Parcel BI is a business intelligence software designed to help businesses across many industries manage their parcel spend by identifying opportunities, exposing errors, and reducing costs. Manufacturers tend to have tight margins and a lot of repeat business. Parcel BI can help manufacturers expose costly mistakes that they make repeatedly as well as negotiate a more competitive contract for lower overall costs.
Last year, one of our clients discovered Parcel BI when they were trying to improve their business by reducing their parcel budget. They had been loyal to one carrier for over 20 years and thought that this carrier was trustworthy and felt they had a healthy relationship with their carrier.
However, after trying Parcel BI, they exposed many areas where they were being overcharged, mischarged, and more. They realized they were bleeding money and the carrier they saw as a great partner was doing nothing to bring it to their attention.
This customer took advantage of our invoice analytics tools in order to expose multiple surcharges and address correction fees. In the photo below, you can see a significant drop in charges right around the time they started using Parcel BI.
Now, they have improved their processes, and they literally cut their accessorial charges in half.
Using our audit services, this manufacturer was able the save more than enough money to fund their subscription with Parcel BI with the refunds from their carrier. Audit should not be where you focus your attention, but after you clean up processes, it is certainly something all shippers should do.
Our Contract Edge tool was able to help this customer negotiate better contracts, which helps them keep their parcel budget lower. They experienced over a 20% reduction in spend by changing to the carrier they never thought they would use. Now they have insight into their data and the process and can make sure that whoever they decide to give their business to, that they will behave like a partner.
If you are interested in learning more, contact us at Parcel BI and visit our video library to see more of our tools and success stories.