Brian Rudich, COO of Chicago-based HubTran, introduced the automated payments system to the MarketWaves 18 audience during a series of seven-minute rapid fire demos held throughout the conference.
The platform uses OCR and machine learning to streamline carrier payables. The average person can process 75 invoices per day, Rudich said. HubTran can process 300.
Rudich’s demo took the audience through a sample payment. The system requires a bidirectional real-time data feed from the TMS, and the company’s accounts payable box, which flows into the dashboard.
HubTran is smart enough to ID different documents: invoices, rate confirmation, bill of lading and notice of assignment. It also identifies which load these documents belong to and if there are any violations on the invoice.
Next, HubTran passes on the invoice number to payables. This step is usually done by hand and is potentially error prone, Rudich said.
A big pain point is ensuring you’re paying the right entity. HubTran reads the document and identifies that it matches the address on file.
Voila: With a few clicks, HubTran has processed four documents and cued up one payable.
More of the popular demos, which aren’t allowed to use PowerPoint slides and must show the product in action, will be featured atTransparency19 in May.