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Carriers, Don't Let Common Payment
Delays Slow You
Down!

PowerTrack First
Annual Transportation
Club Meeting a
Smashing Success! 

Save the Date! Join Us For the PowerTrack Webinar Series 

Carrier Referral
Program

Tracker Tip: Reduce
Your Data Entry!

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Email: info@powertrack.com

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1-800-417-1844

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Carrier's, Don't Let Common Payment Delays Slow You Down!

Has your company come to expect payment in 3 - 5 days after the invoice date? It should. If your payments are being delayed, PowerTrack can help you identify trends and resolve issues that result in payment delays. Get paid faster! Read on to learn more about reducing and eliminating delays in payment. 

The most common cause for payment delays are audit exceptions. What exactly is an audit exception? An exception includes any transaction that fails the automated audit and approval processes, needing manual attention.  Audit exceptions are usually triggered by:

• Rate Discrepancies (Mileage base/versions, etc.)
  
• Unexpected Accessorial Charges (Detention, Unloading, etc.)
  
• Billing errors (errors in quantities, weights, amounts, etc.)

The good news? PowerTrack has the tools you need to identify and quickly resolve exceptions that cause payment delays. Becoming familiar with the "Find" capability in PowerTrack is one of the first steps in receiving payments quickly. The "Find" feature allows you to search for transactions that are both paid and unpaid. Better yet, PowerTrack recommends the Stored Find feature. Stored finds permit you to save specific sets of search criteria you frequently use to find payment information. As a best practice, PowerTrack suggests sellers utilize the following stored finds:

• Approval Required, Service Event Complete: Locates transactions for which the seller has confirmed the service completion event, but the buyer has yet to approve payment.
  
• Audit Exceptions: Locate transactions that require intervention by you and/or your trading partner.
  
• Unmatched Seller: Locate transactions for which the seller has provided the invoice, but the buyer has yet to provide the BOL.

PowerTrack reports also help pinpoint payment delays. Complete with inclusive trend analysis and simple export capabilities, PowerTrack reporting tools provide comprehensive, easy-to-read reports displaying data important to you. In order to get paid faster, PowerTrack recommends running the following reports:

• Payment Delays report. The Payment Delays report identifies reasons payment on an invoice is delayed. Specifically, is the delay caused by the buyer or by the seller? This report can be used to help recognize who is delaying the payment, as well as how long the transactions have been outstanding. The Payment Delays report also enables you to spot trends and resolve systematic or recurring problems.
  
• Standard Data Analysis reports. Standard Data Analysis reports are designed to simplify the complexities your data and export predefined reports that display your financial, logistical, and key performance indicator information. Standard Data Analysis reports offer valuable metrics, account visibility, and user-friendly readability.
  
• Lifecycle Statistics report. The LifeCycle Statistics report identifies inefficiencies or gaps in the transaction life cycle. This report takes key events in the transaction's life cycle. For example, you can see how long it takes for approvals and notification of service completion. This report also shows how fast PowerTrack pays after all requirements are met. Reducing these delays can also have a positive impact on trading partner relationships.

To access the reports, log into PowerTrack, choose Reports, and select the report you would like to run.

Most importantly, remember PowerTrack requires two statuses in order for payment to be made:

• The shipper/buyer must enter Approval Final status.
  
• The carrier/seller must enter Delivered status

Lastly, don't forget about PowerTrack's online help files and Quick Reference Guides! PowerTrack offers a wealth of web-based training and reference features that contain more information about reducing your number of payment delays. Simply log into PowerTrack and select Quick Reference Guides in the left-hand navigation or choose Navigation along the top menu to view the online help.

Still have questions? Contact a PowerTrack customer support representative at 1-800-417-1844 or at customer.support@powertrack.com .

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