Charlotte – April 14, 2021 – Ehrhardt Partner Group (EPG), a leading global provider of supply chain execution and voice software solutions, today introduced a new contract management solution for 3PLs, EPG Contract Management, at ProMatDX 2021. The cloud-based software is optimized for the post-pandemic third-party logistics (3PL) operating environment, automating and streamlining customer invoicing for operational improvement and shorter payment timeframes.
Also during the show, EPG is showcasing its Lydia Voice 8 workflow optimization solution with the introduction of a new, fully-functional demo app — Lydia Voice Demo — available as a free download via Google Play. The app allows users to experience EPG’s market leading neural network voice recognition solution, which eliminates previous generation voice template training requirements.
Further, on Friday, April 16, Scott Deutsch, President, EPG Americas will share a thought leadership presentation on the “New Wonders of Voice Technology.” The session will explore the evolution of the voice industry, how the new world of voice technology addresses key changes in the post-pandemic operating environment, and strategies for building an unbeatable business case for voice technology adoption.
Increased Services Invoicing Means Greater Revenue: 3PLs Get Paid for Their Value Faster.
The 3PL industry continues to prosper as more businesses partner with service providers offering multiple capabilities, focused expertise and the ability to support their clients’ future growth. However, the exponential explosion of smaller orders has created an immediate challenge for today’s 3PLs, as contract terms have historically been structured for a customer profile that has changed. The demands of the current high-volume, high-throughput environment have exposed weaknesses in many existing contract management and billing procedures.
As the competitive landscape evolves, today’s 3PL CFOs are challenging their organizations to increase revenue opportunities per contract while simultaneously cutting operating costs. Their concerns include:
• Ensuring accurate documentation of all provided services for full invoicing.
• The amount of time spent by internal personnel reviewing and verifying monthly customer invoices.
• Minimizing the number of people involved in this administrative process.
• The need to improve efficiency in this effort.
• Establishing customer invoice agreements faster to improve accounts receivable invoicing.
“This situation has created a new opportunity to identify and enhance invoicing practices, enabling 3PLs to get paid for their value in less time,” explained Deutsch. “With the new, cloud-based EPG Contract Management solution for 3PLs, logistics service providers can automate and streamline their billing processes for faster invoice verification and payment.”
The solution enables 3PLs to quickly and accurately invoice all provided services for their different clients — often days earlier in the month than previously achieved. It also enables businesses to dramatically decrease the amount of effort required of the traditional invoice verification process by up to 80%, significantly reducing days sales outstanding (DSO) for payment.
About Lydia Voice 8
Lydia Voice 8 is the first voice recognition solution for the logistics market to use deep neural network technology designed specifically for the industrial environment where “near perfect” voice recognition is required and eliminates outdated voice-template training. Lydia Voice 8 virtually eliminates one of the most time-consuming multi-site IT responsibilities associated with a typical voice project when Lydia Voice Enterprise SiteSwitcher with dynamic set-up is leveraged. Native integration with SAP EWM and WM and direct integration with additonal leading ERP/WMS solutions. Extensive real-time analytics is available with TimeSquare Cloud Analytics.
Ehrhardt Partner Group (EPG) is the leading provider of comprehensive supply chain execution and Lydia Voice software solutions for smarter connected logistics with more than 1,500 customers globally and a team of almost 700 team members. EPG’s highly configurable and scalable logistics solution, LFS, delivers Tier I functionality inclusive of: warehouse management, warehouse control and automation, resource management, transportation management, advanced business intelligence analytics and its industry leading iBrowser ensures ongoing support for all major browsers, delivering flexibility and platform independence. Our Lydia Voice solution offers unparalleled voice recognition with its deep neural network technology and eliminates the need for voice template training, while interfacing with a multitude of WMS and ERP solutions, as well as real-time analytics is available with TimeSquare Cloud Analytics. To learn more, visit www.epg.com.