Blog: How do we reduce costs for financial managers?

A press release promoting the Gartner Supply Chain Planning Summit (4-5 November 2019 in Denver, USA) recently caught my eye. It quotes a senior Gartner analyst as saying that, when trying to reduce costs, “…companies usually aim to negotiate better prices with their carriers and logistics providers regions. Those negotiations can be difficult, and success is not guaranteed. What is often overlooked is that there are plenty of actions logistics leaders can take to optimize costs from within their organization”. 

As I see it, this message is very closely aligned with how we at IDS help our customers to make continuous improvements across all aspects of the supply chain, e.g. in transport planning, IT, supply chain management, customer service, and even when issuing tenders. But in my experience, in this respect, finance is often seen as one of the less urgent priorities. This is particularly ironic, because streamlining the transport-related work processes to improve your administrative efficiency is a source of ‘low-hanging fruit’. In other words, you can make relatively big gains with relatively little effort. 

Avoid unnecessary errors 

So how exactly do we help financial managers to save logistics-related costs? It all starts with our IDS Connectivity Centre (ICC), which gathers data on your freight movements as the basis for reporting and further analysis. Needless to say, in terms of your direct costs, our state-of-the-art transport management system (TMS) ensures the maximum consolidation of goods flows and hence the best prices. But perhaps more interestingly, we use those insights to help you improve your administrative efficiency and avoid unnecessary errors. Invoicing and invoice checking, payment management, dispute handling… these are just some examples of repetitive, time-consuming transport finance-related tasks we can streamline for you 

Thanks to our pay-per-use model based on a pre-agreed fixed fee per transaction, you have full transparency and control. And if you want to save maximum time, we can even take these tasks off your hands completely with our managed transportation services (MTS). 

Guaranteed compliance 

As an extra benefit, use of our TMS ensures that you always comply with the latest accounting regulations without having to invest in the purchase and maintenance of your own IT system. So this is a great way for financial managers to reduce their IT costs, in addition to their direct logistics costs and indirect administrative costs. 

Feel free to contact me if you’re interested in uncovering new ways of driving costs down in your Finance department while improving your efficiency and raising your customer service levels too.