2014 Transportation Payment Benchmark Study: Paying the Price for an Outdated Payment Process
, in partnership with the Council of Supply Chain Management Professionals (CSCMP) and the Retail Industry Leaders Association (RILA), surveyed nearly 190 shippers and third party logistics providers on their freight payment procedures, strategies, global integration, and technology.
This year’s report picks up where last year’s left off, focusing on the crucial interplay between the role that logistics and finance play in the development of an automated freight pay process, as well as examining whether funding is available to invest in such technology. The report also looks at whether shippers and 3PLs plan to extend their payment terms this year and how they plan to do so. Traditional benchmarking areas, like timeframe to pay, auditing practices, and freight pay technology platforms are also included.
Key focus areas include:
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- The tools shippers and 3PLs use to extend payment terms
- The extent to which shippers and 3PLs combine domestic and international freight pay functions
- The percentage of freight payers still using a manual process to pay bills
- The degree to which freight payers audit before and after payment
- Whether logistics and finance has the primary role in freight pay technology decisions
- How recently companies have audited their freight payment process
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