How to Stop Revenue Loss from Manual Billing in 3PL Operations
The logistics industry is evolving rapidly, driven by e-commerce growth, globalization, and increasing customer expectations. Amid this transformation, third-party logistics (3PL) providers face mounting pressure to streamline operations and enhance efficiency. Despite significant technological advances, manual billing remains a common yet costly practice, leading to revenue loss in 3PL operations.
A study by the Institute of Financial Operations and Leadership (IFOL) found that half of all teams spend more than 10 hours each week processing invoices, with poor process design emerging as the leading cause of stress. For 3PLs, this translates into slower billing cycles, delayed revenue realization, and prolonged dispute resolution timelines.
Source: https://www.ramco.com/blog/log....istics/stop-revenue-
