Adds functionality for freight bill auditing and payment management to global trade and transportation solution
Chicago April 5, 2006 Solution provider Precision Software has added new freight management capabilities to its global trade and transportation offering, aiming to provide enterprises with what it calls "true closed-loop transportation management."
Recognizing the importance of improved freight expense management in a climate of rising fuel costs, constrained resources and complex assessorial charges, Precision Software said it added functionality for freight bill audit and approval to its TRAXi3 solution.
i3Approve, a component of TRAXi3 joins the existing capabilities for global shipping execution (including multi-carrier shipping and manifesting, global trade document management, regulatory global compliance and freight forwarding).
"With i3approve, TRAXi3 is now able to manage the entire lifecycle of the shipment," said Greg Lloyd, Precision Software's chief operating officer. "We are the only company in the market today that is able to offer a best-of-breed solution for both shipment execution as well as payment management across all modes of shipping, including small package shipments."
Lowering Costs Upstream and Downstream
According to Precision, the addition of i3approve enables TRAXi3 to lower costs and increase the rate of flow of the supply chain in three ways. Upstream, when the order is being rated, routed and shipped, the system will choose the most appropriate carrier to satisfy the needs of the customer. Downstream, it will make sure that all charges are identified and match what actually occurred.
Finally, TRAXi3 allows the large quantity of data generated by the transportation process to be mined and transformed into management information that identifies service and cost problems and opportunities. "The missing link to truly manage the entire transportation process is now available as an integral component of global transportation management," the solution provider said.
As a result of the new capabilities, i3Approve will help users ensure they only pay for the type and level of service received; automatically allocate all freight charges against multiple targets; determine total costs by category across multiple carriers; and create ad hoc reports against hundreds of independent data points.
Founded in 1984 and headquartered in Dublin, Ireland, Precision Software has offices in the United States (Chicago, Waukesha, Dallas) and Europe (Dublin, Coventry, Rotterdam). Precision's customer list includes such companies as Baxter Healthcare, Elizabeth Arden, Pepsi, F. Schumacher & Co and The Home Depot
Additional Articles of Interest
Businesses today continue to look for ways to reduce their logistics costs, but in order to identify further costs savings, companies need to tap into new information. The answer? Benchmarking. Read more in "Freight Cost Benchmarking: The Final Procurement Level," in the February/March 2006 issue of Supply & Demand Chain Executive.
To build a competency in supply network design, this consumer products company first had to build confidence. Read more in "Designing the Best Supply Chain Gillette Can Get," in the February/March 2006 issue of Supply & Demand Chain Executive.
Chicago April 5, 2006 Solution provider Precision Software has added new freight management capabilities to its global trade and transportation offering, aiming to provide enterprises with what it calls "true closed-loop transportation management."
Recognizing the importance of improved freight expense management in a climate of rising fuel costs, constrained resources and complex assessorial charges, Precision Software said it added functionality for freight bill audit and approval to its TRAXi3 solution.
i3Approve, a component of TRAXi3 joins the existing capabilities for global shipping execution (including multi-carrier shipping and manifesting, global trade document management, regulatory global compliance and freight forwarding).
"With i3approve, TRAXi3 is now able to manage the entire lifecycle of the shipment," said Greg Lloyd, Precision Software's chief operating officer. "We are the only company in the market today that is able to offer a best-of-breed solution for both shipment execution as well as payment management across all modes of shipping, including small package shipments."
Lowering Costs Upstream and Downstream
According to Precision, the addition of i3approve enables TRAXi3 to lower costs and increase the rate of flow of the supply chain in three ways. Upstream, when the order is being rated, routed and shipped, the system will choose the most appropriate carrier to satisfy the needs of the customer. Downstream, it will make sure that all charges are identified and match what actually occurred.
Finally, TRAXi3 allows the large quantity of data generated by the transportation process to be mined and transformed into management information that identifies service and cost problems and opportunities. "The missing link to truly manage the entire transportation process is now available as an integral component of global transportation management," the solution provider said.
As a result of the new capabilities, i3Approve will help users ensure they only pay for the type and level of service received; automatically allocate all freight charges against multiple targets; determine total costs by category across multiple carriers; and create ad hoc reports against hundreds of independent data points.
Founded in 1984 and headquartered in Dublin, Ireland, Precision Software has offices in the United States (Chicago, Waukesha, Dallas) and Europe (Dublin, Coventry, Rotterdam). Precision's customer list includes such companies as Baxter Healthcare, Elizabeth Arden, Pepsi, F. Schumacher & Co and The Home Depot
Additional Articles of Interest
Businesses today continue to look for ways to reduce their logistics costs, but in order to identify further costs savings, companies need to tap into new information. The answer? Benchmarking. Read more in "Freight Cost Benchmarking: The Final Procurement Level," in the February/March 2006 issue of Supply & Demand Chain Executive.
To build a competency in supply network design, this consumer products company first had to build confidence. Read more in "Designing the Best Supply Chain Gillette Can Get," in the February/March 2006 issue of Supply & Demand Chain Executive.
