About Us

What made eleven Fortune 100 companies and the US Government want to work with us?

Our clients range from small enterprises to Fortune 100 companies and governments. Some of them have had as many as three other layers of audits done already, yet we consistently found the same three core issues:

Incorrect charges appearing correct
Due to the disruptive nature of ocean freight invoicing, erroneous payment records often appear legitimate when put through regular freight audits, resulting in significant revenue loss.

Years of unclaimed refunds and credits
Because the global statute of limitations for ocean freight is measured in years, not months, competitive audits don’t focus on historic invoicing or payments. A huge amount of refunds and credits aren’t returned to company accounts and remain in your vendor’s bank account.

Company data at risk
Every ocean freight transaction leaves an enormous digital footprint. Despite previous security and payment audits, we consistently found that each client's data was compromised in some fashion.

The budget leak freight audits haven’t plugged for decades

Over 20 years ago, Ocean Audit CEO Steve Ferreira was a senior manager at a leading ocean freight carrier. He was facing the same problem his colleagues are facing today: clients were complaining that ocean freight invoices were frequently incorrect and billed at rates that didn’t consistently match their contracts.

Steve knew that correcting the errors internally would overwhelm the company’s internal audit systems, but at the same time, doing nothing would jeopardize client relationships. Therefore, he was compelled to discover and resolve the underlying issues.

An inherently broken process slowly emerged

  • 1)Ocean vendor’s origin office miscalculates ocean freight rates 20% of the time
  • 2)Vendor’s destination office is responsible for correcting errors, but due to invoice control outsourcing, responsibility is shifted to the client
  • 3)Client doesn’t have the internal resources to anticipate and pinpoint erroneous invoices or understand the root cause of errors on the ocean carrier’s side
  • 4)Third-party auditors lack expertise in ocean freight, giving client false sense of security
  • 5)Client’s invoices appear accurate even when they are not
  • 6)Disorganized process blocks dispute resolution and ensures poor refund recovery rates
  • Companies were bleeding thousands and even millions per year.

  • Steve realized that only an industry insider could close this invisible budget gap. The existing freight audit processes would never catch up to the point that they could rectify the issue.

  • That’s what led Mr. Ferreira to establish Ocean Audit in 1994 as the first, and still the only, company specializing in ocean freight credit recovery and dispute management.

  • Two decades later, Ocean Audit’s process dives even deeper, identifying and resolving 50% more refunds on ocean freight spend than all other auditing practices combined.

The ocean freight audit process is still broken, and it leaks company data.

Container shipping is no longer just the CFO’s concern. In the 21st century, it has to be the CISO’s concern as well.

Company data is also at risk: every ocean freight invoice issued has the potential to harm the supply chain.

100% of our clients to date have leaked sensitive information simply because other audits failed to grasp this issue.

How Ocean Audit augments your revenue recovery process

Ocean Audit is a special situations firm that improves your ocean freight invoice control and dispute management process without making serious changes to your existing auditing process. We also help your supply chain eliminate the hidden problems with the ocean freight invoice process – issues that 95% of our clients are unaware of.

As an Ocean Audit client, you will receive:

1Additional refunds
We will check all of your financial records over the past 3-5 years for 42 specific ocean freight error patterns and identify your maximum refund potential.

2End-to-end credit recovery
Our process handles every task, from error identification to dispute management to credit recovery.

3A solution to hidden data security breaches
Unlike other freight audit practices, Ocean Audit addresses the impact of ocean transportation on your information security.

4Continuous support
We keep in touch with you on a regular basis to ensure that your ocean freight overcharges have been reduced.

5Our risk-free guarantee
Setup takes less than an hour and we only charge on a contingency basis – no recovery, no fee.

You can discover your refund potential and evaluate your information security risk now, free of charge.

Request a 15-minute evaluation

Ocean Audit’s founder and CEO

Steve Ferreira

has a 30-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 and companies desperately need another solution. Today, Steve’s process not only uncovers invisible budget breaches but also solves a second problem in the area of the data security caused by the import/export invoicing process. Steve Ferreira is a keynote speaker at industry events and is often featured in leading business publications like USA Today, NBC News and Reuters.