Market Snapshot:
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.
Highlights from Freight Audit and Payment Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.6% |
The key Players profiled in the report are 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). Additionally, other players that are part of this comprehensive study are Trax Technologies (Canada) and Data2Logistics (United States).
Geographic Breakdown and Segment Analysis
The Global Freight Audit and Payment market presents a comprehensive analysis of the Freight Audit and Payment market by product type (CARRIER FACTORING, LOAD BOARD INTEGRATED PAYMENTS, COLLECT FREIGHT and DIGITAL CREDIT AND COST UNDERWRITING), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Freight Audit and Payment industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Freight Audit and Payment market
Analyst at AMA have segmented the market study of Global Freight Audit and Payment market by Type, Application and Region.
Influencing Trend:
Increasing Use of Analytical Tools
Market Growth Drivers:
Increase in the need for Efficient Management Systems in the Transportation and Logistics Industry and Growing Freight Costs are anticipated to Rise in the Near Future, due to a Rise in Oil Prices
Challenges:
Intense Competition Among the Competitors
Restraints:
Lack of Skilled Working Professionals
Opportunities:
Technological Advancement and Development in the Freight Audit and Payment
Market Developments Activities:
In 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.
In 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 Audience
Freight Audit and Payment Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others