Settlement reporting and analytics plays many important roles including:
Making sure your freight spend accrual is accurate
Providing you a more holistic understanding of your carriers
Better understanding of time resources devoted to your settlement process
Better able to plan for future freight spend
Shipwell provides or is developing a number of reports and analytics to help you in satisfying your settlement reporting and analytics needs. The following reports are available or in development as respects settlement reporting and analytics:
Freight Invoice Audit Report: The Freight Invoice Audit report provides overview data including invoiced versus expected and the difference and number of proof of deliveries present for a shipment.
Freight Expense & Accrual Report: The Freight Expense & Accrual Report provides an overview of shipments that have been delivered but not paid along with which shipments have been delivered and paid. This will leverage the settlement tracking capability within Shipwell.
Carrier Performance Report: The Carrier Performance Report provides a holistic view of carrier performance and is planning to be expanded to support carrier performance around settlement:
a) the average timeframe (# of days post-delivery date) of getting invoices submitted in the first place by carrier by mode,
b) identifying the average number of exceptions invoices have while initially submitting,
c) identifying the percentage of invoices submitted by a carrier that have a financial variance, and
d) average variance of invoices submitted by a carrier.
All these reports leverage the various ways that carriers can submit invoices. Currently, the invoices in this report include: a) inbound EDI 210, b) in-app carrier generated, c) in-app uploaded invoices, and d) invoices generated on behalf of the carrier.
All of these Settlement reports are available under the ‘Shared’ folder within the ‘Analytics’ tab.
Freight Invoice Audit Report Example View
The Freight Invoice Audit report will show key information for incoming invoices. The ‘Freight Invoice Audit’ displays similar to below and will display anytime there is an exception as follows:
Amount Exception: The ‘Invoice’ amount is different than the ‘Expected’ amount based on the shipment’s financials within Shipwell. This is displayed as a value in the ‘Difference’ column that is in orange.
Status Exception: The invoice is for a shipment that is not marked as delivered or reconciled status within Shipwell. This is displayed as the status in the ‘Shipment Status’ column that is in orange.
Proof of Delivery Exception: There is less than one proof of delivery per stop. For example, if there are two delivery stops then we would expect two proofs of delivery. This is displayed as a value in the ‘# of POD’ column that is in orange.
At the top of the Invoice Exception Audit report you can filter the invoices by:
Carrier
Mode
Invoice Date (Default is last 30 days)
Due Date
Invoice Status
Invoice Last Updated Date
Freight Expense & Accrual Report Example View
The Freight Expense & Accrual Report is aimed at helping you understand which of your shipments have been delivered and not invoiced along with understanding freight that has been invoiced and what stage it is at.
The top of the Freight Expense & Accrual Report has three different aggregate Freight Expense & Accrual cards:
Total Non-Invoiced Freight: Represents sum of Expected Total Cost for all delivered shipments that do not have an active invoice. Active invoice meaning an invoice that has not been Rejected or Cancelled/Voided.
Total Paid Freight: Represents sum of Invoiced Amount for all delivered shipments with one or more invoices received that are in Paid status.
Total Invoiced Freight: Represents sum of Invoiced Amount for all delivered shipments where an active invoice has been received.
After the aggregate cards, the report has four different tables as follows:
Non-Invoiced Freight: Represents all delivered shipments that do not have an active invoice. Active invoice meaning an invoice that has not been Rejected or Cancelled/Voided.
Invoice Freight: Represents all delivered shipments where an active invoice has been received.
Paid Freight: Represents all delivered shipments with one or more invoices received that are in Paid status.
All Freight: Represents all delivered shipments as indicated by a Shipment Status of Delivered.
Within each table it will provide key delivery, customer, and financial information of the shipment along with key invoice information.
The Freight Expense & Accrual Report is available within the Analytics section if it has been activated for your customer environment. Note that if you are using the Shipwell QuickBooks or NetSuite integration through the Shipwell Marketplace then invoices generated within QuickBooks and/or NetSuite are not currently represented in this Freight Expense & Accrual Report. This will be added later.
Carrier Performance Report Example View
Coming in the Future: Expanded Carrier Performance Report including key settlement metrics for carriers including:
a) the average timeframe (# of days post-delivery date) of getting invoices submitted in the first place by carrier by mode,
b) identifying the average number of exceptions invoices have while initially submitting,
c) identifying the percentage of invoices submitted by a carrier that have a financial variance, and
d) average variance of invoices submitted by a carrier.