Smart Ways to Handle Operational Billing Challenges in Logistics
A Logistics Service Provider (LSP) has multiple operational nodes like Sales, Transportation, Warehouse Operations, Billing, and Finance. The billing department is considered as one of the critical nodes as they engage with customers and vendors to ensure that cash cycle flow is maintained at an optimal level. Additionally, it is important as it is about managing the account of your customers, and also since it has financial repercussions.
It is a well-known fact that Logistics businesses are complex and dynamic in nature, and when it comes to logistics billing, the same aspect is applicable, perhaps with multi-fold challenges. In a transportation business, for example, the customer order can have multiple bills – each leg of the order billed separately, freight advance cycle, exception billing in terms of penalty, execution advance, and expense cycle. When we couple these parameters with the business volume, billing becomes even more complex.
Know More About: https://www.ramco.com/blog/erp....-for-logistics/smart
