Logistics technology creator Imaginnovate has developed back-office automation for final-mile delivery carriers. The software company said its Dynamic Rating Engine wll digitize everything from rate agreements to invoicing and driver payments. This technology will become part of Fleet Enable, its office automation platform for final-mile trucking firms.
“We believe Fleet Enable is the first solution to bring standardization and automation to all final-mile carriers from order to cash,” said Imaginnovate CEO Krishna Vattipalli in a news release. “With our new Dynamic Rating Engine, Fleet Enable has solved the often hardest, most complex function within the final-mile delivery lifecycle, allowing for automated invoicing and faster accounts receivable and driver payout.”
The Dynamic Rating Engine will accelerate invoice processing and payments and improve back-office efficiency for carriers, according to the company. Tthe software will automate complex rate agreements that until now had to be billed manually.
As final-mile carriers struggle to keep up with record business volume and scarce driver availability, Imaginnovate said, efficient invoicing and faster pay settlement should please shipping customers and delivery drivers. It could also speed up cash flow to final-mile carriers.
The Dynamic Rating Engine can replace multiple software systems employed by most final-mile carriers, according to the company. Among other things, Imaginnovate said Fleet Enable would allow carriers to:
- automate complex non-standard rating agreements that were previously billed manually, a time-consuming and error-prone process;
- automate billing and invoice approval processes and send statements immediately to shippers; and
- pay drivers faster.
“Currently the lack of automation for billing and invoicing is straining back-office staff and delaying accounts receivable,” explained Imaginnovate Vice President of Sales John Coussa. “In the last mile the margins are thin, and we wanted to provide an integrated system that will let the carriers improve their efficiency and increase their cash flow.”
Imaginnovate introduced its Fleet Enable software platform for final-mile carriers earlier this year. The technology automates all aspects of the delivery process, from route optimization to shipment tracing. Back-office software is seen as the final piece in automating all aspects of the business.
The Dynamic Rating Engine is designed specifically for final-mile operators, the company said.
“It gives carriers of any size the ability to work with large shippers and meet their requirements,” explained Vattipalli.