MINNEAPOLIS--()--Organizations continue to experience increasing pressure to reduce costs and to navigate the growing complexity of supply chain management. Best practices for freight savings include processing and payment automation, increased financial control, and frequent analysis for contract negotiation. Companies can pay $1.70 to $8.46 less per freight invoice, according to a study by Aberdeen Group co-sponsored by Syncada from Visa, by leveraging flexible tools for the global financial supply chain.
“Organizations leverage Syncada’s robust tools and freight expertise to optimize freight processing and payments, connect to the financial supply chain, and gain global visibility.”
Organizations streamline the physical supply chain using a number of tactics, such as strategically locating distribution centers, selecting cost-efficient manufacturers, and optimizing retail management. Similarly, a best-in-class financial supply chain saves time, money, and resources. Corporations and government entities face multiple financial supply chain challenges—especially when solving freight payment and audit issues. Reactive freight spend management generates a cycle of error-filled invoices, late payments, and balance dues that destroys relationships between shippers and their carriers. With Syncada’s comprehensive freight solution, organizations can automate invoice processing and payment, collaborate to proactively address issues, and gain valuable insights into their freight spend.
“Companies can waste too much time and millions of dollars trying to manage inefficient financial supply chains,” states Rick Erickson, Global Transportation Product Director at Syncada. “Organizations leverage Syncada’s robust tools and freight expertise to optimize freight processing and payments, connect to the financial supply chain, and gain global visibility.”
To learn more about how Syncada enhances the financial supply chain for freight, join us at Supply Chain World in St. Louis, Missouri, on April 10 to hear Rick Erickson discuss “Building a Best-In-Class Financial Supply Chain”, or visit http://www.syncada.com/FreightPayment.aspx.
Syncada from Visa provides a business-to-business network for financial institutions to enable clients to increase control over their financial supply chains, regardless of language or currency. Financial institutions use Syncada to deliver standardized invoice processing and payment with integrated financing to their corporate and government clients. Syncada processes invoices for hundreds of buyers and makes payments to tens of thousands of suppliers in 47 countries. In 2012, Syncada processed more than US$21 billion in payments and millions of invoices and trade documents. Visit www.syncada.com for more information.