The VeriShip Intelligence Platform (VIP) – cloud-based software that provides companies that rely on parcel carriers such as UPS and FedEx cost-saving analytics derived from their shipping data – enjoyed record-breaking, year-over-year gains in time on site (a 377% increase) and total users (an increase of 271%) during the first four months of 2018.
- The Surcharge Insights KPI provides visibility into the costs parcel carriers apply to packages after they have been manifested, shipped or reach their destination, providing a true indicator of parcel costs. Up to 25% of total shipping expenses are made up of retroactive surcharges and accessorial fees.
- The Dimensional Weight Analysis (DIM) KPI illustrates the impact dimensional weight (or “DIM”) pricing has on shipping costs as carriers revise and expand the application of dimensional weight divisors.
- The Impact Analysis dashboard, powered by a first-of-its-kind simulation engine, enables shippers to understand the real effective impact of each round of UPS and FedEx rate increases. (Learn what your effective UPS or FedEx rate increases are with a free impact analysis).
- Other features within the VIP include: Five additional KPIs – shipping charges, package volume, cost per package, cost per pound and average zone; GL Coding; package-level alerts; carrier invoice summaries; and base and premium reporting.
Notably, VeriShip’s examination of shipping profiles from more than 3,000 businesses – accounting for $1.9 billion and 120 million packages shipped domestically in 2017 – shows that more than two-thirds of UPS and FedEx customers were projected to exceed the 4.9% rate increase for 2018 each carrier announced.
The average effective increase is 6.2% across all companies studied, further enhancing the value VIP offers customers by adding transparency through shipping trends over time, identifying new savings opportunities, and emphasizing areas for optimization.
To learn more about the VIP, contact us.