U.S. Bank Transportation Solutions provides businesses and government organizations with a more efficient means to pay and be paid through U.S. Bank Freight Payment and optional trade finance. Organizations can replace inefficient, paper-based processes with an integrated, fully electronic financial supply chain.

Our freight payment network has more than 10,000 active carrier customers and supports billions of dollars in global payments each year.

Shippers and Carriers rely on U.S. Bank Freight Payment to reduce costs by:

• Eliminating the handling of paper invoices and checks with electronic invoices
• Auditing each invoice to eliminate payment errors – no more double payments
• Avoiding late fees and balance due invoices
• Improving security to eliminate fraud opportunities
• Ensuring regulatory compliance
• Offering the possibility to have Trade Finance
• Providing a technology offering to address every facet of the payment process

Electronic Invoices
We automate B2B invoicing and payment to allow shippers and carriers to work together in real time.

You can resolve exceptions - improving workflow, reducing wait time and building stronger relationships. Fundamentally change your account payable and receivable processes, eliminating non value-added activities and communication delays with U.S Bank Freight Payment.

Standardized invoice presentment, management and payment will bring you:

• Dramatic reduction of input errors and required effort
• Data available to both shippers and carriers in real time, all the time
• Complete visibility to accelerate processing and exception resolution
• Elimination of duplicate invoices, phantom shipments, double-paying and incorrect rates
• Liberation from manually intensive, error prone tasks that increase costs and cycle time, while reducing quality

Audit
Unlike any other provider, every invoice created using U.S. Bank Freight Payment is audited. From tariffs to mileage, from contracted rates to delivery dates, Freight Payment helps shippers ensure that each invoice is correct before payment, and helps carriers ensure payment is made in a timely manner, as issues are less frequent.

Industry-leading auditing functions including:

• More than 40 available automated audits
• Fully customizable options to meet each shipper’s unique needs
• 100% of all invoices audited before payment
• invoice amounts reviewed based on contracts and correct distance calculations

With flexible business rules and 100% pre-payment audits, users can customize the tool to meet diverse needs, yet still maintain visibility and control across the entire organization.

Technology
U.S. Bank Freight Payment leverages the Syncada^® from Visa network, a proven invoicing and freight payment platform. Offering complete transparency for both shippers and carriers, the system dramatically simplifies and accelerates workflow and exception resolution.

The Freight Payment platform also provides a full complement of reporting tools that can help you draw valuable insights from raw data to further improve efficiency and cost management.

Available analytics can help assess supplier performance, improve terms and identify variances and unnecessary expenditures. This is a truly comprehensive, end-to-end solution that addresses every facet of freight payment:

• Electronic Processing
• Exception Resolution
• Electronic Settlement
• Analytics
• Supply Chain Efficiency

Trade Finance
Parties on either side can sometimes find themselves working at cross-purposes when it comes to payment.

Shippers want to hang on to payment as long as possible.
Carriers want payment now.

Freight Payment provides a low-cost means to satisfy both parties, providing shippers with an opportunity to extend payment terms and carriers with an opportunity to accelerate access to funds. The result is mutually beneficial and builds stronger financial supply chains. At a glance:

• Carriers can opt for financing on a selective or universal basis
• Medium and small carriers have an option in the tight credit market
• Cash flow for carriers is improved, helping to stabilize supply chain and solidify relationships
• Shippers pay U.S. Bank monthly
• Carriers are paid almost immediately

Shippers seeking to strengthen their supply chains, reduce costs and increase efficiency rely U.S. Bank Freight Payment. The benefits of working with us are many, but the results are always the same: more effective use of time and resources, lower costs and better relationships. Shippers gain:

• Efficiency through electronic invoicing and the elimination of error-prone manual entry
• Complete visibility enhance control of payment process
• Robust auditing functions eliminate erroneous invoicing
• Single electronic process for all payments
• Lower carrier rates as early payment discounts are applied
• Elimination of need for internal resources to respond to payment inquiries
• Pay U.S. Bank once a month on a consolidated invoice

Carriers
Freight Payment provides an opportunity for carriers to eliminate or substantially reduce many of the factors that can impede issuance of payment, cash flow and the overall stability of their businesses. With Freight Payment, every invoice is visible to both shipper and carrier, making it easy to resolve exceptions, track receivables and ensure accurate, timely payment. Carriers gain:

• Availability of electronic invoices simplifies tracking of receivables
• Fast exception-resolution as shippers and carriers work together online
• Reduced risk of non-payment as invoices are verified through audit process
• Timely, accurate electronic payment of invoices, decreased days sales outstanding to less than five days on average
• Improved cash flow as shippers take advantage of early payment discounts in the Supply Chain Financing
• Complete support for invoice inquiries

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