Settle in for Success: Shipwell's 8 Steps to Streamlined Settlement Onboarding

Navigating the choppy waters of supply chain management can be a daunting task, and the risk of drowning in a sea of paperwork is always a risk — especially when it comes to the often-turbulent settlement process. But, just like a skilled captain at the helm of a sturdy vessel, Shipwell is here to guide you through these rough waters with a wide range of settlement tools and capabilities that will not only simplify your workload, but also save you time and money.

However, we know that embarking on a new journey can be overwhelming, and that's why we've created this comprehensive guide. Consider us your experienced crew, ready to assist you every step of the way. Whether you're a seasoned veteran or a newcomer to the industry, we'll make sure that you're equipped with all the knowledge and guidance you need to settle in for success.

To help smooth the waters, we've outlined the steps we recommend you follow in order to successfully onboard settlement within Shipwell below. But before you embark, we recommend you review our article ‘Maximizing Your Settlement Potential: 10 Best Practices to Follow’ to get a clear view into the best practices to keep in mind when you start Settlement within Shipwell to ensure a more efficient and effective process. 

For those who have navigated their way through those best practices and/or have already established their desired Settlement process and the metrics they’ll leverage to measure success, you are ready to dive into the next step — putting Shipwell’s Settlement functionality to work.

To make sure you’re able to get the most out of these capabilities, simply follow these 8 steps to streamlined settlement onboarding: 

1. Setup Settlement Configurations: Within Shipwell there are a number of Settlement Configurations covering such as amount variances threshold that trigger First Pass Match Exceptions. Your Shipwell administrator can view and adjust these thresholds and this should be done prior to onboarding carriers. Settlement Configurations can be accessed by going into ‘Manage’ -> ‘Company’ -> ‘Company Defaults’ and selecting ‘Settlement’. 
2. Setup Settlement User Access: Within Shipwell you can turn on or off Settlement access by simply removing the ‘Invoicing’ user functionality. Go into ‘Manage’ -> ‘Company’ -> ‘Users’ and activate ‘Invoicing’ for each user that should have Settlement access. Only Shipwell user administrators can update this access.
3. Setup Settlement User-Specific Email/Notifications: Within Shipwell under the Profile icon and select User Preferences and then Notifications where you can turn on/off email and in-app notifications. Make sure ‘Invoice Activity’ is turned on if you desire to receive Settlement emails/notifications. Note users manage this access themselves so best time to have users update this so it is active is during a user training session.
4. Activate In-App Uploaded Invoice: The in-app uploaded invoice is activated on a customer-by-customer basis. Accordingly, if you are looking to have your carriers or your own people upload PDF invoices and have the information extracted from them, then let your Customer Service Manager know and it will be activated. 
5. Integrate Any Inbound EDI 210 Carriers: For any carriers that will be delivering their invoices via inbound EDI 210, then please make sure you connect with your Customer Service Manager. Note that there may be a separate services integration fee for this integration process if not already part of an existing contract or a current SoW.
6. Identify if an ERP or FMS integration is desired: Customers that want to integrate their Enterprise Resource Planning (ERP) or Financial Management System (FMS) with Shipwell can do so. The Settlement API documentation can be found here. If looking to move forward with a Settlement integration then the suggestion is working with our Professional Services group to successfully establish these integrations.
7. Train Internal Users: Train internal users on Shipwell’s Settlement functionality and how you are using it for your process. Clearly defining the process expectations around using Shipwell is important. This should include a test of Settlement invoice processing.
8. Onboard Carriers: Onboarding carriers with a clear understanding of your settlement process and expectations is an important aspect of success. Communicate the What, When, and How with each carrier. We have a series of how-to videos to help carriers in using the Shipwell platform. Review the ‘Seven Steps to Creating a Win-Win Experience for Settlement’ article around creating win-win relationships with carriers. 

After you have completed these steps then you should be live and active within Shipwell and ready to set sail for a more operationally efficient and effective Settlement process. 

Just like a smooth voyage across the high seas requires a skilled navigator and a sturdy ship, successfully managing your supply chain's Settlement process requires the right tools and a reliable partner. With Shipwell's TMS, you can rest easy knowing that you have both. So, keep your sails full and your compass pointed true, and stay tuned for the final installment in our three part series where we'll outline how to make settlement a winning experience for both you and your carriers as you navigate the waves of change in the world of supply chain management.