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The company performs freight audits and freight payment services. [1] CT Logistics processes Sarbanes-Oxley-compliant freight payments in all modes for carriers and clients of all industries. The company utilizes 7 to 10 years of online data storage. CT Logistics consults on all aspects of supply chains. [2]
CEO J. Kenneth Hazen acquired the company in 1982. Since that time, the firm has evolved from a manual freight bill audit and payment operation into a producer of logistics-focused business intelligence services. [3] Founded over 60 years ago, the company is a global supply chain services provider with offices in Singapore, Ireland, and India.
“To begin the auditing process, a freight bill payment company receives its clients' freight bills directly from carriers. When the bills are received, either via electronic data interchange or manually, they are entered into the contractor's system, providing immediate visibility. Once the bills are entered, they are audited for accuracy.
Syncada was an American global financial supply chain network that offered business-to-business payments in the cloud under the software as a service (SaaS) model.. It was a joint venture between Visa and U.S. Bancorp, Syncada launched in July 2009. [1]
In accounting, the concept of a freight expense or freight spend account can be generalized as a payment for sending out a product to a customer. It falls under the umbrella category of expenses and is treated like other expense accounts in relation to the accounting equation, however, under generally accepted accounting rules, if the freight is Freight expense has a normal debit balance.
Two other problems are that unpaid consignors or freight carriers may wish to hold goods until payment is made, [2] and that fraudulent individuals may seek to take delivery in place of the legitimate consignees. The key to resolving such disputes lies in the documentation.
DAT Freight & Analytics, formerly known as Dial-a-Truck, is a US-based freight exchange service ("load board") and provider of transportation information serving North America. Freight exchange services are used to match material ("loads") that needs to be shipped with over-the-road carriers, which can be hired to move those loads.
Most freight forwarders and trucking companies use an in-house waybill called a house bill. These typically contain "conditions of contract of carriage" terms on the back of the form that cover limits to liability and other terms and conditions. [2]