Navix provides a logistics platform that automates document ingestion, classification, and freight auditing, significantly reducing manual processing time. By streamlining these operations, Navix decreases Days Sales Outstanding (DSO) by 3-10 days, freeing up working capital for freight brokers and third-party logistics providers.
Funding
$9.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Freight brokers and third-party logistics (3PL) providers often face challenges with manual document processing, leading to inefficiencies in freight auditing and invoicing. These manual processes are time-consuming, prone to errors, and can result in delayed payments and strained relationships with carriers. Traditional Transportation Management Systems (TMS) often lack the specialized functionality needed to fully automate these financial processes.
Solution
Navix offers an AI-powered automation platform designed to streamline document ingestion, classification, and freight audit processes for 3PLs and freight brokers. The platform integrates with existing TMS systems to automate the conversion of unstructured data into actionable insights, significantly reducing manual intervention. By automating invoice processing and dispute resolution, Navix accelerates the order-to-cash cycle, shortens Days Sales Outstanding (DSO), and improves cash flow. The system uses machine learning to identify discrepancies, auto-approve correct invoices, and provide real-time data for informed decision-making. Navix enables businesses to scale operations without increasing headcount, improve carrier relationships through faster payments, and gain better visibility into financial processes.
Target Audience
Navix primarily targets freight brokers and third-party logistics (3PL) providers seeking to automate their freight audit and invoicing processes, reduce DSO, and improve cash flow.
Features
- Automated document ingestion and classification using AI and machine learning
- Integration with existing Transportation Management Systems (TMS)
- Automated freight audit and invoice processing
- Dynamic business rules engine for customized workflows and exception handling
- Dispute handling and resolution with automated processes
- Real-time reporting and analytics for vendor and customer data
- Identification of duplicate documents to reduce clutter
- Automated invoice approval for error-free invoices