When you plan or consider upgrading your software how much consideration do you give to finance and accounting? When considering upgrading to an ERP or fully automated application for your logistics and freight business you need to give due importance to finance and accounting as you do to your freight, transport and warehouse operations.
Like most logistics and freight companies you may have had bad experiences with your revenue and accounting management undergoing revenue losses due to mistakes and oversights. This can be easily avoided if finance and accounting along with operations viz. freight, transport and warehouse is interwoven in a single software.
Ideally finance and accounting should be an integral part of your ERP software and not an integrated application or third party software. A single software that has finance and accounting too automates the most important aspects of your finance and accounting viz. invoicing, charges booking, receivables and payables. Thus you can avoid much manual work and prevent revenue leakages.
Free Demo!An advanced logistics and freight software helps you control and manage your finances while enabling you to eliminate revenue leakages by interweaving the logistics and freight operations with financial accounting in a single software. The key benefits that you normally do not find in an integrated or third party accounting software include but not restricted to are:
- Automated calculations and auto generation of invoices without manual intervention, preventing mistakes that can cost your company dearly.
- Keeping tab on shipment-wise expenses and revenue with reports on shipments, shippers and consignee basis.
- Notifications, timely updates, auto alerts and real-time notifications regarding your shipments. Periodic follow-ups with regards to payments and complete visibility on the credit history of clients
- Transparency in accounting process and facility to monitor, evaluate and manage all activities from quotes to invoices
- Automation of entire accounting process to help keep tab on the flow of all revenue-related information from operations.
All these and much more is possible with a single software that includes finance and accounting. Being completely interwoven with your operations it makes for better control over your finances and helps strengthen the bottom line. With your accounting and finance part well under your control you can do away with a major worry that afflicts your business punches a hole in your profits.
Originally Published in Portcalls Asia Magazine
https://www.portcalls.com/using-technology-to-prevent-revenue-leakages/
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