LOUISVILLE, Ky — UPS has completed the launch of the its Billing Analysis Tool, a global expense management technology for customers that converts transactional billing data into a solution for analyzing and managing global transportation costs.
UPSs billing technology portfolio now provides customers around the world the ability to analyze detailed financial information about their package shipping activity in 36 of the worlds most active trading countries, all in a single data file. The information is available to customers in 21 languages and can be converted into the customers preferred currency.
The Billing Analysis Tool not only enables customers to segregate, view and produce reports on international, ground and express shipping charges, but also breaks out associated costs such as duties, taxes and total customs and brokerage fees.
The often confusing blur of doing business globally is better managed using UPS Billing Analysis Tool, said Dave Barnes, UPS senior vice president and CIO. This innovative solution offers clarity, organization and accountability.
The Billing Analysis Tool has enormous potential not only for logistics management but also for accounting and procurement functions. Because it provides some 180 shipping and billing data elements, both large and small enterprises can use it to analyze and allocate transportation expenses according to their individual needs.
For example, AWC, Inc., a U.S.-based industrial equipment distributor, uses the Billing Analysis Tool to review its entire weekly bill and to code more than 1,000 UPS shipping charges in less than four hours. Now AWC is able to more easily allocate shipping charges to the appropriate sales division and pinpoint where costs can be reduced, such as billing customers when appropriate.
Client service firms, such as those in the legal and advertising industries, also can use the tool to allocate costs to appropriate accounts using their reference code information. Retailers and manufacturers can view and monitor charges by third-party shippers, such as suppliers and vendors, as well. And any business can use the technology to review and manage charge-backs and expense allocations for various inter-departmental functions.
Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry. All posts by Truck News