Spectrum’s freight bill audit and processing capabilities are among the best in the industry. Our system offers one of the quickest turnarounds available. In fact, our customers’ average freight bill is processed through our system and paid 7 days before it is even due. This integrity has continued to reduce collection issues for our customers, while strengthening our leverage with carriers to achieve the best pricing available. Our system works as follows:
• All freight bills will be received directly by STC. We will provide you with the correct billing instructions to be placed on your bill of lading or purchase orders. Any bills sent directly to you from the carriers will be forwarded to us for processing.
• Once received by STC, we will process all bills through our freight bill system, including domestic and international parcel, LTL, and truckload shipments. Bills routed with our suggested carriers will be pre-audited for accuracy of rates, discounts, duplicates, NMFC freight classification, accessorial charges, and billing terms, and will be corrected if necessary. All audit savings will remain with your company. Non-STC carrier freight bills will be checked for terms and duplicates, and will be re-rated with our suggested carriers for monthly rate comparison reports. After auditing, each bill will be approved and forwarded to you weekly. STC will process each bill the same week we receive it from the carriers. Any bills being held for any reason will be outlined in a weekly approval report prior to processing.
Additional Benefits
• Recover 2-5% in carrier billing errors (prior to payment)
• Avoid filing overcharge claims
• Monitor vendors and internal traffic for routing non-compliance