Freight Invoice Audit and Paymentwpadmin2020-03-26T05:02:07+00:00
Did You Know?
nVision processes $6.1 Billion in Invoices Per Year
We process 125,000,000 Invoices Per Year
20% of Customers Pay Incorrect Invoices
30% or More of all Ocean Invoices are Incorrect According to Providers
33% of All Customers Pay Interest Due to Late Payments
Most Customers Experience a 10% Savings in Just the First Year
nVision Global specializes in providing global freight invoice audit, payment and transportation spend management services for customers around the globe. Throughout our years of experience, we have become the experts in managing invoices for all modes and services of transportation, from all over the world, in any currency, and in most languages. If you are looking for an experienced, world-class freight audit & payment solutions provider, look no further.
Our Sarbanes-Oxley compliant solutions allow your organization to access nVision Global’s broad experience and technology that has taken us from a regional freight audit and payment service provider, to our current role as the leading global provider of invoice audit, payment and transportation spend management services. Our customers have come to rely on our prompt and accurate freight audit and payment services, as well as our leading-edge transportation spend management analytical tools, to help them manage their overall transportation costs.
Why nVision Global Is the Leader in Freight Audit & Payment
Seven (7) Corporate Owned, Strategically Placed, Full Service Processing Centers on Three Continents.
State-of-the-Art Business Intelligence Analytical Tools with Enriched Normalized Data.
Web Based Exception Management Tools for both Customers and their Transportation Providers.
EDI Images Considered VAT Compliant in EMEA & APAC Regions.
Non-Commingled Remittances in any Commonly Traded Currency Utilizing “In-Country” Accounts.
Dedicated Regional Implementation & Customer Service Staff Fluent in over 25 Languages.
Web Based Tools Available in Requested Languages Featuring “Drill-Down” Technology to Invoice Images.
Complete Visibility and Transparency of Transportation Provider Invoices, Contracts, Rate Cards, Tariffs/Agreements and Coding Logic.
Extensive Cost Allocations by any Customer Criteria.
Extensive Data Capture Including Dedicated Customer Defined Data Fields with Enhanced Data.
By utilizing the latest technology, nVision Global excels in providing the most accurate, hassle free audit in the industry. Through our proprietary technology, our programmatic rate audits, at the shipment level provide our customers average annual savings of 10-15% of their annual transportation spend, ensuring the most prompt, accurate and complete audit of their negotiated pricing contracts, rates, accessorials and taxes. This whole process is possible by our expanded data capture allowing us to provide our customers with immediate, enhanced, actionable business intelligence second to none in our industry.
nVision Global understands the importance of providing customers specific edits, validations and business rules that govern the processing of their transportation invoices. As such, our staff will review and incorporate your business rules into our automated rules engine.
Critical to a single-source solution is the ability to provide accurate and efficient cost allocation. One of the primary strengths of our system is the ability to provide automated, accurate and efficient cost allocations. While the process to apply cost allocations is customer driven, our system excels at analyzing the ambiguity presented on invoices, which then integrates that information with client-provided reference data to provide automated, accurate and efficient cost allocations.
Additionally, our system is adept at:
Generating split allocations across multiple accounts based on a number of variables including weight, pieces and SKU number among others
Providing custom file feeds to customer specific accounting systems
One of the many reasons customers select nVision Global is our ability to automate cost allocations and produce dramatic productivity gains, as well as improved cost allocation results compared to existing methods.
One of the most important aspects of a freight audit payment system is the degree to which it can integrate valid data into your larger information environment. Customer system interfaces are a routine request to share shipping records for match-pay, cost allocation updates for GL coding, invoice information for exception management and payment information for funding requests. nVision Global currently interfaces with all major ERP and AP systems including JD Edwards, PeopleSoft, Oracle, SAP, as well as proprietary customer system formats to ensure the match is performed accurately, effectively and all in an automated environment.
nVision Global has designed our online exception management tools for the benefit of both our Customers and their Transportation Providers that provide a user-friendly, interactive process to address invoices that require more information and/or approval prior to payment. Any invoice that does not meet their specific business rules will be placed through an extensive three-step audit by our staff. This audit process includes a number of tools within our application to prompt nVision Global to determine the correct application of the customers’ business rules and requirements. At the conclusion of this audit invoices that still require input from either the customer or their Logistics Service Provider for processing will be posted to our web-based exception management resolution site, called Resolution™.
In regions of the world where invoices cannot be short paid, nVision Global has introduced a Collaboration tool. The dictionary defines the word Collaboration as the act of “working jointly with others in an intellectual endeavor.” This phrasing serves as an excellent introduction to describe nVision Global’s latest technology development: The Collaboration Site.
Disputes are a natural component of the invoice lifecycle: transportation providers issue invoices for their services, customers or third-party audit firms then review the details of the invoices based on existing contracts, and inevitably discrepancies are discovered in this process. Collaboration works by bringing trading partners together in a streamlined process to review invoice disputes, communicate on invoice-related issues, and issue any appropriate credit notes as needed for compliance purposes. Each party in the invoicing lifecycle is provided with an interactive and vital role in the Collaboration process: Customers and their respective transportation providers are provided direct online access to work with nVision Global staff to resolve any invoicing disputes in a timely manner. This system provides transparency and visibility to all parties, and ensures that payments are being issued to transportation providers as expeditiously as possible. Managing invoice disputes no longer requires endless phone calls and e-mail exchanges or unnecessary delays in invoice processing and payment.
nVision Global specializes in providing freight audit services to multi-national corporations seeking a single, global provider who can process, rate, audit, general ledger code and remit payment for all modes of transportation related invoices. Additionally, by providing our customers with a single, global data warehouse and analytical tools, we are able to assist them in the optimization and streamlining of their global supply chains. Through our seven (7) strategically placed, corporate owned, full service processing centers on three continents, companies large and small have come to rely on our world class freight audit and payment solutions to provide year over year verifiable bottom line savings.
nVision Global allows our customers and their users to customize the data that is provided to them in their reporting solutions. They are able to choose the data elements, the format of delivery, how they want to view it (mapping, spreadsheet, interactive widget, etc.), and we allow for the saving and automation of delivery to one or many recipients. We provide enormous quantities of data that are curated and presented through graphs, charts and tables to make it more consumable for even the most untrained user. We also have the ability to process your past business data to help you make the best business decisions today.
nVision Global Continues to Lead the Freight Audit Industry
nVision Global’s technology enables you to automate your Freight Audit and Payment processes, while providing in-depth reporting capabilities not previously possible. Our enhancements to the freight audit industry over the years have enabled our customers to become more efficient, reduce their freight costs, prevent incorrect payments, generate analytics that drive critical decisions, reallocate valuable resources to revenue-generating roles, and to ultimately become more profitable.
We have become one of the best in the industry for a reason; we work hard to understand our customer’s requirements, and we develop solutions that exceed them. We are the global leader in the Freight Audit & Payment business.