Matchpay Freight Payment Systems
A matchpay freight payment system matches data (such as a bill of lading, PO or other number) from a carrier invoice with records from a separate, authoritative source (such as a shipment file from a transportation management system) for verification. Matchpay systems can increase freight audit controls, provide general ledger accounting, aid in generating accruals, and feed additional, valuable data into the freight payment system, making more data available for supply chain analysis.
As an example, a shipper might send the freight payment system files from its transportation management system (TMS) or other load-tendering system to document a shipment. The file might contain information about the shipment (relevant GL account(s), mode, weight, SKU, etc.) as well as a unique identifier that would be included on the carrier invoice.
The Cass MatchPay system provides capabilities seldom found elsewhere. For example, most matching systems allow only one payment to be issued per shipment record, forcing all additional invoices, such as balance dues or accessorial charges, to be handled manually. Cass can systematically process multiple invoices against a single shipment, resulting in fewer exception invoices and the ability to accurately generate total shipment cost - all while still maintaining good duplicate controls.
A matchpay system also improves process efficiency for unique and sometimes complex scenarios such as pool shipments, stop-offs, milk runs, intermodal shipments, Rule 11, and a variety of industry-specific movement types.