5 Benefits of a Global Freight Audit and Payment Strategy
Updated: 03-25-25
Key Takeaways
Improved Cost Management – A global FAP solution provides instant access to transportation costs, leading to deeper insights, better financial management, and faster decision-making.
Enhanced Data Visibility – Consolidating data into a single platform reduces billing inaccuracies, ensures compliance, and increases efficiency, especially for regulated industries like life sciences.
Optimized Freight Operations – Aggregated carrier data simplifies contract management, improves transportation logistics, and reduces operational costs, benefiting industries like CPG.
Stronger Brand Loyalty – Real-time shipment tracking and accurate freight payment insights enhance customer confidence and brand reputation, particularly in retail.
Scalability & Efficiency – Automated workflows, cloud-based storage, and streamlined communications eliminate manual inefficiencies, enabling global tech companies to scale effectively.
They say the best ability is availability. Chances are you have heard the statement in the sports world, but it also rings true when discussing a global freight audit and payment (FAP) solution.
As supply chain data pours in from every corner of the globe, being able to get the data and use the data—especially financial data—is imperative.
This is especially true when calculating the cost of running a business and managing overall supply chain costs. Instant access to transportation costs means deeper insights, better management, and fast decision-making, ultimately saving your company money.
Moving to a global FAP solution can seem daunting if you’ve been invested in a traditional, or regional-based model, especially when it comes to freight invoice processing. But the ROI of adopting a global approach is compelling.
Collecting information into a single platform solves many common challenges associated with a fragmented system, such as billing inaccuracies, insufficient data, and delayed auditing, which are critical issues for global companies.
Add up all of the pieces, and the results are clear – a global FAP solution simplifies the complex freight audit and payment process, saving organizations with a worldwide footprint time and money.
Trax helps global enterprises streamline the freight audit and payment process, helping businesses like yours gain full control over transportation costs. Large-scale companies can eliminate inefficiencies by simplifying complex challenges and ensuring that money isn’t left on the table.
Let’s evaluate the benefits of global FAP solutions across some of the largest sectors in international commerce.
Global FAP and Data: Example From Life Sciences
End-to-end visibility is important for any supply chain, but it is mission-critical for companies in the life sciences industry. Each data point and decision becomes increasingly important when shipments save lives. Strict regulations, higher associated operating costs, and higher-than-average damage claims are all standard OP, with complexities around every corner.
Organizations that choose a global FAP solution are voting for full visibility. As visibility increases, the likelihood of clerical errors, inaccurate claim information, freight invoice discrepancies, and compliance issues is drastically reduced, making the management of your supply chain more efficient.
Efficiency within the process, including post-audit checks, keeps shipments moving, billing accurate and up to date, and growth within reach.
Freight Invoice and Contract Management: Example From CPG
Choosing the right carriers to ship freight and manage a carrier network is vital. The key component for global enterprises to reduce costs and mitigate risk is – DATA.
When data is fragmented, only a small portion of the picture of how a carrier is performing is available. Aggregated data through a global FAP solution bring the entire picture into view, simplifying freight settlement and improving transportation management.
Critical pieces of your global shipping infrastructure become visible, making it easier to manage a carrier network, ensure the timely delivery of payments, and reduce operating costs such as accessorials.
With tools like Trax's Rate Manager, global forecasting is at your fingertips, providing reporting capabilities that would otherwise take people power and people hours to assemble using only a regional FAP system.
Brand Loyalty Through Freight Payment Insights: Example From Retail
Taking care of your customers is Business 101. When a monkey wrench is thrown into the global supply chain, many organizations are often left scrambling to find and resolve the issue to keep deliveries on time.
A timely and unified view of shipment activity isn’t achievable with a fragmented FAP system in place. Consumers demand shorter delivery times. Sorting through freight data bogs down the process.
With a modern, global FAP solution, real-time tracking is available within 24 hours. Tracking that is aligned with carrier data increases customer confidence and brand loyalty.
Operational Efficiency: Example From Tech
As well-funded tech organizations move upstream, scalability becomes a focal point. Pieces that once worked may be too small or rigid to play in bigger leagues.
Many people think tech companies live in the cloud, but the component parts of most tech products, or even the systems and computers required to fuel those products, depend on manufactured products. Every tech company relies on supply chain operations and systems.
The infrastructure required to become publicly traded or operate globally is often underestimated. Not having global, sophisticated solutions is a mistake for any growth-minded tech company. Manual processes can quickly compound, resulting in time delays and increased operational costs.
Global FAP solutions need cloud-based storage with automated workflows between suppliers, support teams, and managers. This ensures freight invoice accuracy, faster payment processing, and reduced billing errors. Phone calls and email outreach are replaced by internal communications tools that follow every interaction, helping your team save time and build a story around each piece of the global FAP puzzle.
Invest in Global Freight Audit and Payment Services
Simplifying the complexities of your freight audit and payment process is mission-critical for global success in any industry.
The better the information, the easier it is to make impactful decisions for your global enterprise. Outdated processes and incomplete information restrict your ability to manage your transportation spend and scale your business.
We can’t wave a magic wand and instantly streamline your global FAP process, but we can get pretty close. With Trax’s enterprise-level tools, you can delve into rich data, gain deeper insights and transparency, and make confident decisions that will drive your business forward.
To learn more about our solutions, connect with our team and schedule your consultation today.