Customers that look to streamline the Settlement process can now leverage Auto Settlement capability within Settlement. Auto Settlement allows customers to have the system automatically generate an invoice after a shipment has been delivered (or X business days after) based on the shipment's financials agreed upon by the customer.
Invoices are generated only for shipments that have a delivery date and time attached. Further, invoices are not generated for shipments that have already been invoiced.
This feature is ‘Off’ by default and must be activated within the Settlement Configurations.
Shippers must choose a default number of business days after a shipment has been delivered to have the invoice generate. This allows shippers that want to first provide their carriers the opportunity to invoice them the ability to do so. Shippers must also choose when they want Auto Settlement process to start.
Once Auto Settlement is activated, then invoices will be generated as long as the four items are valid:
The shipment has a delivered date and time
The shipment has not been invoiced prior to Auto Settlement
The ‘Start Date’ of Auto Settlement is the same day or earlier than the date shipment was delivered
The number of business days after the shipment has been delivered configuration has been satisfied
Note the Auto Settlement process will run on weekdays at 8:00 am, 12:00 pm, and 5:00 pm Central if it is activated.
Both shippers and carriers will receive an email and an in-app notification for each invoice that has been generated as long if the user has ‘Invoice Activity’ on within ‘User Preferences’.
Once Auto Settlement creates an invoice that is generated on behalf of a carrier it will be sent through the standard First Pass Match process per the configurations the Shipwell customer has setup at the time the invoice is generated. There will not be any financial disparities since it was generated based on shipment financials but there could be exceptions generated like a lack of Proof of Delivery (POD) or other missing documents on the shipment.
The Auto Settlement feature must be activated for a customer’s account so reach out to your Customer Service Manager if you are interested in activating it.
Beta Feature Awareness:
As a beta feature, users should be aware that there will be an increased volume of changes and enhancements to functionality along with minor disruptions potentially. We aim at keeping disruptions to a minimum and in the spirit of making the feature better. We will communicate any planned disruptions in advance.