One of the most time-consuming and error-prone processes in logistics can now be automated thanks to a new AI agent developed by industry software specialist CocoonFMS.
Freight forwarders and logistics businesses can significantly reduce the amount of time they spend on invoice matching, accruals and financial reconciliation using CocoonFlow, a new AI-powered agent built specifically for this purpose.
The technology is a major addition to CocoonFMS’s rapidly growing transport management system CocoonOPS, which helps businesses streamline operations, cut costs, boost customer satisfaction and reduce their carbon footprint.
CocoonFlow will be demonstrated alongside the full suite of CocoonOPS features at this year’s Multimodal expo in Birmingham, showing how AI can be used to solve genuine operational challenges rather than just adding another layer of technology.
For many freight forwarders, reconciling supplier invoices remains a highly manual process. Finance teams can spend hours comparing purchase orders, supplier invoices and shipment records to ensure everything matches.
With this system, teams simply upload their invoice into CocoonOPS and the AI agent automatically searches shipment records, matches charges against jobs, links them to the correct purchase order and prepares them for synchronisation with accounting platforms such as Xero, QuickBooks and Sage 50.
Where information is missing or discrepancies identified, the system flags for review, allowing businesses to focus only on the transactions that genuinely require human intervention.
James Blackman, Managing Partner at CocoonFMS, said:
“We are constantly developing the features and functionality of CocoonOPS to help businesses work as efficiently as possible with smooth systems rather than clunky manual processes.
“Invoice matching and accruals is one of those remaining admin bottlenecks for the industry. By automating the vast majority of that, we can save time, improve accuracy and free teams up to spend time on other things.”
Unlike platforms that rely heavily on third-party applications, CocoonFlow has been designed and developed entirely in-house, removing the need for additional subscriptions and licences.
Designed specifically for freight forwarders, the cloud-based platform combines shipment management, customs processing, workflow automation, financial management, customer portals and carbon reporting within a single integrated system.
CocoonCarbon, the integrated carbon emissions platform, has so far calculated emissions across more than 1.9 milion shipments, covering 2.3 billion kilometres – equivalent to travelling around the world more than 58,000 times.
It has tracked more than 8.7 billion tonnes of Scope 3 carbon emissions, providing businesses with a detailed insight into their environmental impact across road, sea, air and rail freight.
The visual reporting helps businesses identify emissions hotspots in the supply chain, make informed decisions about their chosen transport routes, and potentially reduce costs through optimised routing.
James added:
“Our goal has always been to make freight forwarding simpler, faster and more efficient. CocoonFlow is another major step towards that vision.
“AI is not a silver bullet and it won’t replace experienced operators. What it can do is remove repetitive, low-value administrative tasks so people can focus on delivering great service and growing their business.
“We’re looking forward to demonstrating that in person at Multimodal.”
Visitors to Multimodal will be able to see live demonstrations of CocoonOPS and CocoonFlow throughout the exhibition at Stand G6 throughout the event from June 30 to July 2.
