FPO is often a misunderstood term. It’s a catchphrase that has individuals more often than not nodding their heads in compliance when they hear it, but don’t understand what it truly means. Today we hope to clear the air and explain all that FPO is and can do for your freight company.
Here at DDC FPO, we specialize in FPO. So what does the acronym mean? FPO stands for freight process outsourcing. It is the digitization, capture and processing of freight documents with the end result of reducing your freight company’s back-office costs and improving your operational efficiencies so that you may focus on your core business.
FPO is a technologically savvy series of systems that includes freight bill entry, freight rate auditing, data processing and data delivery -all through a hybrid of on-and-offshore work. Ready to learn more? Let’s dive in!
Remote Freight Bill Entry
Billing may not be fun for the non-accountant-types, but when it accounts for over 10 percent of a trucking company’s expenditure, it simply can’t be ignored. Many carriers find that billing is not only a big expense, but an enormous headache. DDC FPO has developed a remote freight bill entry solution which simplifies this process- by eliminating manual data key entry through technical data capturing, increasing accuracy, reducing errors, improving efficiency and reducing this back-office cost.
It’s a faster, streamlined semi-automated process.
Freight Rate Auditing
This one is pretty simple. It’s the process of examining, adjusting and verifying carrier freight bill accuracy for you, so that you don’t have to. Your freight bills are examined by an industry-trained staff. It helps prepare you for your audits and gives you a holistic look into your company.
FPO includes the two solutions above. However, FPO goes a step beyond just collecting, digitizing and adjusting data. Direct Data FPO companies will take the data collected, then capture and process it for you. Often, this is done through a hybrid on-and-offshore systemthat will allow 24/7/365 data processing -providing you access to your data anytime of day.
The data will show places where businesses can:
- Save money
- Gain efficiencies
- Cut labor costs
- Reduce risks and increase predictability
- Have higher accuracy ratings
- Have around-the-clock processing
- Have faster invoicing and tighter controls on your business
Ultimately, creating a customized business strategy will assist you to grow your business both in good and poor economic conditions.
FPO is more than just an acronym that is synonymous with capturing data. It is a system that will do the number crunching for you. It is processing and analyzing your data for you, so that you can focus on what is important to your company: your clients and your shipments.