What is Carrier Contract Monitoring?

The Carrier Contract Monitoring page provides a digital view for you to monitor your carrier contract. Instead of dealing with hundreds of pages in your carrier agreement, we present it in a more readable and understandable format. 

You can find the Carrier Contract Monitoring page by hovering your pointer to the Govern Tab, then click Carrier Contract Monitoring 

On the upper-right-hand side, you can select which Active Carrier Contract that you want to review 

The Carrier Contract Monitoring page is a powerful feature that serves as a watchdog for your carrier contract, simplifying the understanding of its key aspects. There are six important elements that it focuses on: Rate Audit, Gross spend and tier information, Comparisons, Expirations, Impact Modeling and My Carrier Contractsa

1.  The Rate Audit tool  automatically checks every carrier invoice to make sure you’re being billed according to your agreement. As invoices flow into Reveel, they’re re-rated against your contracted discounts so you can see if the charges are correct, and track overbilling or underbilling trends over time. It’s a fully automated, ongoing validation process that gives you the proof you need to address billing errors quickly. While we don’t file credits on your behalf, we give you the visibility and data to recover what’s yours.  
2. Using the Gross spend and Earned discount information card, you can easily assess your current position within the earned discount structure. The yellow dot on the card represents your current tier. It's worth noting that we are the first in the industry to provide this information, offering you a strategic view of how you can effectively manage your shipping spend and its impact. Advancing to a higher tier grants you benefits, while falling out of your tier results in a reduction of discounts. This tool allows you to monitor your progress at all times, and we will notify you if you are approaching the edge of your discount. Additionally, having an overview of your overall spend will assist you in determining the right time to initiate negotiations.
3.  The Comparison feature lets you evaluate carrier proposals against your current pricing, so you can identify the best bid and see potential savings 
4. The Expirations section helps us assess the financial impact on your company if no action is taken to extend the expirations. The platform displays insights on what is at risk of expiring and the financial consequences of expiration. In your case, no expirations have been detected as your agreement discounts extend beyond 180 days. To ensure you are well informed, we will proactively send you an email notification 90 days in advance of any upcoming expirations.
5. Impact Modeling is a tool that helps you understand how the General Rate Increase will affect your business starting in January of the following year. This tool provides a projected impact of the General Rate Increase for the upcoming year by re-rating your current year data based on the current year Pricing Structure. It can provides a forecast of your Annual Net Spend and the Annual Projected Impact based on your shipping spend. Additionally, you will find data broken down by service level and surcharges, indicating whether the impact will be a decrease or increase. The tool reflects the effect of the General Rate Increase that takes place in January.
6. With the Carrier Contract Card, you can access your previously uploaded agreements, check their status, see if they are marked as active, and view the date of the latest update. This page is an essential part of your workflow with our Analyst. When you receive new proposals from the carrier, you can upload the PDF file here for us to compare and determine how close we are to the target. Typically, it takes 2-3 business days for the uploaded agreement/proposal to be ready for review or comparison. Initially, it will appear as pending/in review, and once it is ready, it will be marked as approved.