Logistics Management Solutions (LMS), a non-asset-based third-party logistics service provider (3PL), has launched a new freight payment service that uses advanced processes and technologies to achieve a higher degree of freight payment accuracy, speed, and data visibility.
TOTALFreightPay processes paper and electronic invoices within 24 hours, at which point data is available online to authorized shippers and carriers. The system relies on customizable table- and rules-driven architecture to ensure a thorough and accurate auditing process. It also equips shippers with Windows-based tools and an extensive data warehouse to support customized and ad hoc transportation/financial reporting.
Developed by freight payment experts and Internet software engineers, TOTALFreightPay immediately converts paper invoices into images that flow through the payment cycle. Information is captured from these electronic images as well as electronic data interchange (EDI) invoices, and checked for duplications before undergoing a rigorous auditing process. Once adjusted or approved, invoices are aged according to client-specified and carrier-specific payment terms; and payment is released to carriers as scheduled.
Company: Logistics Management Solutions (LMS)
Company URL: www.lmslogistics.com