For large enterprises or high-volume shippers that are integrated with the carriers via Electronic Data Interchange (EDI), Invoice Payment Remittance (IPR) works seamlessly within existing information systems and payable procedures to eliminate invoice late fees and reduce the number of hours spent processing invoices into ERP systems. The intent of this guide is to detail the benefits of Invoice Payment Remittance (IPR) and how it works.
Benefits of Invoice Payment Remittance
With IPR, 100% of carrier invoices are audited prior to remittance. IPR saves your customers’ accounts payable department from having to manage and reconcile multiple carrier payments by compiling all approved expenses into a single, consolidated invoice. Customers recover the time spent preparing remittance documents, sending ACH to carriers and processing invoices into ERP systems against open purchase orders.
Invoice Payment Remittance (IPR) workflow
- Invoice Payment Remittance (IPR) receives carrier invoices in near real-time through EDI feeds.
- An audit of invoices and shipments is performed. Individual packages are audited for late delivery, surcharges, address correction fees, lost and damage, duplicate charges and more.
- Invoice discrepancies are identified, flagged for non-payment and adjustment-notification documents are created.
- Disputes are filed based on the penned carrier contract.
- Carriers respond to adjustment request and it’s processed by system.
- Remittance documents are submitted according to the transaction set standards defined by the carriers.
- All approved expenses are compiled into one consolidated invoice for the shipper to pay.
- Designed for high-volume shippers
- Handles multiple invoices efficiently
- Supports multiple carriers
- Eliminates short pays and overpayments
- Works seamlessly within existing information systems and payable procedures
- Integrates with the carriers Electronic Data Interchange (EDI)
- Schedule pay remittance reports within the system to pay the correct amount by check or ACH
- Learn about the shipment audit and recovery process