Freight audit and payment (FAP) services consist of invoice collection, preaudit, processing, payment and analytics of transportation invoices across multiple modes and regions. These services have expanded over the years to include transportation procurement services, benchmarking, advanced analytics and supply chain consulting expertise to provide customers with key insights from their freight spend data. The transportation industry faces continued volatility, causing organizations to look for insights and better control over logistics spend. As a result, demand for freight audit and payment services continues to rise due to lack of internal competency.
Gartner defines transportation management systems (TMSs) as software that supports multimodal planning and execution of the physical transport of goods across the supply chain. It allows a shipper to manage varying levels of transportation complexity across multiple transport modes and geographic regions. TMS solutions are utilized by shippers of differing sizes, operational complexity, industries and geographic locations.