EOX Vantage is the industry leader in remote staffing through their Managed Services team and process automation solutions to the transportation and logistics industries. Our industry knowledge and proven solutions drive revenue, reduce expenses and improve overall customer experience for national accounts and household goods (HHG) customers. This case study takes a detailed look at the process of Shipment Accounting for a Moving & Storage Van Line. We can deliver similar solutions for national, regional and local moving and storage companies throughout North America.
Business Challenge:
A Moving & Storage Van Line had inconsistent production in the Shipment Accounting department.
In the competitive moving and storage industry, time is of the essence. The client was unable to invoice its corporate, household goods (HHG), and storage clients in a timely fashion, which resulted in a large backlog of unbilled clients. With peak season fast approaching, the billing backlog problem would soon be exacerbated by the skyrocketing number of unbilled invoices.
Business Impact:
EOX Vantage implemented a 4-part strategy to optimize their Shipment Accounting processes and deliver a sustained model of operational efficiency.
By breaking the 10-step invoicing process into two separate functions, process functions and subject matter functions, EOX Vantage was able to better align employee skills with business needs.
In addition to modifying the invoicing process, EOX Vantage's remote staffing team supplemented the client's processes. Once the remote staff was trained, the client eliminated the need to continuously hire and train new seasonal workers due to turnover.
The remote team worked on an overnight model so the workday truly became a 24-hour production cycle. Work that was not completed during traditional U.S. hours shifted to the off-shore team, which completed the work in the same 24-hour workday.
The client was able to eliminate overtime expenses and save daily operations costs for the U.S. staff because the offshore team picked up the work that was not completed in the traditional eight-hour workday.
EOX Vantage provides many ways to streamline operations for efficient performance. Automation of repetitive, time- and labor-intensive processes reduces costs, boosts efficiency, eliminates errors and creates trackable, actionable data. EOX Vantage can bring all business data together to give complete real-time visibility into the entirety of a company's financials. The Managed Services team covers accounting functions and other back-office duties to refocus full-time staff on more profitable and customer-facing tasks. They can take over when regular office hours are finished to create a 24/7 workforce.
In this case, by implanting cost-saving and efficient processes, the client was able to improve its production statistics. The aggregate daily average of all performers was 8 invoices per day, a 229% increase in performance. By increasing from a standard 8-hour workday to a 24-hour one with the addition of the off-shore team, daily invoicing amounts jumped $460,800. This resulted in an average weekly invoicing amount of $11,008,000.00 from $8,704,000.00, and an almost $10,000,000.00 increase in the average monthly invoicing amount.
About EOX Vantage: As a recognized global leader of operational efficiencies, EOX Vantage delivers premier solutions through our Enterprise Operating System and Managed Services. Clients from the Insurance, Transportation, Manufacturing, Healthcare and Legal industries choose EOX Vantage for the quality and results that our product and services provide. Through the actionable dashboards and data analytics of EOX Vantage's secure, all-in-one platform, businesses gain the visibility they need to make better informed decisions, resulting in increased productivity, reduced time and cost, and enhanced collaboration. EOX Vantage allows clients to focus on what they do best by reducing the time it takes to manage their essential operations and improving efficiencies with data and insights.
