To effectively conduct business in a fast-paced, rapidly changing marketplace, shipping and trucking companies need streamlined payment processes and real-time visibility into finances. Financial netting allows these firms to ensure more accurate and timely invoicing and payments with trading partners, while significantly cutting costs and time. Similarly, intercompany netting enables multi-national organizations to benefit from consolidated payables and receivables across their subsidiaries.
The best practice of balancing debits and credits—combined with a unified ledger approach—give shipping and trucking companies the edge they need to be agile and successful in today’s competitive business environment.
Debra Carbone is Transportation & Logistics Lead for UNIT4 Business Software, the North American subsidiary of UNIT4, a $624 million global business software and services company that creates, provides and supports software delivered via the cloud and on-premise.