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The freight audit and payment industry is a fragmented space divided along a few key dimensions, ones that are explored in The Journal of Commerce’s inaugural Freight Benchmark Study: Driving Strategic Value Through Outsourcing..

This study, based on a survey of shippers in summer 2020, allows freight buyers to measure themselves against their peers through a number of key metrics:

• The degree to which shippers outsource some or all of their auditing and payment functions
• The cost to process an invoice for shippers that outsource or handle payment and audit internally
• The extent to which the market is aware of the differences between bank-backed and non-bank-backed vendors
• How shippers use invoice and payment data for analytics purposes

The Freight Benchmark Study provides shippers with actionable insight into how to structure this core part of the freight transportation industry.