Rate Management System & Automated Freight Settlement
TransWorks provides an automated rating engine-Rate Management System (RMS) for our customers. RMS can also be leveraged to make cost-based tendering decisions and enableAutomated Freight Settlement/Auto-Payment. TransWorks can either host our customers’ rates as a stand-alone module &/or mirror rates by providing various interfaces to & from our customers’ enterprise system(s). Once Tendered, Rated and Accepted/Assigned, a shipment specific accrual can be sent back to the enterprise.
RMS also provides the ability for customers to allow their carriers’ visibility of the total freight charges for each shipment, broken out by base, fuel and multiple accessorials. As shipments move through the lifecycle and changes are made, RMS can trigger a re-rating process to ensure that customer freight accruals and carrier expectations for payment are reflective of the most up-to date information. Changes such as carrier assignment, weight, quantity, mileage, destination, stops, accessorials can all trigger a re-rate. Customers can also request a re-rate at any time during the shipment lifecycle by sending a re-rate update.
Rate Management (RMS) can be a stand-alone rating engine &/or mirror your rate database(s)
RMS can store rates using various parameters:
• Mode, carrier, equipment, commodity effective/expiration date, customer, city, state, zip, zones, service level, rate authority, route, hazmat, etc.
Multiple formats/units of measure are supported, including:
• Flat, mileage, minimum, per ton, per hundred weights, per quantity (i.e. bushel, bundle) etc.
• Banded Rates mileage and weight based bands
Multiple currencies are supported
• Interface option available to synchronize with corporate accounting
Fuel Surcharge can be stored at various levels in the RMS
• Fuel surcharge indices can be specified by carrier, equipment, location &/or country
Accessorials can be stored at various levels in the RMS are applied to each shipment to determine actual cost.
• Accessorials include, but are not limited to: Stop, Tarp, Fuel, Lumper, etc.
Spot /Expedited rates
• New Lanes &/or One-off shipments can be spot rated & tendered to one or many carriers in order to keep shipments moving
Rate Management (RMS) can be used to manage dynamic Rates and Bid processes by providing rate templates to import and export new rates, changes; entire bids, single entries &/or mass updates or expirations.
Freight Settlement / Auto-Payment Options Automated freight payment is enabled by leveraging Rate and Exception Management- minimizing human interaction and error.
The TMS stores all key data required for Auto-payment:
• Auto-Rated shipments
• Base freight, fuel and other accessorials
• Proof of Delivery (from the Exception Management module)
… TMS passes back the ‘rated shipment’ and ePOD to trigger Auto-Pay, eliminating matching errors, duplicate invoices and invoice audit