Freight Audit and Payment Market Size, Industry Analysis Report By Organization Size (Small and Medium Enterprises, Large Enterprises), By Operating System (Linux, Windows, UNIX, Mac) & Region – Forecasts
- PUBLISHED ON
- 16/08/2022
- NO OF PAGES
- 217
- CATEGORY
- Banking & Finance
Freight pay is a service that allows you to pay your transportation bills online.
To you, that might mean enlisting the help of your logistics or transportation manager to gather all of your numerous carrier invoices, and then delegating the chore of processing each payment through a direct clearing house or cutting individual checks to your accounting staff.
Freight payment is a set of procedures that can be compared to an accounts payable service for transportation invoices in general.
In order to receive, process, and pay invoices, freight payment services providers, such as a 3PL, function as an intermediary between the shipper and the carrier.
Freight audits are an important part of cost control in the supply chain.
Global Freight Audit and Payment Marker: Overview
The Global Freight Audit and Payment Market valued at US $14.52 Billion in 2022 is anticipated to reach a value of US $30.80 Billion in 2030, growing at a CAGR of 9.86%.
The Global Freight Audit and Payment Market is expected to be driven by an increase in the demand for effective management systems in the transportation and logistics industry.
Rate update processes, freight cost allocation, data and reporting collection, carrier communication, audit analysis, carrier usage analysis, transportation management systems, and other services are all provided by freight audit solutions.
Key trends of Global Freight Audit and Payment Market:
The transportation and logistics industries
The increasing demand for efficient management systems in these industries will primarily drive the global freight audit and payment market forward during the study period. The growing adoption of freight audit and payment solutions and their impeccable features, such as collecting invoices, transportation billing, processing each payment, etc., will fuel the growth of the global freight audit and payment market during the study period.
Booming International trade
The booming international trade is expected to benefit the freight audit and payment over the forecast period. Furthermore, growing cases of billing errors and high-volume invoice processing due to traditional methods are expected to amplify the growth of the freight audit and payment market during the forecast period. The increasing number of strategic partnerships aiming at extending the product portfolio will also escalate the freight audit and payment industry growth during the analysis period.
Segmental Analysis of Global Freight Audit and Payment Market:
Based on Organization Size
• Small and Medium Enterprises
• Large Enterprises
Based on Operating System
• Linux
• Windows
• UNIX
• Mac
Geographical Analysis of Global Freight Audit and Payment Market
The Global Freight Audit and Payment Market is further segmented into five major countries- North America, Europe, Asia-pacific, Latin America, Middle East and Africa.
North America dominates the worldwide freight audit solutions industry. During the forecast period, the freight audit solution market in Europe is expected to grow at a quick rate. The retail and e-commerce industries in rising countries such as India and China are expected to grow, resulting in increased demand for these solutions throughout Asia Pacific.
Competitive Landscape:
Cass Information Systems, CT Logistics, CTSI-Global, LTX Insight, Data2Logistics, enVision LLC, Lojistic, The Descartes Systems Group Inc., Xeneta, TranzAct Technologies, Inc., and Ascent Global Logistics.
Scope of the report:
Global Freight Audit and Payment Market: Historical Years- 20180-2021
Global Freight Audit and Payment Market: Forecast Years- 2022-2030
Global Freight Audit and Payment Market USD value in 2022- $14.52 Billion
Global Freight Audit and Payment Market USD value in 2030- $30.80 Billion
Global Freight Audit and Payment CAGR- 9.86%
Segments Covered- Organizational Size, Operating Systems and Region
Regions Covered-
• North America (US, Canada)
• Europe (UK, France, Spain, Italy, Russia, Germany)
• Asia-pacific (India, China, Japan, Australia, South Korea)
• Latin America (Brazil, Mexico)
• Middle East and Africa (UAE, Saudi Arabia, South Africa)
Key Players: Cass Information Systems, CT Logistics, CTSI-Global, LTX Insight, Data2Logistics, enVision LLC, Lojistic, The Descartes Systems Group Inc., Xeneta, TranzAct Technologies, Inc., and Ascent Global Logistics.
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
}})
Select a license type that suits your business needs
US $4750
Only Four Thousand Seven Hundred Fifty US dollar
- 1 User access
- 15% Additional Free Customization
- Free Unlimited post-sale support
- 100% Service Guarantee until achievement of ROI
US $5750
Only Five Thousand Seven Hundred Fifty US dollar
- 5 Users access
- 25% Additional Free Customization
- Access Report summaries for Free
- Guaranteed service
- Dedicated Account Manager
- Discount of 20% on next purchase
- Get personalized market brief from Lead Author
- Printing of Report permitted
- Discount of 20% on next purchase
- 100% Service Guarantee until achievement of ROI
US $7750
Only Seven Thousand Seven Hundred Fifty US dollar
- Unlimited User Access
- 30% Additional Free Customization
- Exclusive Previews to latest or upcoming reports
- Discount of 30% on next purchase
- 100% Service Guarantee until achievement of ROI