Outsourced Logistics

Container Shipping Technologies Launches First Real-Time Ocean Freight Invoice Audit Tool

Guaranteed to Eliminate Overpayments and Provide Revenue Generation,

and Cost Containment as a Recession Fighting Tool

NEW YORK, NEW YORK – With every shipper, ocean carrier, third party logistics provider and NVOCC trying to save money and gain new sources of revenue, Container Shipping Technologies Ltd. has launched the first real-time pre-audit tool dedicated exclusively to the ocean freight sector, which is guaranteed to eliminate invoice rating errors.

Known as RightRate℠, the proprietary web-based vessel/voyage invoice control system automatically monitors the accuracy of ocean freight invoices on behalf of shippers, ocean carriers, third party logistics providers and NVOCCs. The one-of-a-kind technology identifies discrepancies and resolves them in real-time, including invoicing errors that are under-billed or over-billed. This ensures accurate billing, improved earnings and helps avoid the time and cost of an invoice compliance audit. RightRate℠ also identifies deficit revenue billings at the container level, which contributes to improved carrier and NVOCC earnings.

The RightRate℠ dashboard instantly displays overcharges and undercharges in a US Dollar and non-US Dollar variance report, which is available 24 hours a day and is fully exportable to Excel.

According to Container Shipping Technologies’ founder, Steve Ferreira, there are no other solutions providers offering a pre-audit tool dedicated exclusively to the ocean freight sector. “We created RightRate℠ to detect and correct ocean freight invoice errors in real-time, thereby eliminating disputed overcharge claims, reducing post-audit dependency, preserving shippers’ cash, boosting carrier/NVOCC earnings and improving documentation. We believe in our system so much that we offer a money back guarantee if our customers’ return on investment is less than forecasted using RightRate℠.”  

From the shippers’ perspective, RightRate℠ offers cost avoidance as the invoice is corrected real-time before it is paid. From the carriers’ perspective, it generates revenue that is overlooked or incorrectly billed by the carriers’ documentation center. For NVOCCs it provides both cost containment and new revenue on the buy/sell side respectively. “And both carriers and NVOCCs benefit from documentation accuracy, which is key to gaining the trust of their shippers,” said Ferreira.  

“In developing our system over the past two years, we created many unique patent pending tools to ensure the accuracy of our data,” said Ferreira. “We have found that the top 500 importers/exporters average more than 100 invoice errors per month, which our tool continuously corrects in real-time. Ocean carriers are utilizing RightRate℠ to eliminate revenue leakage on undercharged invoices and as an earnings improvement tool. Our customers are also excited about the ‘green’ aspect of RightRate℠ as it is helping them go paperless.”

RightRate℠ operates as a support function to the client, not as a SaaS or on subscription. “Most clients today are resource sensitive – they don’t have time for long training sessions so we created a very simple system which takes about 30 minutes to learn. By running RightRate℠ out of the box, our customers see results the first day,” said Ferreira.

As founder of Container Shipping Technologies, Ferreira brings more than 28 years of experience in the ocean shipping and logistics industry to the company. He also founded Ocean Freight Refunds Inc. in 2004, a dedicated ocean freight post-audit company, and the industry’s only 100% ocean freight post-audit tool. He sold his first audit company, TradeCheck, LLC to the Profit Recovery Group (Public Company; PRGX; Financial Services industry).  Prior to that, Ferreira worked in both Asia and the United States with Sea-Land Service and United States Lines.

About Container Shipping Technologies Ltd.:

Container Shipping Technologies Ltd. has created the first real-time pre-audit tool dedicated exclusively to the ocean freight sector. The patent pending tool, RightRate℠, is guaranteed to eliminate invoice over-payment and under-payment and generate cost avoidance or earned revenues for its customers. For more information about Container Shipping Technologies, please contact Steve Ferreira at 646-312-7905 or   SteveF@vesselvoyage.com

ChemLogix LLC today announced that it will leverage solutions from Ariba, Inc., (Nasdaq: ARBA), the leading spend management solutions provider, to enhance its Freight Procurement Services.  As part of ongoing efforts to drive even greater savings for its customers, ChemLogix will deploy Ariba^® Sourcing^™ On-Demand in combination with its own unique market intelligence and industry rate benchmarks to help chemical shippers match shipments and traffic lanes with the best available carriers.  “Many chemical shippers are finding freight savings through on-line freight procurement,” notes Ed Hildebrandt, ChemLogix’ Senior Vice President of Operations.  “By combining our proprietary carrier rate database and up-to-date market intelligence with an RFQ management tool powered by Ariba’s sourcing solution, we can better assist clients in achieving significant freight savings in a shorter period of time.” A robust and flexible offering, Ariba Sourcing On-Demand combines the technology, expertise and services needed to create effective markets for a wide range of direct materials and indirect goods and services. Using integrated best practice processes, shippers can improve the efficiency and effectiveness of their procurement operations and create value across their entire organization. Delivered as a hosted solution, Ariba Sourcing On-Demand requires no investments in special hardware and can be quickly and cost-effectively implemented across locations and geographies.  Prior to placing online bids to carriers, ChemLogix’ Freight Procurement Services uses its extensive rate database and dynamic market intelligence to benchmark current rates vs. “best in class” in the shipper’s lanes by mode. Using Ariba Sourcing along with mode based subject matter experts will enable ChemLogix to execute an RFQ and generate savings in half the time it takes to complete the conventional bid process.  After bidding is completed, multiple attribute optimization capabilities enable ChemLogix to recommend the best carrier mix and savings alternatives based on client service levels, capacity commitments and rates.    “This unique combination of capabilities and resources not only provides clients with an additional 1 – 2% savings outside of traditional bid performances, but also generates significant ROI in a condensed time, “states Hildebrandt. “ChemLogix has a long history of leveraging technology-based solutions and processes to deliver world-class services to chemical shippers across the globe,” said Jim Luna, Senior Manager, Business Development, Ariba. “By integrating Ariba’s on-demand sourcing solution with its offerings, ChemLogix can enhance and accelerate the results that its clients achieve.” For more information on ChemLogix Freight Procurement Services, go to http://www.chemlogix.com/solutions/freight-procurement, or contact Ken Vrtis at kvrtis@chemlogix.com or 630-579-8200 for an exploratory discussion and demonstration.