You should not be paying as much as you are when you ship your products to your customers. One industry insider estimated that last year a reported $2.2 billion was left on the table by companies failing to claim available discounts and refunds on billing errors and overcharges. It was also estimated that over $6 billion was overpaid on shipping rates. Edison's solution to this problem has three components. The UPS, FedEx & DHL Weekly Recovery Audit, the UPS, FedEx & DHL Rate Review & Negotiation and the Freight (Air, Truck, Ocean, Train) Post Audit.

Using one or all of these three components will:

• Reduce the amount you have to budget for seasonal and annual shipping costs. Freeing this money up for use elsewhere in your organization.
• Increase the profit margin you make on your products.
• Enable your company to compete even better on price.
• Ease the strain on your cash flow and make it easier for you to operate and invest.

Your shipping needs are different from all the other companies out there. Because of this, we saw the need for a multifaceted solution that offers you the help you need as well as our other customers help with their needs.
Edison introduces the Freight Audit and Review. This solution is part of a team of 6 performance-based cost audits that are available to you. Each of these audits helps to recover profit you have lost in the past due to overcharges and to increase the profit you earn going forward by reducing the amount you are charged.
This particular Audit and Review will:

• Reveal overcharges, duplicate charges and any other billing errors on your freight or small parcel shipping invoices and recover them to you.
• Review your rate, propose rate decreases in areas where you pay more than the market price and negotiate a better rate with your shipping provider.
• Educate you on how freight billing works and empower your people to manage freight bill discrepancies and rates going forward.

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How much of my time will this process take ?

Following is a table of the steps involved in the process, the amount of time you can expect to apply to the process and the duration of the process from start to finish.

UPS, FedEx & DHL Weekly Recovery Audit


UPS, FedEx & DHL Rate Review & Negotiation

Freight (Air, Truck, Ocean, Train) Post Audit

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What is an outline of the process from start to finish?

UPS, FedEx & DHL Weekly Recovery Audit
For customers paying over $40,000/month or $500,000/year to UPS, FedEx or DHL

Step 1.	Data Collection: A copy of one invoice for each account you have with your small parcel shipper(s) needs to be acquired by you to have present for the Initial Client Meeting as well as the total yearly spend for that small parcel shipper.
Step 2.	Initial Client Meeting: Either in person or via web/teleconference, one of Edison's Cost Managers will meet with you to go over the details of: the Freight Audit and Review and any of the other audits we provide that interest you, the Process by which we are able to decrease your shipping costs, and the Service Agreement and Authorization themselves. During this time, you will be able to ask as many questions as you would like, verify assumptions and expectations and get to know your Personal Cost Manager.
Step 3.	Off Site Audit: With the Service Agreement, your UPS, FedEx & DHL account #s and a signed authorization letter, the review process begins. With the Authorization Letter, your Freight Provider will send an electronic feed of your weekly open invoices to our analyst's computer by email. The analyst's computer automatically recognizes the feed, downloads the information and begins to sort it. It looks for and takes note of any overcharges and guaranteed service discounts that should be removed from your freight bill. It uploads the information to your online dashboard for your use. The analyst takes the reports that the computer generates and further analyzes them, organizing the refund amounts in order to make updates to your bill and compile the necessary reports for your use.
Step 4.	Findings and Recommendation Report: As soon as the first weeks audit is complete, your personal Cost Manager will meet with you to explain the findings, the reports that the computer generates for you and to answer any follow-up questions. Going forward, each week you will receive a report of the amount of refunds your company will receive, the total shipping amount, the shipping amount by shipping type, and a line item list of each shipment made. You will begin to receive credits for the refunds found and your net profit will increase.

This process to this point takes approximately 3 business days. Time can vary.

