In the logistics industry, missing invoices can mean significant revenue losses. In fact, poor administration in the UK haulage market alone is estimated to cost businesses around £1.2 billion annually.

Nobody likes to think they're missing out on revenue, but we’ve seen every new user who switches to Stratum from manual processes discovers gaps in their system that were costing them money. Don’t let it happen to you - Here are five actionable tips to help you stop missing invoices and ensure you get paid for all the work you do.

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1. Get a System for Recording Jobs, Runs, and Tasks Completed

Relying on paper processes like diaries or your own memory might work when your business is just starting out - but as your fleet grows, your business gets more customers, and you become responsible for more drivers, it quickly gets out of hand. Implementing a system like Stratum TMS can help you keep track of all your jobs, runs, and tasks in one place. This way, nothing slips through the cracks, and you can ensure every job is billed accurately.

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2. Automate as Much as Possible

Manual data entry is not only time-consuming but also prone to errors. Creating invoices one by one eats into your time (and often weekends) while only causing problems. Automate as much of your invoicing process as possible to prevent delays and inaccuracies.

Stratum streamlines the invoicing process, generating invoices without the need for manually inputting information. Generate invoices within Stratum alongside planning information and PODs, then see your accounts package updated seamlessly. Manage your process from start to finish on one central system. Cut out spreadsheets and manual work through automation and workflow optimization.

Work smarter and get paid quicker, move away from filling out and reconciling invoices at the end of the month, invoice with one click and keep revenue flowing.

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3. Enhance Communication and Documentation

Clear and concise documentation is key to avoiding disputes and getting paid for all the work you do. Record details like time on site, demurrage, load weights, and additional tasks such as pumping or cleaning. When your invoices are accurate and backed up by evidence, you waste less time on disputes and get paid faster.

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4. Digitize Your Work to Prevent Lost PODs

Using a driver app like InCabPro for sign-on-glass and ePODs instantly updates the office, accelerates billing, and makes it impossible for PODs to go missing. Digitizing your work ensures that all proof of delivery is captured and stored securely.

With InCabPro, drivers obtain their dockets and PODs using sign-on-glass in the app or through images and upload directly to the TMS.
Accelerate your cashflow by instantly receiving all the documents you need for invoicing as soon as the work is done.

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5. Gain Visibility with Comprehensive Reports

Without clear reports and data, understanding your financial performance is like driving blind. Use a TMS that provides visibility into your projections, earnings, and variances. What are your projections? How much do you expect to make? Why are you above or below? Without visibility and transparency with clear reports and data, answering these questions is impossible. With Stratum TMS, you can answer critical questions about your financial health and make data-driven decisions to stay on track. Get you the insights you need to stay on top of your billing process.

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Conclusion

Missing invoices can be a significant challenge in the logistics industry, but with the right practices and tools, you can ensure more accurate billing and protect your revenue. By centralizing your data, automating your invoicing process, conducting regular audits, using clear documentation, enhancing communication, and monitoring your process, you can minimize lost profits, and lower the risk of missing invoices.

Don't let disorganization or manual processes hold you back. Take control of your invoicing today and protect your bottom. Get in contact and lets talk about how Stratum solutions help you achieve these goals and streamline your logistics operations.

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