Managing freight costs has always been a challenge for finance teams. Complex shipping agreements, inconsistent surcharges, and the need for accurate cost allocation make it difficult to maintain control over operational spend. OpenEnvoy’s Landed Cost Management (LCM) feature simplifies the process, empowering businesses to track, classify, and synchronize freight expenses with Oracle systems for greater efficiency and accuracy.
What problem does this feature solve?
For businesses using Oracle’s Landed Cost Management module, categorizing and reconciling freight and surcharge lines can be a time-consuming and error-prone task. Without precise cost factor labeling, discrepancies in landed cost calculations arise, leading to inefficiencies and potential financial mismanagement.
OpenEnvoy’s LCM feature
OpenEnvoy’s Landed Cost Management feature is purpose-built to streamline freight categorization and cost tracking:
- Automatically classifies freight and surcharge lines with predefined cost factor names, reducing manual work and errors.
- Synchronizes categorized cost factors back to Oracle, ensuring accurate landed cost calculations and seamless data integration.
Benefits
- Eliminates manual classification efforts
- Reduces data entry errors
- Accelerates invoice processing
- Improves landed cost accuracy
- Maintains compliance with Oracle LCM requirements
Why this matters for your business
Freight costs are often a hidden drain on company resources. By leveraging OpenEnvoy’s LCM feature, businesses can take control of these expenses, ensuring every dollar is accounted for and operational spend is optimized.
Take the next step
Ready to gain control over your freight costs? OpenEnvoy’s Landed Cost Management feature is designed to help businesses like yours achieve better financial outcomes with less effort.
👉 Contact us today to learn more about this feature or schedule a personalized demo.
