What is Freight Audit and Payment Market?
Freight audit and payment are an essential process for the management of supply chain costs. Freight audit and payment modernize freight payment systems and reduce the administrative and operational burden of manual freight intervention. Freight audit and payment companies provide contract optimization services to offer solutions at the lowest price. A freight audit and payment is a business process, in which a company’s freight bills are inspected, adjusted, and verified in order to achieve accuracy. Freight audit and payment help in avoiding time-consuming tasks such as sorting invoices, auditing and approving invoices, receiving and opening mail, and paying and assigning a general ledger code.
The market study is being classified and major geographies with country level break-up.
nVision Global (United States), Green Mountain Technology (United States), PayAnyBiz (United States), CT Logistics (United States), Software Solutions Unlimited (SSI) (United States), ControlPay (Netherlands), U.S. Bank Freight Payment (United States), Cass Information Systems (United States), CTSI-Global (United States) and National Traffic Services (Canada) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Trax Technologies (Canada) and Data2Logistics (United States).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Freight Audit and Payment market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Freight Audit and Payment market by Type, Application and Region.
On the basis of geography, the market of Freight Audit and Payment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increase in the need for Efficient Management Systems in the Transportation and Logistics Industry
- Growing Freight Costs are anticipated to Rise in the Near Future, due to a Rise in Oil Prices
- Increasing Use of Analytical Tools
- Lack of Skilled Working Professionals
- Technological Advancement and Development in the Freight Audit and Payment
- Intense Competition Among the Competitors
Market Leaders and some development strategies
On 30th June 2020, RateLinx, a leading supply chain, freight audit, and logistics visibility platform just announced a new, complimentary freight audit analysis available for shippers looking to improve transportation efficiencies and effectively implement cost-savings initiatives.
On 9th October 2020, enVista, a global software and consulting services provider, optimizing and transforming digital and physical commerce, has announced the launch of its Premier Freight Audit and Payment RFP.
Key Target AudienceFreight Audit and Payment Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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