Hidden Profits: Shipping Industry's Struggle with Invoice Accuracy

Abstract
Invoicing inaccuracies have plagued the air freight and ocean industries for many years. Inherent factors, including complex and volatile pricing, and the need for carriers, NVOs, and forwarders to cut costs, continue to perpetuate this problem. Invoices are often overcharged or under-billed. Customers identify overcharged invoices and either short-pay or file an overcharge claim, but under-billed invoices are often neglected and the result is hundreds of millions of dollars in lost profits to suppliers. Recouping these hidden profits is the foundation of ARG’s Cargo Revenue Recovery service—and the benefits are impressive. Some major carriers have experienced a 5% gain in gross profits without incurring any incremental cost.

 

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Customers complain when they are overcharged, but do they say anything when they are under-billed? Most are glad to pocket the extra profit, and don’t speak up.

5 REASON WHY ARG'S SERVICES SUIT YOUR BUSINESS

Requires few resources to implement & maintain

Improves profitability by recapturing under-billed revenue (greater than $100 million since 2004)

Has benefited every client, from small players to major global carriers (references available

Provides quick, insightful analysis of revenue streams, enabling clients to swiftly implement process improvements and increase downstream profits

Is conducted in a highly secure manner (SOC 2 Type I compliant)