by Eric Krueger | Nov 7, 2023 | Accounts Payable, Accounts Receivable, Automation, Blog, Carrier Satisfaction, Cash flow, DSO, Freight Audit & Invoicing
Most freight brokers and third-party logistics providers (3PLs) are well aware of the slim margins that exist in the logistics business and that streamlining financial operations is key to organizational health. A key part of financial stability is managing accounts...
by Chad Selix | Nov 1, 2023 | Blog, Carrier Satisfaction, Cash Conversion Cycle, Cash flow, DSO, Freight Audit & Invoicing
It has long been accepted by third-party logistics providers (3PLs), freight brokers, carriers, and shippers that invoicing errors are just a part of doing business. Multiple research reports state that up to 25 percent of all freight invoices have some kind of error....
by Tom Schubert | Oct 26, 2023 | Blog, Cash Conversion Cycle, Cash flow, DSO, Freight Audit & Invoicing, Real-Time Analytics
Ask any executive in any industry and one of their primary goals is growth. The same goes for freight brokers and third-party logistics providers (3PLs). Even with all of the turbulence in the logistics industry, the logistics industry is still highly competitive and...
by Tom Schubert | Sep 7, 2023 | Blog, Cash Conversion Cycle, DSO, Freight Audit & Invoicing, Technology
In any business, cash flow is king, this is especially true for those in the logistics space. With the economic uncertainty and the impact that it has had on the freight market, it is imperative for every organization to improve their cash position. One...
by Eric Krueger | Aug 30, 2023 | Artificial Intelligence, Blog, Cash Conversion Cycle, DSO, Freight Audit & Invoicing, Real-Time Analytics
“If you can help reduce our days sales outstanding (DSO), that will be a big win.” This is what I heard recently from the Director of Finance for a freight broker. At the time of our conversation, he had a DSO of more than 47 days and as a...
by Eric Krueger | Aug 22, 2023 | Blog, Cash Conversion Cycle, Freight Audit & Invoicing, Metrics, Real-Time Analytics
Maximizing revenue growth is a top priority for most logistics companies to achieve long-term success. But how can companies ensure that their current operations and strategies are best positioned to achieve those goals? Measuring and tracking specific metrics is the...
