As companies compete to reduce lead times and get products to customers faster and more efficiently, 3PL providers face the pressure to innovate. That’s why companies must make account management and billing processes faster and more efficient.
Challenges 3PL Companies Currently Face
Integration and Compatibility
For a 3PL business to meet customer needs, it must work together with all supply chain partners. With several partners in the chain and a lot of data exchanging hands, there is a need for the integration of data and systems.
This level of cohesion demands that all systems are integrated seamlessly and compatible. As more partners are added to the chain, the process can get complicated. Everyone may have different systems that can be harder to integrate.
Automation and Digitization
Automation and digitization are vital for 3PL companies seeking efficiency and cost-cutting. However, these can only be implemented after your warehouse inventory management and transportation planning processes are optimized.
Software solutions for your company must be tailored. Given the complex nature of the industry and the general labor shortage, it can be hard to find IT specialists who can deliver customized software.
Billing Management Challenges
Billing in the 3PL world is complex and overwhelming. Customers can have different billing cycles and are charged different rates. The fees also vary depending on the services they consume. Incorrect billing or inefficient processes are dangerous. Customer dissatisfaction can increase, and internal issues may arise, leading to the loss of clients.
You can tackle these billing challenges with an Order Management System (OMS) or Warehouse Management System (WMS). But finding the right system is a challenge.
Why 3PL Capability and Organization is Important
Efficiency is the name of the game for 3PLs. Efficiency in such a dynamic industry demands that your systems and processes are optimized to handle massive workloads while accounting for the intricacies of the system.
Account management and billing are often where companies struggle. Transportation and logistics can be outsourced for efficient management, but billing must be handled internally. For 3PLs struggling with billing and account management, VeraCore offers the tools and techniques you need to meet your business goals.
Strategies and Tools for Optimizing 3PLs Account Management and Billing Process
Billing Automation
For businesses looking to grow and expand, we recommend implementing billing automation.
It helps you automate day-to-day processes such as charge capture, billing, and invoice management. You can also generate and record monthly reports, track costs, and expedite end-of-month billing processes. With VeraCore’s Automated Billing, you will experience reduced errors and real-time tracking, and you can integrate billing with accounting systems for increased efficiency.
Account Management
Effective account management is another crucial aspect of 3PL operations. For effective management, you need access to real-time data, 100% visibility, and need to streamline work processes to better serve your valuable accounts. VeraCore’s Account Management solution offers you just what you need. Our Account Management system works as an extension of your business, enabling you to serve customers efficiently, without compromising on data security. With remote access, you can service your clients across the globe without geographic limitations.
The logistics landscape is evolving rapidly and 3PL warehouses must keep up to stay ahead of the competition. Critical challenges like billing and integration can be solved using the right tools and technologies.
VeraCore’s Automated Billing and Account Management software is the go-to choice for 3PLs. With 40 years of experience in the industry, we are well-versed in the unique challenges you face and have developed solutions tailored to your business. Our comprehensive software solutions are designed to increase your efficiency and optimize your processes. Connect with us today and get started on accelerating your business growth!
VeraCore is SaaS order and warehouse management software trusted by top fulfillment companies and 3PLs. Affordable, flexible, easy to use; VeraCore is everything you need to keep clients happy and run a lean operation.
With VeraCore, you can grow your business and handle any challenge with ease. Rules-based automation enables you to control all aspects of your warehouse operation and satisfy each of your clients’ unique requirements.
Hundreds of fulfillment service providers and 10,000+ fulfillment clients place VeraCore at the “core” of their business to get the job done right, for over 40 years.