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Freight Verification and Reporting Tool (FVR)

FVR is a freight analysis tool to perform contract compliance, freight bills verification and spend analysis. This tool helps you to avoid duplicate payment and overpayment, & helps you to manage non-contractual spent through deviation approval process. Multi-check facility (i.e. Contract, Invoice, material and other invoice details) of this tool helps you to do freight audit in auto mode and control supply chain cost. FVR performs all validation activities and payment posting to accounts in digital format with less OR almost no error.

FVR captures data at multiple places with proper check and validation to create detailed analytical reports and dashboard with all possible real time information to make your organization’s logistics planning smooth and effective.

FVR tool is very easy and user-friendly to use. As 1st step, we have master module to get all required information as master data and formulation of all contracts in the system. Once its done, 2nd step is to accept invoices in hard copy OR e-copy (PDF, Email, Excel/CSV file) through upload feature OR Email. As soon as the system receives the invoice, it starts working on the validation and verification part. FVR can process invoices one-by-one OR in batch mode to deal with large number of invoices at a time. In 3rd Step, FVR checks for deviations in the invoices, if no deviations then its ready to post to finance otherwise FVR triggers the deviation approval process and sends email to concerned person as per the deviation approval matrix defined in the system. After the deviation approval activity, invoice goes to freight forwarder (if rejected) OR goes to finance for posting. In 4th Step, after capturing data at multiple step and other various processing, FVR is ready with comprehensive and detailed analytical reports for logistics team to optimize their cost and performance, as well as help them to make proper planning.

Benefits

Overall, FVR helps logistics team in the following ways:

Compliance
FVR checks multiple values at various steps to provide authenticate and validated data. It helps logistics team for internal audit also.
Freight cost saving
FVR helps you to save your freight spent by avoiding duplicate payment, overpay and deviation control. It’s contract compliance helps to optimize the lane and compare transporter/lane to reduce cost.
Fast processing
FVR automated digital processes save your organization time of validation, approval etc. This way, your freight forwarders are also paid on time with full accuracy.
Transparency
System allows logistics team to check the detailed analytical view of freight spend as well as deviation & non-contract spend to make optimized logistics planning.
Reports
FVR system gives comprehensive and detailed reports in real time to logistics team to make various decision effectively and efficiently.
Notifications and alerts
FVR system sends auto-notifications and alerts at various steps to concerned party.