Announcing Invoice Intelligence for Factors

Invoice Intelligence launch webinar

Chicago, October 12, 2020 – HubTran, the transportation industry’s leading automation platform, today announced the launch of Invoice Intelligence, its newest product for factors. This cutting-edge product eliminates errors and fraud, allowing factors to get paid faster and more completely. Invoice Intelligence empowers factors with the information they need to make the right purchasing and verification decisions, every time.

Auditing and verifying invoices is a repetitive, manual process completed on a tight timeline. Until now, factors have limited data and rely on individual judgment to determine which invoices to verify and ultimately purchase. Invoice Intelligence combines direct debtor TMS integrations with sophisticated machine learning models, trained on millions of payment outcomes and billions of documents to automatically flag issues like abnormal lane rates, information mismatches, and more. Invoice Intelligence’s artificial intelligence automatically spots discrepancies so factors can stay ahead of increasingly sophisticated fraud, along with more routine errors that lead to slow- and short-payment. These new tools are wrapped in a streamlined new workflow for pre-purchase verifications that doubles verifier productivity.

Tom Durrenberger, HubTran Vice President of Factors, says, “Now, factors never have to guess which invoices need their attention. Invoice Intelligence enables them to do more verifications and the right verifications every time.” “With Invoice Intelligence, factors decrease risk, increase profits and position themselves to win in the market,” said Matt Bernstein, HubTran CEO.

Invoice Intelligence arms factors with two main tools: Invoice Surveillance and Verifications Workflow.

  • Invoice Surveillance integrates directly with the HubTran processing platform to identify abnormal lane rates, compare invoice details to debtor data in real time, and flag missing documentation and information mismatches.
  • Verifications Workflow streamlines the verification process, with deep automation and smart prioritization. It is fully integrated with HubTran’s Verifications service, which features direct TMS integrations with hundreds of debtors.

About HubTran HubTran has sparked a back-office revolution by replacing old-school systems with automation to efficiently process invoices, bill customers, and manage documents. The company does it with enterprise-grade software using optical character recognition and artificial intelligence that’s smart, easy, and affordable. HubTran 3PLs and factors work 4X faster with better cash flow and incredible accuracy. HubTran recently earned a spot on FreightWaves’ Top 25 most innovative companies list. Other awards include the Harvard Business School New Venture Competition, Chicago Innovation Award, and Executives’ Club of Chicago Innovator of the Year. The most important reviews come from HubTran customers who can’t say enough about product performance, minimal startup time, and excellent customer service.

Ready for your team to work 4X faster?