Two Companies Team Up to Address the Challenges of Incorrect Invoices

Logistics Tech Outlook | Wednesday, October 27, 2021

The partnership allows logistics companies to automatically classify and record data from documents, resulting in actionable data streams that can be used wherever they are needed.

FREMONT, CA:“It feels strange that invoice accuracy still is a problem in the ocean freight industry; over the last decade, companies have been investing in digital transformations but are still not getting it right when invoicing their customers. It is nothing new that the industry struggles with this, but most freight invoice audit solutions focusing on over-the-road and parcel freight, leaving a blank spot in the ocean freight industry. A closer look at the root cause of this issue revealed that most of these businesses struggle with their invoice audits due to paperwork overload or being out of whack with their processes altogether,” observed Daniel Martin-Loike, Co-Founder of MARTIN & SORBO. To address this problem, MARTIN & SORBO, a logistics technology business, has created a solution. Further, MARTIN & SORBO has teamed up with announced a solution partnership with Parashift, a developer of modern, machine learning-powered Intelligent Document Processing (IDP) software for solution partnership. The partnership allows logistics companies to automatically classify and record data from documents, resulting in actionable data streams that can be used wherever they are needed.

Starting with the processing and reconciliation of ocean freight invoices, Parashift and MARTIN & SORBO are collaborating to optimize administrative business operations in logistics. “The solution can be operated manually via e-mail/file transfer or seamlessly integrated through APIs with users’ current invoice scanning workflows, financial systems, and contract management platforms. It is important to create solutions that allow capturing low-hanging fruits with minimal up-front investment,” added Thomas Sorbo, Co-Founder and CEO, MARTIN & SORBO.

“The logistics industry has produced a large number of innovations in recent years. But in terms of administrative processes, companies are still relatively undeveloped. The potential to achieve great benefits with minimal investment is correspondingly high. We are therefore very pleased to bring the logistics industry into a new era together with Martin &Sorbo, also in administrative processes,” said Alain Veuve, CEO, Parashift.

 

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