Parcel BI is a business intelligence tool that helps companies who ship with UPS®, FedEx®, and other parcel carriers, understand the cost of the whole picture. There's a lot of data involved in parcel shipping, and it's very cumbersome to try to get your arms around.
Audits are one way to help reduce spending, but it's really the last step, not the first.
There are many factors that go into the shipping process that drive up costs. Auditing invoices help you get some money back from the carriers when they don't deliver on time, and it's a good practice, but there are much bigger savings opportunities that Parcel BI exposes.
Audits are helping you save after the fact, but Parcel BI reveals the processes for you to realize long term savings beyond carrier mistakes.
We help you set your company's policies and understand what you're doing to put process improvements in place. Our systems help you manage the data and find the other errors and costs that an audit just doesn't address.
We have an example of a customer of ours who was previously doing audits, but they were missing out on a ton of saving before they switched to Parcel BI.
We offer reports to quickly expose the areas where companies are leaking money. One of these is charge corrections and that's when you ship something out thinking it's going to cost X amount but it actually costs more.
In this case, this customer had $14,000 in corrections. Additionally, they had over $1,000 in audit fees, which was another charge on top of the correction. On top of this, they had late payment fees that cost them over $23,000. None of this was getting addressed by the audits.
So, those audit fees were assessed by the carrier for shipping mistakes on top of the charge corrections themselves.
This company had mistakes they could have cleaned up, policy, and procedure issues, including paying their bills in a timely manner. And they didn't even know.
Within the first month of having Parcel BI, this company actually saved over a $100,000!
If you want to learn more about how Parcel BI can help your company save on shipping, you can request a free demo on our site and contact us with any questions you may have!