Trusted Settlement

With very rare exception, service providers do not intentionally seek to defraud their customers. However, despite good intent, errors such as those listed below do happen in greater than 10% of bills.

Liabilities incorrectly assigned
Charges that are not in accordance with contracted rates
Duplicate charges paid on another invoice
Charges for services that were not rendered

Trusted Settlement provides you with the tools and processes to drive down and eliminate these errors. Most companies would not accept raw material from a supplier that only meets 90% of the quality standards yet we accept invoices from suppliers with this level of error all the time. Spending time in dispute management and claims resolutions processes, getting calls from service providers about balance due bills and wasting valuable time working exceptions is not what Trax calls success. Rather, success is achieving up to six sigma levels of quality in the invoicing processes with your supply chain partners by not only addressing issues while or after they occur but working to continuously improve processes to prevent errors from repeating in the future.

Trusted Settlement enables this level of success for all types of logistics transactions from fulfillment processes and customs charges to chartered aircraft. Whether your preferences or local norms require a pre-payment audit, post-payment audit, pre-invoice audit, self-invoicing, guaranteed settlement, or a combination, Trusted Settlement is the right solution for you.

Pre-Invoice Audit & Payment - Get ahead of the issues. Leverage Trusted Settlement to reconcile data gaps and disputes prior to an invoice being created by your provider.

Self-Invoice Audit & Payment (pre- or post-reconciled) - Shift the invoice creation process from your service provider to yourself. Leverage Trusted Settlement to reconcile disputes before creating your invoice.

Pre-Payment Audit & Payment - Catch the issues before payment. Leverage Trusted Settlement to reconcile data gaps and disputes prior to a payment being issued to your provider.

Post-Payment Audit - Ensure neither you nor your processor miss addressing billing errors even after payment. Leverage Trusted Settlement to audit bills you have already paid.

Optimized Audit & Payment - Work strategically to settle disputes and resolve discrepancies with your providers prior to payment whenever possible and desirable. Pay your providers in good standing on time and resolve disputes through post-payment credits when necessary and desirable. Leverage Trusted Settlement to provide you with the optimal balance of accurate freight audit and payment, efficiency, local conformance and sound business partner management.

Guaranteed Settlement - A totally different approach to risk mitigation where both you and your provider turn the invoicing and settlement process over to Trax who acts as the settlement agent fully guaranteeing that the transaction will be accurate and paid according to your policies. Leverage Trusted Settlement to enable significant efficiencies while complying with your rules.

Trusted Settlement provides you with a means to efficiently and effectively manage the entirety of your freight and logistics services audit and payment needs globally. Trusted Settlement specifically drives:

Assured compliance with financial controls and corporate policies
Assurance that services are provided as requested
Assurance that charges are valid and rated correctly
Assurance that liabilities are yours and have not been paid via another means
Opportunity for financial solutions including early payment discount programs

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