U.S. Bank Freight Payment
Find cash in your supply chain
Gain efficiencies Increase visibility Improve accuracy Enhance working capital
An effective supply chain means having the right goods in the right place at the right time. It requires fostering strong relationships with your carriers — and delivering timely payments. That’s why you need a payment partner you can trust to pay your carriers on time and provide the visibility you need to ensure efficiency. U.S. Bank Freight Payment — the pioneer in electronic freight payment — is a comprehensive, online solution designed to streamline and automate your freight audit and payment processes and provide the business intelligence you need to make your supply chain a strategic advantage. All while providing the reliability and security that only a bank can provide. U.S. Bank automates the freight payment process, providing invoice processing and payment with integrated trade finance to create an end-to-end solution. Our solution eliminates paper, reduces manual entry, provides complete visibility and improves cash flow. Processing
Process invoices with unrivaled accuracy and efficiency. • Streamline processing – Eliminate costs associated with billing errors, collections, late payments and reconciling invoices after payment • Automate audit and payment processing for any type of invoice: paper-based or electronic • Eliminate duplicate invoices and payments, phantom shipments and incorrect charges • Integrate seamlessly with other systems • Rely on flexible, 100% pre-payment audits – Customers can save 2% to 4% in their monthly transportation costs* • Gain accurate invoice detail at both header and shipment level • Get real-time invoice details online • Put critical supply chain data at your fingertips
*Audit savings reflect difference from billed amount to actual paid amount by U.S. Bank and Elavon Freight payment customers.
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Payment
Make electronic payments on time, around the globe. • Reliable and predictable payments to your carriers with real-time visibility • Simplify your transportation expense management • Improve working capital — U.S. Bank sends one consolidated invoice per month for all of your transportation spend
Trade Finance
Extend payment terms while still paying carriers quickly — optimizing working capital for both parties. • Improve carrier relationships — Carriers get paid in as little as four days from approved invoice instead of the typical 30-day terms
Robust reporting helps to analyze spend and compare carrier costs • Spend per mode and carrier • Variances of invoiced amount compared to rates • Lane segment analysis
• Enhance your working capital even more by extending transportation payments to 60 or 90 days without renegotiating carrier contracts
Business intelligence
Put it all in perspective with reporting tools that can help you turn raw data into valuable insights. • Improve decision making and control costs • Identify unnecessary expenditures, excess services and variances from contracts • Assess supplier performance and optimize your freight payment processes
Collaborate with carriers
Strong relationships with your carriers are critical for a reliable supply chain. U.S. Bank Freight Payment brings shippers and carriers together by reducing the administration burden, providing unique, collaborative tools and trade finance to improve cash flow, processes and costs.
Carriers
Accelerated Payment
Transaction Information
Electronic Processing
Collaborative Interface
Electronic Freight Payment Solution with Trade Finance
Exception Resolution
Electronic Settlement
Improved Cash Flow
Shippers
Transaction Information
Business Intelligence
Supply Chain Efficiency
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About U.S. Bank Freight Payment U.S. Bank Freight Payment delivers innovative solutions and high-quality service for some of the largest and most sophisticated supply chains. We combine transportation, logistics and supply chain expertise with the backing of one of the world’s leading payment providers, and the financial security and compliance of one of the world’s leading financial institutions. This has made us one of the world’s leading freight payment providers. U.S. Bank provides trusted business-to-business solutions for your global freight payments.
Contact U.S. Bank for more information 866.274.5898
[email protected] usbpayment.com/freight-payment
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