A freight accrual is an accounting entry that records the estimated cost of freight that has been shipped but has not yet been invoiced by the carrier. It appears on the balance sheet as a liability and is reversed when the actual invoice arrives. U.S. business logistics costs reached $2.58 trillion in 2024, representing 8.8% […]
Freight Accrual: What It Is, How It Works, and Why Accuracy Matters Read More »
Why do freight billing errors happen? Freight billing errors cost mid-market shippers 3% to 7% of total freight spend annually. According to Ardent Partners’ 2025 State of ePayables report, 22% of all invoices contain exceptions requiring manual intervention. The most common freight billing errors include incorrect weight or dimensional charges, duplicate invoices, missing discount codes,
Freight Billing Errors: 5 Most Expensive Mistakes Read More »
Manufacturers face five categories of hidden freight costs that generic audit programs miss entirely. These costs span invoice errors, inbound vendor markups, detention charges caused by plant operations, inaccurate freight allocation to products, and trapped working capital in payment cycles. Manufacturing accounts payable departments processing freight invoices manually experience error rates between 12% and 15%,
Manufacturing Freight Audit: 5 Hidden Costs Read More »
Why is ocean freight tracking failing to protect your bottom line? Ocean freight tracking tells you where your container is. It rarely tells you what that location costs. With global schedule reliability hovering at just 51.5% according to Sea-Intelligence’s February 2025 Global Liner Performance Report, nearly half of all ocean shipments arrive late. The real
Ocean Freight Tracking: The Visibility Gap Costing Shippers Millions Read More »
Every month, thousands of businesses receive freight invoices with mysterious line items that can add 20-40% to expected shipping costs. For mid-market to enterprise shippers managing millions in annual freight spend, choosing the right freight auditing companies isn’t just an operational decision; it’s a strategic financial imperative that directly impacts your bottom line. Key Takeaways:
How to Choose the Right Freight Auditing Company Read More »
Every month, thousands of businesses receive freight bills with mysterious line items that can add 20-40% to their expected shipping costs. Known as accessorial charges, these hidden fees are one of the most significant overlooked costs in the shipping industry. For any business that ships products, from small retailers to large manufacturers, understanding and controlling
Your Guide to Hidden Freight & Accessorial Fees Read More »
Duty drawback allows businesses to get refunds on customs duties, taxes, and fees paid on imported goods that they eventually export or destroy. Especially with fluctuating global trade policies and tariffs, an effective duty drawback program is no longer just a bonus—it’s a critical component of a resilient supply chain strategy. This practice can drastically
A Guide to Duty Drawback: How to Recover Import Costs Read More »
With the right tools, strategies, and partner, you can save time, money, and stress on one of the most important parts of your supply chain. This article outlines 8 freight audit and payment best practices to help improve accuracy and streamline your supply chain. You’ll learn how to centralize data, use automated solutions, enhance carrier
8 Best Practices for Freight Audit & Payment Read More »
Are rising freight costs cutting into your bottom line? Reducing freight fees without compromising on service is essential for your business’s cost efficiency. But, it’s easier said than done. In this guide, we’ll provide you with actionable strategies that any business can use to secure better rates and lower expenses without sacrificing service quality. Before
How to Reduce Freight Costs Without Hurting Service Quality Read More »
Effective freight optimization is the process of making your shipping operations more efficient to cut transportation costs. It involves strategies like freight audits, route planning, and load consolidation to prevent overspending and maximize cost-efficiency without lowering service quality. A streamlined logistics process is crucial for maximizing your profitability. That means you need to spend less
Freight Optimization: Proven Strategies to Use Read More »
