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.
A cost-to-serve analysis creates a solid understanding on where and how costs are incurred through an organization. It is about modeling costs that are different for each customer and product, and ensuring they are allocated fairly. The CTS analysis solution market’s most common use cases are: - More informed product portfolio management - Costing decisions and supply network design - Gain sharing between suppliers and customers - Identification and allocation of costs to suppliers and customers - Improved process and resource efficiency