Why spend time on
checking invoices?

Checking invoices might not be the most exciting task and often ends up getting less attention.

Fact is that incorrect billings are common.

There are different reasons why this is but the result could be that you end up paying more than you should.

It's estimated that 2-3% of a company's total spend might relate to overbillings and if you aren't aware of this your company is missing out bottom line money.

You might do spot-checks, but this will only catch a fraction - if any at all.

We can help you free up these resources and at the same time give you the right gut-feeling.

Post-audit

Check of historical invoices will give you the answer if everything is okay. Call it a “sanity-check”.

TFC offers a solution that doesn’t require much involvement from you. You can choose not to involve your service providers at the first stage, but we recommend you do.

All needed are your rate-agreements in Excel or similar and freight invoices in PDF or Excel.

Standard range is a 6-12 months period (depending on numbers of invoices). If the result is an eye-opener the period can be extended to at least the legal limitation period in your country.

Invoices will be match against agreements and result in a report showing all findings and type of error. TFC will address any findings directly to your TSP.

Pre-audit

If the result of a post-audit was an eye-opener next step recommended is to set up a running control of new invoices.

There are others advantages beside securing that you are billed as per your agreement.

Invoice accuracy will improve as service providers seem more focused when knowing a 3rd party is monitoring their billing.

You will have a complete set of spend data across different service providers and mode of transport - on a monthly basis.

You will also receive info about “grey-zones” like unclear cost in your rate-sheet and/or wording in your contract that may result in additional cost being billed.

The process can be establish in a few days without any technical involvement and cost besides a startup fee. Invoice control is based on a fixed monthly fee.