IntraVex streamlines the accounts payable process for freight shipments and structures it to meet specific requirements of your enterprise. Features to our freight settlement services include:

Complete Payment Visibility

Your enterprise can view payment history, carrier remittance and banking records of funds receipt and disbursements through secure web access. You can even check the status of freight bill receipt, presentation and approval, and dispute status through settlement to the carriers.

Immediate Funds Disbursements

IntraVex disburses funds between 24 to 48 hours of funds receipt. Bank information is validated multiple times per day, and over 90 percent of funds disbursed are made available for payment the same day. IntraVex is committed to electronic payments to carriers and maintains a growing database of over 300 carriers established in our electronic carrier payment network.

Funds Disbursement Controls

IntraVex ensures that all necessary controls are established for disbursement of funds to the appropriate carriers. These controls include separated freight payment bank accounts; complete separation of accounting duties including responsibilities for remittance preparation and approval and funds disbursements, and daily reconciliation of payments of client payment reconciliation of freight payment accounts Also, all employees are bonded with client coverage of Employee Crime Insurance through Chubb.

No Interest Policy

IntraVex functions only as a custodian of your funds. A separate freight payment account has been established in a non-interest baring bank account. This ensures that no inappropriate practice can occur in the receipt and transfer of funds to the appropriate parties.

Multiple Carrier Payment Options

Utilize our highly automated remittance and settlement services, or leverage remittance data files we create to pay carriers through your internal vendor-payment processes.

Remittance Release

IntraVex prepares carrier specific remittances that are sent via EDI 820 to carrier. Each 820 or carrier specific remittance will include an itemized list of freight and shipping transactions for payment. All remittances also include “non-pay” transaction information that documents to the carrier what our clients are not paying and why. This highly automated remittance and dispute notification process ensures that our services create a win-win payment solution for both you and your carrier.

Support of Client Certification of SAS 70 Testing

For companies who require Sarbanes Oxley certification, IntraVex will support the review and certification of the shipping and freight expense category ensuring that all controls, audits, and accounting practices are met to support your companies needs for public acknowledgement of accounting practices.