About the Client
A global freight company with decades of experience in providing comprehensive shipping and logistics services. Operating across multiple continents, the company is recognized for its seamless operations in freight forwarding, customs brokerage, and supply chain management. As a fast-growing enterprise, they recently transitioned to CargoWise, a leading transportation management system (TMS), to support their expanding operations.
Challenges Faced
Despite the transition to a modern TMS, the client encountered several inefficiencies in processing accounts payable (AP) invoices:
- Limited Integration: Their existing automated document processing system, which matched invoice line items to job details, was incompatible with CargoWise.
- Batch Processing Model: Invoice processing was reliant on batch operations, causing delays. Users had to wait up to a full day to identify errors or confirm invoice matches, hampering timely accruals and job closure.
- Manual Rework: The lack of real-time processing meant revisiting jobs multiple times to ensure proper closure, resulting in significant operational obstacles.
Solution
The client partnered with Cargo Docket to address these challenges and simplify their AP invoice processing. Cargo Docket’s solution provided real-time automation capabilities that seamlessly integrated with CargoWise, eliminating the limitations of their previous system.
Key Features of the Solution:
- AI-Powered Invoice Processing: Cargo Docket uses artificial intelligence to extract relevant data from invoices, regardless of format or supplier.
- Real-Time Integration: The solution integrates directly with CargoWise, ensuring instant updates and validation of invoice data against accruals.
- Straight-Through Processing (STP): Automates the end-to-end matching of invoice line items with jobs, reducing manual intervention.
- Dynamic Supplier Onboarding: AI capabilities enable the processing of invoices from new suppliers without requiring manual configuration or template updates.
- Error Identification and Insights: Cargo Docket flags discrepancies in invoices early, helping teams address systemic issues with suppliers.
“Cargo Docket has revolutionized how we manage invoice processing. The real-time integration with CargoWise is revolutionary, allowing us to process invoices faster and more accurately. The user interface is intuitive, and the automation has freed up our team to focus on strategic tasks. It’s an indispensable tool for our operations.” – Director of Information Systems
Results
- Significant Time Savings: Real-time processing reduced delays, allowing invoices to be matched and approved in minutes instead of hours or days.
- Improved Accuracy: Automated matching reduced errors by 80%, minimizing the need for manual corrections.
- Enhanced STP Rates: Achieved over 70% STP rates in customs brokerage operations.
- Anticipated 50% STP rates in freight forwarding once broader adoption is achieved.
- Rapid Supplier Onboarding: New suppliers can now be onboarded instantly, saving time and effort.
- Actionable Insights: The solution provided valuable data on supplier performance, helping identify obstacles and systemic issues for continuous improvement.
Conclusion
The client has been able to overcome their invoice processing difficulties and achieve new levels of accuracy and efficiency because of Cargo Docket’s clever automation solution. The technology revolutionized the way the business manages AP invoicing by optimizing processes and connecting with CargoWise.
As the customer expands their use of Cargo Docket across their operations, they are well-positioned to handle rising invoice levels while maintaining great operational performance.
Are you ready to optimize your logistics operations with smart automation? Get in touch with Cargo Docket’s RPA solutions right now to find out how we can assist you in achieving transformative outcomes and real-time efficiency.
