Introduction
Many 3PL WMS operations, including warehouse tasks like picking, receiving, sorting, packing, putting away, handling returns, inventory management, shipping, and so on, are readily automated.
While the preceding processes are vital, WMS billing automation is essential for improving 3PL profitability since it directly captures services rendered, drive revenue and protects against unnecessary revenue loss caused by misbilling.
Many 3PLs are still reliant on clumsy data input and paper billing that might be lost or computed erroneously, which has resulted in misbilling. Implementing WMS billing automation will greatly improve 3PL billing procedures and may have a big impact on both client and business profitability.
How can WMS billing automation help you?
- Define different contracts and rates for each inventory customer that you have
Let’s face it, every customer is special, every contract is different. As much as we want to standardize and streamline our billing methods, we need to constantly innovate to stay competitive to win the deal, retain the customer and win the competition.
A highly configurable WMS billing system will give you the flexibility and empower the salespeople with the liberty to offer innovative deals, while capturing and defining different contracts and rates for each inventory customer that you have.
Often, a robust WMS billing system is a key differentiating factor between a 3PL and the competition. Investing in WMS billing automation will help you build a new competitive advantage to win the competition.
- Each individual contract for the customer can be setup with different billing periods
The customization of contracts doesn’t have to stop at rates. WMS billing can empower sales teams to customize and setup different billing periods, weekly, fortnightly, monthly, bi-monthly or even quarterly.
Giving clients options to choose billing periods and empowering 3PLs to improve cashflow, limit liabilities and manage risks.
- Automate the billing extraction based on the contract defined activities that were performed by operations or from storage charges
The 3PL WMS captures all movement, transaction and services rendered in the warehouse. These data are mined automatically to generate billing based on contract defined activities that were performed by operations or from storage charges. Every picking is captured and billed, every day the inventory sits on the shelves is billable.
A robust WMS billing system allows a 3PL to focus on serving the customer needs and ensuring accuracy of shipment, all while the WMS billing system automates the charges, generates and send invoices to the client.
- Integrate the invoice directly to your finance system for your accounts receivable
If data is the blood of the business, business integration are the arteries that keep the business going. Integrate your WMS billing system to your ERP for accounts receivable and einvoicing. Streamline the traditional paper base invoicing process and cut unnecessary paperwork which leaves room for human error.
Integrate your WMS billing system via API or EDI and keep the data pumping and keep your business growing.
Conclusion
While there a lot of focus on the operational automation of 3PL WMS functions including the deployment of mobile robots, WMS billing automation has proven to be key to enhance profitability for a 3PL.
Many 3PLs still rely on the imprecise traditional practise of data input and paper billing. This give room for mistakes to be, which may not be uncovered until it is too late.
Navigating WMS billing automation will significantly boost a 3PL’s WMS billing processes’ effectiveness and might have a significant effect on both customer and company profitability. It is never too late to implement Symphony WMS Billing System. Talk to our consultants today to find out how your company can enhance profits with Symphony WMS.
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