Trax is a leading technology company offering spend management solutions that empowers organizations with globally complex supply chains to gain control and visibility into their transportation spend. The client works with global retailers, manufacturers and life sciences companies that deal with multiple trading partners and process huge volumes of invoices every day. The client through Freight Audit Payment (FAP) services ensures every single shipping invoice is received, audited, and processed on-time every time with utmost efficiency. The transaction entails massive data that needs a fool-proof electronic data exchange system to work between the company and its partners.
Companies dealing with complex transportation supply chains receive multiple logistics invoices that needs to be received, audited, payment processed for every carrier involved in delivering – small or big. With increased carriers in the ecosystem, managing the entire invoice processing process increases issues of handling multiple file formats as it is a cumbersome and time-consuming task, leading to loss of productivity, errors, and a significantly costly operation.
Driving logistics spend efficiency at a global scale is impossible when you have no visibility on the transactions within your transportation network. Companies need to receive all the invoices coming to them and carriers need visibility of their invoices and receive timely payments for the deliveries.>
Trax needed to solve the problem for its customers by establishing a data exchange system that allows customers to collaborate with multiple trading partners and enable secure data exchange between the companies to process the invoicing data.
Collaboration with partner companies becomes easier and quicker because of better invoicing and payments processes.
Automation of process leads to increased trust and transparency in the system and enables you to fix issues in multi-partner environment, thereby improving business efficiency.
By mastering freight audit and efficient spend management, opens up new business opportunities and onboard new partners with ease.
Customers can make better, faster business decisions by basing them on a complete view of all data regardless of format, type, or where it resides.
Efficient auditing of invoices and cost center allocation of the invoices enables in increasing profitability.
Kanerika worked with Trax to implement a Data Exchange system for its partner integration using Informatica B2B platform, with an aim to provide secure and standardized electronic data exchange of invoices coming in multiple formats. Kanerika automated the process of reading invoices across a wide variety of formats (MS Word, MS Excel, PDF, EDI, physical document) and channels such as e-mail, FTP with the help of Informatica B2B platform.
Informatica B2B Data Exchange platform was chosen for the following features it offers for the business users
- Informatica B2B Data Exchange supports any-to-any data format transformations involving structured, semi-structured, and unstructured data—all while complying with the leading industry standards that govern those formats.
- Flexible, easily customized dashboards, combined with out-of-the-box operational key performance indicator (KPI) charts, provide a consolidated view of the partner data exchange.
- Data coming from these systems was disparate and there were no connectors for consolidation and to visualize it further. They needed to create an integration layer to bridge the data.
- With visibility of the data throughout the exchange, the executive management can successfully gather insights on any discrepancies and take appropriate decisions
Security team can easily identify any data security breach through the new data architecture. And this allowed them to take action momentarily.
The executive gets detailed information on their products and delivery processes. It also shows what kind of data is present in the systems.
Security team can easily identify where the sensitive data is flowing and take corrective measure on them.
Kanerika is a niche consulting firm building efficient enterprises with deployment of automated, integrated and analytics solutions. Kanerika enables efficient enterprises through its unique digital consulting frameworks and AIOps enabled compostable solution architecture. We partner with some of the top vendors to solve some of the critical data and process related challenges. We help some of the top brands across the globe in increasing their speed to respond in evolving market conditions, reducing their cost of operations, empowering them with the right tools and insights for effective decision making.