Our Partnership with Raft AI to Streamline Operations, and Deliver Even Better Performance
July 10th, 2024
Navia today announced our partnership with Raft AI, the world’s largest AI logistics platform, in the successful rollout of our AI-automated logistics accounting capability to process high volumes of AP invoices.
Every month, our finance teams receive thousands of invoices from the partners we work with to keep our customer’s freight moving. With Raft, AI now handles the bulk of that processing, including not only document processing and data extraction but also validation against existing data. This allows us to focus more of our time on providing services and value to customers.
Raft runs the world’s largest AI-powered logistics platform. Over 10,000 users move more than 5 million shipments per year, creating a logistics industry data collective of 5 billion labelled data points across 100 million documents, each verified by human experts. More than 50 leading freight forwarder customers use Raft to automate finance, customs, and operational workflows.
“AI now takes care of more than 3,000 minutes a week of document processing, which previously were tasks that our staff did not enjoy,” said Rob Ardesi, COO at Navia. “The automation provided by Raft also required us to have our processes optimized, which helped identify areas for improvement which otherwise would have gone unnoticed”
AI is helping us overcome the hurdles of manual financial operations with zero-touch invoice processing, automated approval workflows, and centralized dashboards. Today, 35% of invoices received don’t need any human intervention to process successfully, and another 40% require just one touch. At scale, these were workloads that previously consumed a significant amount work by our finance teams.
“From day one, the Navia team saw the immense potential that AI can bring to the logistics industry,” said James Coombs, CEO of Raft. “As AI continues to mature, we will see a massive shift in how technology is used to move freight. We are thrilled to be on the journey with the Navia team.”
Our accounts payable team previously dealt with constant headaches and stress caused by human error as costs were being allocated incorrectly. The Raft platform automated the entire process, making it more efficient, while simultaneously improving accuracy.
Ultimately, Raft allows us to provide better services to our customers. Operations teams have more capacity and insights to keep freight moving and disruptions minimized.
For more information visit www.naviafreight.com or www.raft.ai.
