How OnShip Helps Accounts Receivable Invoice Faster
As shipping becomes a mission-critical process in the supply chain, the complexities of Accounts Receivable have increased. Accounts Receivable’s key focus is accelerating the order to cash cycle by Day Sales Outstanding (DSO) for their company.
It’s imperative for A/R to have accurate shipping fees and charges for each order asap. Adding incorrect or flat-rate shipping charges to each order means you either win or lose money on each shipment and that’s a serious problem.
Areas of Concern:
• Accuracy: Sending out 100% accurate invoices
• Access to Real-time Shipping Data: A/R reps field customer inquiries daily regarding invoice accuracy and they need to have all the real-time info required to answer that question quickly to satisfy customers, reduce high 800 number per minute costs and get the payment processed.
• Speed: Accelerate their company’s order to cash cycle.
• Integration: Their shipping software of choice needs to be fully compatible with all existing and planned order entry systems…this is a big one!
Questions You Need to Ask Inside Your Organization:
Do we add shipping charges to our customer invoices: If so, do we have a quick and easy automated process that updates our order entry system?
You will want to determine who is paying the freight, sometimes your customer will request that you use their carrier account number for shipping, and sometimes you will add the shipping and handling charges to the invoice. OnShip can handle either one or both, dependent on business rules we add to match your requirements for each customer.
Is our current shipping software fully integrated in real time?
In other words, is shipment date, shipping charges, handling charges, carrier, and tracking number (and any other required data) instantly passed back to our order entry system after each package is shipped? If not OnShip can help.
How long is our invoicing process?
If OnShip can reduce invoice processing by one day, does that help our cash flow?
How do we validate the accuracy of UPS, FedEx parceel and LTL/TL freight invoices?
Yep, OnShip can help with quick and accurate carrier invoice auditing (and rate lowering negotiations!), with no out of pocket costs to your company.
Bottom-line, OnShip's Managed Shipping Services Platform gives you all the proven stability and speed you need to scale from one shipping station to thousands for a lot less than "the other guys!"
Schedule a live demo to see for yourself how cost-effective it is to start with one OnShip shipping workstation and stay there or grow from one to many, across your enterprise.
Good Luck & Happy OnShipping!