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