fireTMS in Freight Forwarding: Shortening the invoicing cycle and improving cash flow
In the fast-paced TSL industry, operational speed directly impacts financial performance. The quicker a company issues invoices, the quicker money lands in its account. However, many freight forwarding companies still lose days, sometimes even weeks, waiting for documents from carriers. This was precisely the challenge faced by a medium-sized forwarding company that opted for enterprise-level solutions in the form of the fireTMS system and the Carrier Portal tool. The result? A transparent process, full document automation and a significantly shorter invoicing cycle.
The challenge
Previously, transport documents (CMR) and carrier invoices were sent through various channels, most often via email. This resulted in:
- lack of centralised documentation
- delays in collecting required attachments
- and overload for the operations and accounting teams
The solution: fireTMS Carrier Portal
The solution is based on a simple principle:
Each transport order in the system has a unique link for uploading documentation, which is automatically generated and ready to be shared with the carrier- The carrier can upload the following documents via an intuitive form a CMR scan
- The carrier can upload the following documents via an intuitive form an invoice with completed data (e.g. order number and amounts)
- All documents are automatically assigned to the relevant order and immediately visible to the appropriate departments
Business impact of the implementation
Shortly after implementation, the company observed clear operational and financial benefits:
Shortened invoicing time
The automated document workflow meant that the company could issue invoices on the same day that transport was completed, without having to wait for emails or manually assign documents.
Improved cash flow
A shorter invoicing cycle means customers pay earlier, which improves cash flow and enables more effective working capital management.
Reduced workload for operations and accounting teams
These teams no longer need to chase carriers for documents or assign files manually. The automated process reduces errors and saves valuable working hours.
Improved collaboration with carriers
The intuitive, login-free portal has made document submission significantly easier for carriers. As a result, communication and relationships with transport partners have noticeably improved.
