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February 17 2020

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Page 26 of 47

Februar y 17 2020 | The Journal of Commerce 27 Cover Story Special Report Freight Payment shippers to turn the story on its head, though, using a process gener- ally referred to as "self-invoicing" or "self-pay." When self-invoicing, the ship- per generates an invoice of what it believes it owes to a carrier or third-party logistics provider (3PL), which forces the carrier or 3PL to determine if that amount is accurate or not. That shifting of auditing responsibility is core to the concept of self-invoicing, but it's AT ITS CORE, freight payment is about which party in a transaction bears the responsibility of ensuring the accuracy of the invoice associ- ated with a given shipment. Traditionally, shippers bear the brunt of that burden, receiving freight bills and ensuring those bills accurately reflect what was agreed upon in their contract, plus any fees or rate variances that arose during the course of the move. There has long been a way for Technology helping shippers take freight payment, audit into their own hands By Eric Johnson Introspective invoicing

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