The Agreement Monitoring page provides a digital view for you to monitor your agreement. Instead of dealing with hundreds of pages in your carrier agreement, we present it in a more readable and understandable format.
On the upper-right-hand side, you can select which Active Agreement you want to review (if there are multiple carrier agreement on file). Adjacent to that, you will find the View and Add new Agreements button, which takes you to the Agreements list view.
Here, 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.
The Monitoring page is a powerful feature that serves as a watchdog for your carrier agreement, simplifying the understanding of its key aspects. There are three important elements that it focuses on: Expirations, Gross spend and tier information, and GRI Potential Impact (General Rate Increase).
- 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.
- 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.
- GRI Impact is a tool that helps you understand how the General Rate Increase will affect your business starting in January of the following year. When you reach 90 days from the expiration of any surcharges, you will receive notifications every 10 days until you extend them with the carrier and upload the extensions to the platform. This tool provides a projected impact of the General Rate Increase for the upcoming year by re-rating your 2023 data based on the 2024 Pricing Structure. The leftmost column displays your current growth and net spend based on your current agreement, while the second column shows the GRI Impact for 2023. It provides a forecast of your Annual Net Spend and the Annual Projected Impact based on your shipping spend. As you scroll down, 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.
Combining all these 3 elements will impact the Potential Dollar at Risk Card
