Integrated accounting in Logistics - millions of transactions, automated, centralised ... efficiency for profit margins.
30th Oct 2019
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While all businesses need smart operational processes and a comprehensive knowledge base, for 3PL and 4PL logistics companies the ability to capture information, track, analyse, understand and report on key performance indicators (KPIs) IS their business.
A logistics company's real-time document knowledge base should comprise information on multiple hourly and daily tasks and transactions, asset management, revenue performance, contractual agreements and staff records, among other critical information.
How do you achieve information immediacy when your business comprises millions of dispersed data points across multiple documents types (paper, electronic, photographic), from Goods Received Notices (GRNs) and Proofs of Delivery (PODs), to thousands of fleet management (maintenance) and driver records.
Two major barriers that often prevent easy access to important information are that documents are not held in accessible, interpretable, actionable formats or information is housed in silos, where data is stored in separate blocks or locations.
Such blocks may be a piece of software, like an accounts package, or a manual system where information is received and filed as paper documents.
When logistics businesses grow, whether organically or by acquisition, document management efficiency can deteriorate. In the first instance basic systems that helped the business to grow cannot support more dynamic demands; while mergers frequently result in disparate systems that recreate the silos they were intended to prevent.
The key to putting information at the fingertips of the operations team, managers and customers is to remove silos by bringing information together in accessible formats that make work flow.
Document Logistix' Document Manager is a scalable solution that enables 3PL and 4PL logistics companies to deliver a departmental or company-wide document management strategy for data capture, processing, storage and retrieval of critical information. Today, as in any business, logistics firms keep a close watch on GDPR compliance; automated redaction and retention periods help to alleviate concern surrounding audits and fines.
The final word in most businesses is profit. Logistics necessarily centres on efficiency in order for a logistics firm to compete. Accounts integration across procurement, operations, accounts payable, customer service and compliance translates into efficiency that increases profite margins and customer loyalty.