How do you confirm payment to terms?

A3 regularly hears from prospective clients that their current solution does not provide settlement information for carrier payments.  When we inquire with them how they measure payment to terms (one of the the primary metrics all shippers should use to gauge their solution) the simple answer is "we don't".  Which then leads us to ask how they know if their carriers are being paid at all.  Usually this elicits a blank stare and then a response along the lines of the carriers notifying them if they didn't get paid. 

While this is a strategy, A3 recommends a solution that not only offers settlement details for all payments but also complete payment history and carrier scorecarding of payment to terms as the minimum ante for a provider who is handling millions of dollars of payments for your company.  Without this information, shippers are at a disadvantage in carrier contract negotiations at the least and opening themselves up for late detection of financial fraud in the worst case scenario.  If you are interested in closing the loop on this potential liability for your firm, give us a call.

A3 offers apps that show payment history, payment to terms metrics, and settlement dates at the invoice level.




Posted by Craig Cameron at 11:25