AI drives A/R risk scores for users of Carrier Logistics FACTS

Carrier Logistics Inc. (CLI), a veteran provider of freight management software for Less-Than-Truckload (LTL) fleets, today announced a valuable new feature, that provides Automated A/R Risk Scores, has been added to its FACTS solution. The enhancement uses Artificial Intelligence (AI) to identify at-risk accounts, which conserves valuable company resources and reduces bad debt.

“In today’s economic climate, timely accounts receivable collections are more important for carriers than ever before,” said Ben Wiesen, president of CLI. “With Automated A/R Risk Scores being calculated in the latest version of FACTS, you can quickly know which customer accounts are at higher risk and use that information to prioritize collection efforts and improve your cash flow.

“Spending less time analyzing customer accounts also means your staff can focus on other essential business processes,” Wiesen added. “This addition to FACTS is the latest improvement we’ve made using AI technology and one of many more to come.”

The AI-driven Automated A/R Risk Scores feature in FACTS looks at accounts receivable records much the same way that an experienced A/R manager would, focusing on such factors as account age, payment history, open balance trends, and activity for each customer. The system does this automatically, and it can focus on all accounts, all the time. That means even small balance accounts with a potentially elevated collections risk that might otherwise have slipped through the cracks are brought to management’s attention before they turn into a collections problem.

Users can sort by risk score to view accounts with a higher risk or by the change in risk to see which accounts require more attention. The data can be presented in various options including in Excel format, and in line and bar charts to illustrate scores over time.

The Automated A/R Risk Score functionality was designed to give our clients an indicator of where to look for issues, noted Yvan Vazquez, customer success manager at CLI. “On the enhanced Customer Inquiry screen, they now have a powerful tool for visualizing key insights and determining which accounts constitute a high risk that could lead to bad debt,” he said.

Carrier Logistics FACTS™ is the premier solution for meeting the unique transportation and freight management needs of asset-based LTL carriers and the last-mile industry. FACTS include online customer shipping tools, dispatch, and driver management, a superior rate engine, cross-dock management, and a full back-office suite that gives transportation professionals the tools they need to operate cost-effectively while providing improved freight visibility to their customers.