In a strategic move to enhance freight billing efficiency, Kleinschmidt Inc. has announced an investment in Upwell, a platform specializing in freight accounts receivable. This partnership aims to expedite payment processes for trucking carriers by automating invoice auditing and billing workflows.
AI-Powered Invoice Auditing
At the core of this collaboration is Upwell's AI-driven audited billing platform. This system meticulously reviews freight invoices against specific billing requirements set by shippers before submission for payment. The audit engine checks for:
- Proof-of-delivery documentation
- Reference numbers
- Lumper receipts
- Accessorial charges
- Shipment weights
- Contract rates
- Fuel surcharge calculations
Invoices meeting all criteria are automatically submitted, while exceptions are flagged for human review.
"The biggest delays in freight payments aren't just about timing; they're about trust and accuracy," said Charley Dehoney, CEO and co-founder of Upwell.
Integration with Kleinschmidt's Network
The integration allows carriers to route EDI 210 freight invoices directly to Upwell for validation and processing, eliminating the need for additional software changes. Dan Heinen, president and CEO of Kleinschmidt, emphasized the goal of removing friction from data and payment flows across the supply chain.
Carrier Success Stories
Carriers like Morehouse Trucking and Giltner Logistics have reported significant improvements. Morehouse Trucking noted automation of manual billing processes and faster payment speeds from major customers. Giltner Logistics experienced lower days sales outstanding and enhanced visibility into accounts receivable.
| Carrier | Improvement | Outcome |
|---|---|---|
| Morehouse Trucking | Automated billing processes | Faster payment speed |
| Giltner Logistics | Lower days sales outstanding | Improved accounts receivable visibility |
Focus on Cash Flow
This announcement highlights a growing trend in transportation technology: leveraging AI and automation to optimize back-office functions traditionally handled manually. As the freight industry faces economic challenges, improving cash flow through efficient billing processes becomes increasingly critical.
