Have you conducted a "new look" freight audit recently?

Did you know that the Third Party Freight Payment Industry acknowledges that a post audit makes sense? Did you know that your freight bill processing and carrier negotiations can be optimized at no charge to you?

A freight bill post audit is a useful tool for finding out where problem areas may lie, and can point out weak areas in the payment or processing flow of your freight payment practices. By getting a post audit done, you’ll know just exactly how well your payment process and carriers are performing for your company.

Second post audit recovery services by Freight Revenue Recovery of Miami (FRRM) can help your business save hundreds and even thousands of dollars each year by examining and critiquing your freight carriers contracts, negotiations and payment processing. Are your carrier's invoices and fees all properly billed?

FRRM provides a great way to recover any revenue lost to the carrier's inadvertent overcharges. As we all know, errors can slip through even the most sophisticated payment processes. This is where the FRRM post audit process for paid freight bills comes in.

If you haven’t conducted a freight post audit, or performed a second post audit recently, or never conducted one, it’s time to do so. In these difficult economic times, every dollar counts and FRRM is here to help you improve the process.

The Post-Audit Process: A look at what our auditors examine - Part 2

In our last blog post, we launched the first of a three part series that looked at the post-audit process. This week we continue the three part series by taking a close look at essential steps that auditors at Freight Revenue Recovery of Miami (FRRM) taken when recovering overcharges. 

1. Is the currency correct? If other than US pricing, check sources for proper conversion.
2. Accessorial /add on charges: Are they proper and legal in terms of the contract in place? Why has carrier assessed detention charges? Why are port charges being assessed on a domestic move? Why are carriers assessing GST/QST charges on cross border movements? 
3. Fuel Surcharges: Is the fuel surcharge component correct? Check other published sources for comparative pricing including established federal guidelines. There should be separate formulas used for TLTL versus Truckload shipments. 
4. LTL Discount Programs: Are they correct in terms of the contract? Are they being misapplied because of joint line hauls with other carriers? Discounting off of what base structure can make a tremendous difference.

FRRM has many base formulas loaded in our system to make sure we get our clients the largest refund guaranteed.

Next week, we will conclude our three part series of what is examined in the Post-Audit process. 

The Post-Audit Process: A look at what our auditors examine - Part 1

This week we launch the first of a three part series of an in-depth look at the post-audit process. We will share with you what our auditors at Freight Revenue Recovery of Miami (FRRM) typically examine when conducting a post-audit. 

1. Carrier Vendor: Is this an approved carrier vendor? If not, is this a legitimate based operator carrying the required industry level insurance? Are they licensed for intra or interstate carriage of goods?
2. Terms of Shipment: Prepaid or Collect: Is your business truly responsible to pay these freight charges?
3. Description of Goods: Check online sources for B/L’s of PO’s to ascertain if properly described.
4. Base Price Charged: Is it in full compliance with the contract in place? If no contract is in place, are the charges in line with other comparative shipments in the industry? Why were goods moved in two trailers in one day to the same customer and assessed higher charges when they could have been combined?

FRRM has many base formulas loaded in our system to make sure we get our clients the largest refund guaranteed. 

Next week, we’ll continue with part two of what is examined in the Post-Audit process.