The key features of IL2000's Audit & Payment system:
IL2000’s proprietary freight audit & payment system (TIBER) provides companies with a means to effectively manage their freight audit processes and provides opportunities to increase productivity, reduce freight expenses and stay compliant with tight financial regulations. IL2000 provides a solution that automates the entire freight payment process and tracks how accurately carriers are billing as well as how actual costs match planned costs.
IL2000 aims to help your accounting department comply with stringent regulations on financial transactions as demanded by Sarbanes-Oxley. We image and save historical shipment documentation for reference when you need it and generate reports that tie freight charges to the general ledger at the item level, including accrual entries for unpaid or un-invoiced charges incurred during a given financial period.
IL2000 specializes in freight services and thoroughly understands the types of errors that can occur during invoicing. It is our goal to identify and resolve these errors and work with carriers to mitigate future errors.
- Automated Freight Audit: We accurately audit your freight invoices with minimum manual intervention allowing us to process thousands of invoices each week. Our freight audit system (TIBER) examines over 50 data check points including: base rates, classification, assessorial fees, weight, zip code, carrier terms, routing instructions, invoice number, BOL number, PO number, shipment date, type of charge duplicate charges, and much more.
- Dispute Resolution: Our experienced audit team interfaces with carriers to resolve discrepancies and errors linked to your invoices.. We work as an advocate for your company and keep you informed along the way.
- Cost Allocation: Costs can by allocated by any specified coding including: general ledger, customer number, product class or any other desired segmentation.
- Freight Invoice Visibility: All freight bills are imaged and saved and accessible through our secure web portal, allowing you to have access to your shipment history and maintain control over your freight costs.
- Reporting: We provide extensive standard and customized reports such as a Freight Accrual, GL Account Coding, and many more.
- Consolidated Invoicing: We aggregate, audit and pay invoices and consolidate them into one easy to manage invoice.
- Implementation: The IL2000 freight audit system can be modified to accommodate your precise business needs. Our talented software and IT teams will work with you to ensure a seamless integration with your unique system.