Citi® Integrated Freight Processing
Citi® Integrated Freight Processing is an easy-to-use Web-based system that simplifies the audit, approval and payment of freight related expenses by automating the entire supply chain process. Everything takes place online - from pre-payment audits to review and negotiation with shippers to expense allocation and more.
What Citi Integrated Freight Processing Does
Citi Integrated Freight Processing simplifies the financial supply chain and provides significant working capital benefits for both shippers and carriers.
By leveraging our global supply chain network, Citi Integrated Freight Processing helps you consolidate five manual processes into a single automated stream that include:
- Invoice data capture
- Electronic workflow and approval processes
- Automated audit and expense allocation processes
- Efficient collaborative online bill payment in all major currencies
- Comprehensive reconciliation down to the transaction level
Citi Integrated Freight Processing provides the most complete logistics and financial data in real time, allowing for significant improvements, even in the most decentralized environments.
- Automated pre-payment audits ensure that invoices meet all payment criteria saving hours of manual work and ensuring that all required data is captured
- Invoices are received and stored electronically, eliminating the need to manually enter data and enhancing the reporting and research processes
- Standardized electronic file and data formats enable seamless posting of information to your existing accounting systems with no need for manual intervention
- You receive one invoice from Citi each month after payments have been made for all freight expenses regardless of the carrier or mode of transportation
- By making a single monthly payment, you also save on per invoice costs such as postage and check stock while also reducing the other transaction and banking fees
- With a single monthly invoice and sophisticated reporting tools, you gain a deeper insight into your supply chain and more control over freight spend
- Account reconciliation is simplified with automated expense allocation down to the line item