RAKC Group faced challenges with manual and paper-based payment reconciliation processes, leading to inefficiencies and inaccuracies. Partnering with Freight IQ Hub, they implemented a digital solution that streamlined operations, reduced manual effort, and improved cost control.
The Challenge
RAKC Group was struggling with a complex and manual payment reconciliation process. The remuneration for completed days changed frequently based on item approvals, making tracking and reconciling payments a time-consuming task. Additionally, documenting extra charges was done on paper, which was inefficient and labor-intensive, requiring significant manual effort to ensure accuracy.
Our Solution
Freight IQ Hub provided a digital platform that allowed RAKC Group to document changes directly via phone, eliminating the need for paper-based processes. This solution enabled real-time adjustments and reconciliations throughout the week, offering clear visibility over all changes and ensuring accurate tracking of payments. The platform also captured previously missed charges, addressing the inefficiencies of the manual system.
Results
The implementation of Freight IQ Hub's solution reduced the reconciliation process from four hours per week to zero paperwork, significantly decreasing manual effort. The platform identified approximately $400–$500 per month in changed or unapproved payments, enhancing accuracy and cost control. This transformation led to improved operational efficiency and financial oversight.
Key Metrics
- Reconciliation Time Reduction: 4 hours per week
- Monthly Identified Payments: 400-500 AUD
"The impact on RAKC Group has been significant. As we have progressed through our journey with Freight IQ Hub, we have identified additional operational levers that require clearer and more accessible visibility. These include fuel consumption, staff hours, and depot departure and arrival times. Having this information readily available supports the business in making more effective decisions in a timely manner." — Jacob Marsters, Director