Solution: They implemented U.S. Bank Freight Payment.
Results: After they implemented U.S. Bank Freight Payment, the auto manufacturer saw an initial headcount reduction from 12 to 3. Even as they added more divisions, they never had to add headcount as freight invoice volumes increased. They also experienced a reduction in their processing costs from $3.20 to $.20 per invoice, saving them more than $700,000 per year. Because U.S. Bank Freight Payment leverages trade finance, shippers can extend day’s payable outstanding (DSO) while paying their carriers in less than four days, improving working capital for both parties. By extending their DSO, this auto manufacturer increased working capital by more than $560,000 per year.
About the Solution Provider: U.S. Bank Freight Payment provides the visibility you need to remove costs, improve working capital and create efficiencies with a freight payment partner you can trust. - Uncover savings with 100% pre-payment audit. - Resolve exceptions quickly and reduce errors by collaborating online. - Gain complete oversight of all funds received and disbursed.
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