in the Buchanan supply chain will benefit from this automated process.
“We are excited to complete the implementation with Navix and streamline our operations by automating tasks such as document ingestion and categorization, order matching and rate auditing”, said David Francis, Chief Financial Officer at Buchanan. “By leveraging advanced technology and data analytics we anticipate a much faster order-to-cash cycle that will contribute directly to increased working capital. Navix not only improves our efficiency but also enhances our team’s accuracy and provides a more transparent process. This partnership allows us to respond more swiftly to our customer needs, ensuring we maintain our high standards of service while fostering innovation within the company. I am excited about driving excellence in our processes and to better foster growth without adding unbridled cost to our structure.”
Freight audit and invoicing has been a constant challenge in the logistics industry. Most companies have responded by increasing their staff or outsourcing the process which presents numerous risks and challenges. However, with Navix, companies like Buchanan are realizing they can take an innovative approach and as a result, scale profitably, optimize their operational efficiency, and improve their customer and carrier relationships.
“This partnership with Buchanan underscores the innovation and transformation we are bringing to the freight industry”, said Eric Krueger, Co-Founder and CEO of Navix. “Like all of our other clients, we know that the quickest road to growth is through Navix. With Buchanan on this same path, we know they will experience the same kind of growth.”
About Navix
Navix automates freight audit & invoicing for freight brokers and 3PLs easily and delivers results immediately. Navix reduces the order-to-cash cycle by a minimum of 3 days, which improves cash flow that can be re-invested in your organization. Navix uses machine learning and AI to flag errors instantly and enable auto resolutions, and easy disputes without having to search for a single pdf, invoice, or document. This enables workers to perform more efficiently and effectively and allows them to focus on the growth of their business. For more information, visit https://www.navix.io
About Buchanan
Established in 1996 by Geary Buchanan, Buchanan Hauling & Rigging has evolved from operating just one truck to becoming a prominent player in the transportation sector. His vision was to outwork and out-perform the competition by providing superior transportation at a fair market rate, building long-term successful partnerships, and offering high-quality employment opportunities to drivers and owner-operators. This dedication to providing excellent service, competitive pricing, and ongoing enhancement has fueled Buchanan’s exponential growth and recognition. For more information, visit https://www.buchananhauling.com/
Press contact:
Eric Krueger
eric@navix.io