Sometimes carriers deliver packages late, miss deliveries or make billing errors. And most contracts tell businesses that when shippers make these mistakes, they’ll give them refunds. But many companies fail to claim those refunds — potentially leaving thousands of dollars on the table.
Make sure you know when you’re owed refunds, how to audit your invoices and how to file claims. And if you don’t, find a trusted partner to help you review your records and collect those funds.
DO Know When to File a Claim
Many companies may not even know they’re entitled to certain refunds. Start by reviewing your contract to understand which mistakes your carrier is willing to pay for. Common company refund opportunities include late deliveries, missed deliveries, incorrectly applied surcharges and other billing errors.
Make a list of these items, then study your invoices so you know how to tell when a shipment was late or when surcharges were wrongly applied.
DO Become Familiar With the Claim-Filing Process
Every carrier has a different process for applying discounts and credits. Typically, filing a claim is a multi-step process, which involves identifying the error, then appealing an incorrect charge or applying for a refund on the cost of a late delivery.
Talk to your carrier’s customer service team about the claim-filing process now, so that when you need to file one, you’re able to do so within the time limits and without errors.
DO Audit Your Invoices
Your carrier probably isn’t going to highlight its mistakes, but notes about late deliveries and surcharges will appear in your delivery receipts. It’s up to you to review those invoices and make sure they’re accurate.
This is a lot of work — which is why Reveel, a shipping intelligence and consulting firm, offers to do it for you. We provide a 45-point inspection of all shipments and quickly discover errors, and files the claims on your company’s behalf.
DON’T Wait too Long to File Your Claim
To be effective, invoice auditing has to be immediate. Most carriers only allow their clients 15 days to file claims. That means, if you fall just two weeks behind on invoice auditing, you may no longer be able to submit a claim form and recover the refunds your carrier owes you.
DON’T Skip More Careful Review of Your Invoice Data
Collecting all the refunds you’re owed is an important step in reducing your shipping costs. First, it eliminates unnecessary spending. But, invoice auditing can also help your company develop a broad, detailed dataset that can reveal inefficiencies and allow your executives to reduce long-term costs.
Knowing what, when and how your company ships its products will help you understand what changes you can make to streamline your shipment process and reduce your costs. The one-time savings of carrier refunds are important, but these year-over-year, sustainable savings can significantly impact your bottom line.
DO Find a Partner to Help You
Reveel’s consultants can help you implement our Reporting and Analytics tool, which catches the kind of errors that may lead you to file claims. Then, we check whether that claim is valid, file it on behalf of our clients, and follow up to make sure they collect the money they’re owed.
Working with Reveel takes the challenging work of invoice auditing off busy executives’ plates. And our business model is built on our clients’ success — if you don’t save money on shipping, we don’t get paid.
Try a free invoice audit today to see how we can help your company recover refunds right away and cut shipping costs long-term.
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