TransmetriQ Launches Freight Payables Solution to Automate Rail Invoice Audits

TransmetriQ, a Railinc brand, launched Freight Payables, a new module designed to automate rail freight invoice audits.

“Our data shows that audits processed by hand miss errors on freight bills and accessorial charges. We have caught more than 20 different kinds of invoice errors, ranging from fuel and tariff rate mismatches to missing origins and invoice numbers, that were costing shippers time and money,” says Danny Dever, senior product manager, shipments and visibility, TransmetriQ. “Before Freight Payables, there was no system available that offered the full scope of functions that audit processes require, and that gap is what has been driving up resourcing costs for shippers.”

Key takeaways:

·        The Freight Payables module enables operations and accounting teams to collaboratively ensure every invoice matches what was negotiated, and that freight spend is not quietly leaking through manual errors.

·        Freight Payables provides real-time visibility into the freight payment process and facilitating collaboration, while automating the work needed to identify billing errors, meet audit requirements and reduce unnecessary costs.

·        At the core of Freight Payables is TransmetriQ’s Shipment Rating tool, a continuously updated record of a shipper’s negotiated rates and public tariffs. Freight Payables checks every incoming invoice against that record as it arrives; flags anything that does not match; and routes it into one shared workflow where finance and operations can review, approve or dispute the charge together without spreadsheets or email chains. The result is a continuous, real-time audit process that identifies discrepancies as they occur rather than after the fact.