Varsity’s Multi-Modal Audit Module Overview
Varsity ShipAudit reduces manual errors and facilitates audit accuracy by automating audit processes. It simplifies carrier management based on historical billing accuracy and provides information for future contract negotiations.
¨ Automated Rate Reconciliation S
hipAudit enables the reconciliation of estimated shipment costs with actual billed carrier costs. When a carrier bill is received, ShipAudit compares the billed rate with pre-negotiated rates stored in the system. If a bill does not reflect the correct contract terms, ShipAudit intelligently calculates correct shipping charges. This includes all known discounts or other incentives, whether based on rolling 52-week volumes, accessorial charges, or any other criteria.
¨ Line-Item Audits
Upon completion of rate reconciliation, ShipAudit determines whether a bill should be approved, rejected, or short-paid based on a shipper’s payment criteria. ShipAudit then reports discrepancies and passes all necessary information on approved bills to Accounting. ShipAudit audits accessorial charges, as well as freight charges, at the line-item level.
¨ Electronic Receipt of Billing Information
ShipAudit receives freight bill data from carriers via EDI (210) or a flat file, eliminating manual errors and expediting the freight bill audit process.
¨ Billing Discrepancy Reports
To support exception-based management of billing processes, ShipAudit automatically generates detailed reports that provide visibility into any invoice-related issues.