Freight Settlement
Freight settlement is the process of managing and processing payments for transportation services provided by carriers. It is a critical component of transportation management, as it helps businesses to accurately track transportation costs and manage their budgets. SAP Transportation Management (SAP TM) provides a comprehensive solution for managing freight settlement, allowing businesses to streamline their transportation processes and improve financial visibility.
SAP TM’s Freight Settlement functionality includes the following key features:
Invoice Processing: SAP TM’s Freight Settlement module provides a user-friendly interface for processing carrier invoices. The system allows users to verify the accuracy of invoices, match them to freight orders and ensure that the correct rates and tariffs are applied.
Cost Allocation: Once the invoices are processed, SAP TM’s Freight Settlement module provides powerful cost allocation capabilities that allow users to allocate transportation costs to specific freight orders, customers or cost centers. The system can also calculate and allocate surcharges, accessorial fees and other charges.
Payment Processing: SAP TM’s Freight Settlement module provides flexible payment processing capabilities that allow businesses to manage payments to carriers. The system can generate payment orders, support various payment methods and provide complete visibility into payment status.
Reporting and Analytics: SAP TM’s Freight Settlement module provides advanced reporting and analytics capabilities that allow users to track transportation costs, analyze freight spend, and identify cost-saving opportunities. The system can generate standard reports and also supports custom reporting.
Overall, SAP TM’s Freight Settlement module provides a comprehensive solution for managing freight settlement, from invoice processing to payment processing. It helps businesses streamline their transportation processes, improve financial visibility and manage their transportation costs more effectively.