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Machine Learned Ocean Freight Refunds Shared in First Meeting

Learn How We Do It

95% of Owed Refunds Are Currently Being Withheld

There are currently five billion dollars in ocean freight refunds sitting in vendor bank accounts due to the inefficiencies of the ocean freight marketplace. Recovering these funds is one of the most significant problems which Shippers face.

We have found a way to use machine learning to validate five, six and seven-figure cash refunds in a matter of days.

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0% Sitting in Foreign Accounts
$5Billion In Shipper Profits

Shippers Challenge

Years of inaccurate and inconsistent ocean freight vendor invoicing combined with Shipper AP audit processes that treat the ocean freight payables event as if it were a truckload or small parcel payables event.

The Result

Retention of Shipper funds and loss of Shipper profits.
We have disrupted that process. This is what we do.

Years of Inaccurate Ocean Freight Invoicing

Initial Recovery Amounts Configured Before Our First Call

Fractured Invoice Process

5,000 Vendors, 5,000 Different Processes

CFOs Looking for Value

Empowering Finance/Logistics Teams Using Machine Learning - 100% Risk-Free

Domain Expert

Our CEO is The Leading Industry Expert in the Ocean Freight Recovery Space

Disrupting the Broken Process for the World’s Largest Companies

  • 0.25% of Ocean Spend Recovered in 96 hours

    Newly minted process for Volkswagen to take control of their own internal audit.

    0.25% of Ocean Spend Recovered in 96 hours Newly minted process for Volkswagen to take control of their own internal audit.

    Volkswagen
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    Instantaneous Refunds Exceeding $200,000

    completed and confirmed by ocean vendor within 1 week from commencing the engagement. Money was recovered using a prototype process developed by Ocean Audit to make the identification and return of the funds much easier on the part of the ocean freight vendors.

      Instantaneous Refunds Exceeding $200,000 completed and confirmed by ocean vendor within 1 week from commencing the engagement. Money was recovered using a prototype process developed by Ocean Audit to make the identification and retu...

    Canon
  •  

    $417,441 RECOVERED IN 96 HOURS
    REFUNDS WERE FROM INVOICES AGED 2 FULL YEARS

    Without Ocean Audit’s solution, this refund would have expired with no value. First Solar is now utilizing this refund to support its supply chain initiatives.

      $417,441 RECOVERED IN 96 HOURS REFUNDS WERE FROM INVOICES AGED 2 FULL YEARS Without Ocean Audit’s solution, this refund would have expired with no value. First Solar is now utilizing this refund to support its supply chai...

    First Solar

steve ferreira

Ocean Audit’s Founder & CEO

Steve Ferreira

has a 37-year background in global container shipping. He established Ocean Audit in 1994 when he realized general freight audit practices reverse no more than 50% of overcharges occurring in ocean transportation. Today, Steve’s process is leading edge and collaborative. Specializing in recovering ocean freight invoice errors in under 96 hours for Shippers, Steve also assists ocean vendors in the entire spectrum of invoice enhancement practices. Steve Ferreira is often featured in leading business publications like USA Today, Journal of Commerce, CNBC and Forbes.