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The HK TMS solution provides the unique ability to track data and
costs associated with all shipments across all modes of transportation.
More importantly however, HK TMS has the tools necessary to obtain the greatest value from this information so it can be used to better manage your business processes and improve customer and carrier relationships.
The primary functional component of reconciliation is Freight Audit.
Freight Audit
Freight Audit leverages information generated during the execution of a shipment to automatically match, reconcile and pay freight invoices.
Freight Settlement is the process of auditing, reconciling and approving for payment paying expected freight charges against actual freight invoices.
The challenge in most environments is the combination of volumes of
transactions and the lack of accessible, accurate data.
HK TMS solves this challenge by generating detailed and accurate
bill of lading records based on carriers’ actual rating and routing structures
and by providing an easy way to electronically accept carrier invoices.
With these two pieces of data, HK TMS examines freight bills and accepts
or rejects payment based on predetermined error tolerances.
There are seven pre-defined audit strategies with each carrier being
allocated one or more strategies.
In addition to reconciling and paying freight invoices, the freight audit module
provides the ability to perform detailed freight cost allocation.
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