Freight (Truck, Ocean, Train, Air) Post Audit
For customers shipping by truck, ship, train and/or plane with costs over $40,000/month

Step 1.	Data Collection: Previous to beginning the Freight Post Audit, a front & back copy of each of your freight invoices for the last 6 months, including all attachments (Bill of Lading, etc.) and a copy of your pricing agreement with your Shipper need to be compiled. If you have multiple shipping companies that your firm uses, compile the previously mentioned documents for each one.
Step 2.	Initial Client Meeting: Either in person or via web/teleconference, one of Edison's Cost Managers will meet with you to go over the details of: the Freight Pos Audit and any of the other audits we provide, the Process by which we are able to decrease your shipping costs, and the Service Agreement and Authorization themselves. During this time, you will be able to ask as many questions as you would like, verify assumptions and expectations and get to know your Personal Cost Manager.
Step 3.	Off Site Audit: With the Service Agreement, a copy of your last 6 months freight invoices and documents and a signed authorization letter, the review process begins. One of our Freight analysts will use the detailed Freight knowledge Edison possesses to review every bill looking for discrepancies and errors that have occurred. The analyst will then compile a report of the findings for your review.
Step 4.	Findings and Recommendation Report: As soon as the complete analysis is done, an Edison team member will contact you with one of two scenarios. Clean Study: You will be notified that the study and review turned out clean of any errors or discrepancies and that your rates are optimal for your specific operation. If there is anything to keep your eye on, the team member will let you know at this time. or They will set up an appointment for a 15-30 minute web/teleconference to go over the findings of the study and recommendations for your implementation. The team member will explain the amount of savings you will receive and will give you any forms or documents needed for approval to implement the savings that same day.

This process to this point takes approximately 20 business days. Time can vary.

UPS, FedEx & DHL Rate Review & Rate Negotiation
For customers paying over $40,000/month or $500,000/year to UPS, FedEx or DHL

Step 1.	Data Collection: A copy of your current UPS, FedEx or DHL pricing agreements for each account need to be acquired by you to have present for the Initial Client Meeting.
Step 2.	Initial Client Meeting: Either in person or via web/teleconference, one of Edison's Cost Managers will meet with you to go over the details of: the Small Parcel Rate Review & Rate Negotiation and any of the other audits we provide, the Process by which we are able to decrease your shipping costs, and the Service Agreement and Authorization themselves. During this time, you will be able to ask as many questions as you would like, verify assumptions and expectations and get to know your Personal Cost Manager.
Step 3.	Off Site Audit: Edison's Senior Pricing Manager will conduct an analysis of your current pricing. With over 2,000 pricing contracts negotiated, our team of analysts will compare your pricing to the pricing of other contracts of similar size and type that your competitors and other companies have received. We will see where your pricing is higher than other companies like yours are paying and identify opportunities for you.
Step 4.	Findings and Recommendation Report: Your personal Cost Manager or Edison's Pricing Manager will meet with you to present the findings of the market pricing analysis that was conducted. You will receive an estimate of annual savings (the average reduction of annual shipping spend is 10%-15%). At this point you will see the net cash benefits of a professional study to your firm and be able to give your approval to continue.
Step 5.	Initiation of Price Restructuring: A face-to-face meeting will be set up between yourself, your UPS, FedEx or DHL account rep and our Senior Pricing Manager to begin the negotiation process. At this time, the new price proposal and supporting information will be presented to your small parcel account rep. We will follow through with the negotiation process through the point where your new pricing structure is secured in writing by your small parcel account rep.
Step 6.	Fulfillment of Price Restructuring: Your shipping business continues forward as before, only UPS, FedEx or DHL charges you less for the shipments that you make. Your net profit increases.

This process to this point takes approximately 20 business days. Time can vary. I'D LIKE TO BEGIN
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As with all 6 of the audits that Edison provides, the fee for your Freight Audit and Rate Review is performance based. We do all the work and if we are successful in recovering savings, we ask you to split the amount recovered, with us. If the review and audit turns out clean, there is no fee whatsoever. This method of billing has a number of benefits for you.

• This ensures to you as the customer, that our fees will never outweigh the cash benefits and net profit increase that your company receives. As an additional assurance, the fee is only due after your refund or savings are safely in your pocket.
• This gives us incentive to perform on your behalf. It ties our compensation directly with our ability to be successful for you. We make sure we find all possible opportunities your company can implement.
• We risk our people's time upfront, because we are confident in the knowledge our team possesses and our ability to implement this knowledge for the benefit of your bottom-line.

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