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Procurement Market Intelligence Report

Freight Payment Services Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Freight Payment Services?

What is the average price of Freight Payment Services?

This procurement report includes pricing information to help you purchase Freight Payment Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Freight Payment Services been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Freight Payment Services yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Freight Payment Services?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Freight Payment Services with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase Freight Payment Services?

ProcurementIQ estimates that there are 245 vendors in this market. The market for freight payment services is highly concentrated, with the top three firms collectively holding more than 50.0% of market revenue. The top three vendors (Cass Information Systems, Citigroup and US Bank), have been able to gain their relative... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Internal Controls

I see you conducted a SOC 1 Type 1 audit. Why did you not complete an SOC 1 Type 2 audit? How can I be sure your processes test out?

How often do you check your internal controls?

How do you make corrections if your internal controls fail?

Do you notify clients if internal controls fail or are changed?

Reporting & Analytics

What type of reporting do you provide?

Does reporting need to be initiated by the client or do you provide regular updates?

What tools do you provide for clients to gain analytical information about their invoices?

Can we get custom analytics? At what cost?

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Key elements for every RFP

What should my Freight Payment Services RFP include?

Project Budget

Buyers should explicitly state the amount for their ideal budget.

Buyers should explain the schedule with which payments will be made.

For assistance in ascertaining a reasonable price and price range for freight payment services, buyers can consult the Benchmark Price section of this report.

Selection Criteria

Buyers should look for suppliers that have been in business for a long time and have direct experience providing freight payment services to similar clients.

Buyers should ask for a list of references from current and former customers, including cost savings information.

Buyers should ask for detailed information from prospective suppliers about their protocols for keeping financial information secure.

For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should communicate to prospective suppliers when award information results will be provided.

Buyers need to provide expected due dates for any billing invoices and payment.

Buyers should provide general expectations with regard to response time and customer service.

Evaluate major factors to mitigate risk

How risky is the Freight Payment Services supply chain?

Supply chain risk in the freight payment services market is low overall. Freight payment service providers use computers to process invoices, communicate with clients, distribute payments and conduct other general business tasks. Due to their falling prices and the ease with which they can be replaced, the procurement of computers... Subscribe to learn more.

HIGH

MEDIUM

LOW