It is a universal truth that timely and accurate invoice is the corner stone to the success of all shipping organizations. It ranks as high as ensuring that the cargo is safely transported from its origin to destination on time. The sooner you bill accurately, the sooner your revenue can become working capital. However, this is not always the case and surprisingly very few administrators have identified invoice accuracy as a key focus point within their organizations.
“However, times are changing; a senior executive of one global shipping lines makes shippers aware of the issue when he divulged that approximately 12% of container shipping lines’ invoices are issued incorrectly.” Inaccurate invoices are not only costing the carriers but also the shippers. Carriers’ lost are due to under charging for transport services rendered. Shipper’s lost are due to overpaying of freight charges and administration cost to check and dispute invoice. These factors played a major part in the customers’ dissatisfaction. Unhappy customers usually result in lost of further business and in worse case scenario speak negatively to friends and family members causing damage to shipping line’s brand reputation.Read More