{"id":9898,"date":"2020-01-13T18:18:30","date_gmt":"2020-01-13T17:18:30","guid":{"rendered":"https:\/\/www.stocexpo.com\/?p=9898"},"modified":"2020-02-11T13:12:33","modified_gmt":"2020-02-11T12:12:33","slug":"digital-innovation-drive-bol-efficiency","status":"publish","type":"post","link":"https:\/\/www.stocexpo.com\/en\/2020\/01\/13\/digital-innovation-drive-bol-efficiency\/","title":{"rendered":"Digital Innovation Drive BOL Efficiency"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"9898\" class=\"elementor elementor-9898\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-798971a7 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"798971a7\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;,&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1948f740\" data-id=\"1948f740\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-44e7ebb9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"44e7ebb9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-54fe2fa4\" data-id=\"54fe2fa4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-555aed82 elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"555aed82\" data-element_type=\"widget\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Digital Innovation Drive BOL Efficiency<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-29d63f62 elementor-align-left elementor-widget elementor-widget-post-info\" data-id=\"29d63f62\" data-element_type=\"widget\" data-widget_type=\"post-info.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-inline-items elementor-icon-list-items elementor-post-info\">\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-7a16641 elementor-inline-item\" itemprop=\"datePublished\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-date\">\n\t\t\t\t\t\t\t\t\t\t<time>13\/01\/2020<\/time>\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-569ecccd elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"569ecccd\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2f35a0d1 elementor-widget elementor-widget-text-editor\" data-id=\"2f35a0d1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>In refined fuels, the\u00a0bill of lading (BOL)\u00a0that verifies ownership of the fuel can be as important as the transported fuel. In fact, the average value of one BOL can easily top $15,000, so when BOLs are incorrect or even lost, revenue is impacted, both in terms of the lost product, as well as the time invested in finding lost documents and correcting mistakes.<\/p><p>In addition to the value of the fuel, research shows the average cost to correct a single billing error on an invoice is $126. The opportunity to work more efficiently and effectively can definitely make a difference in the bottom line.<\/p><p>Although the digital transformation has brought many efficiencies to a function devised hundreds of years ago, suppliers are still spending considerable time and effort identifying missing BOLs that result in having to work with terminal operators to resubmit documents for invoicing. \u00a0The suppliers spend time logging into multiple supply partner portals to obtain BOL reports and manually comparing reports to make sure all BOLs are accounted for, some allocating as many as four full-time employees for this work.<\/p><p>There are new innovative technologies offered by industry leaders to help suppliers identify lost documents before customers realize they were overlooked and ensure BOLs are reconciled in a timely fashion. DTN\u2019s innovative tool,\u00a0<a href=\"https:\/\/www.dtn.com\/wp-content\/uploads\/2019\/05\/DTN-TIMS-BOL-RECON.pdf\" target=\"_blank\" rel=\"noopener\">TIMS BOL Recon<\/a>, automatically looks for missing BOLs every 24 hours and notifies users if any missing BOLs are found.<\/p><p>A SaaS-based solution can help reduce personnel overhead, realize revenue faster and actually boost transparency between the suppliers and terminals. The DTN BOL Recon system offers a watch list function that allows users to add BOLs to the list. The system will inform the user when it sees that a BOL has been billed.<\/p><p>The digital transformation of BOLs is quickly making the use of these important contracts more effective and efficient with software solutions and advancements in IoT.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-7b13ab0a\" data-id=\"7b13ab0a\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-64373765 elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"64373765\" data-element_type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t<div 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class=\"elementor-element elementor-element-49ed674c elementor-widget elementor-widget-heading\" data-id=\"49ed674c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">#stocexpo #futuredelivered<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-23d533d2 elementor-shape-circle elementor-grid-0 e-grid-align-center elementor-widget elementor-widget-social-icons\" data-id=\"23d533d2\" data-element_type=\"widget\" data-widget_type=\"social-icons.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-social-icons-wrapper elementor-grid\" role=\"list\">\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-twitter elementor-animation-push 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href=\"https:\/\/www.linkedin.com\/showcase\/stocexpo-&#038;-tank-storage\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Linkedin-in<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-linkedin-in\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-instagram elementor-animation-push elementor-repeater-item-b98d648\" href=\"https:\/\/www.instagram.com\/stocexpo_tankstorage_events\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Instagram<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-instagram\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>In refined fuels, the&nbsp;bill of lading (BOL)&nbsp;that verifies ownership of the fuel can be as important as the transported fuel. In fact, the average value of one BOL can easily top $15,000, so when BOLs are incorrect or even lost, revenue is impacted, both in terms of the lost product, as well as the time [&hellip;]<\/p>\n","protected":false},"author":219,"featured_media":9900,"comment_status":"open","ping_status":"open","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[262],"tags":[],"edition":[],"class_list":["post-9898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release"],"_links":{"self":[{"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/posts\/9898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/users\/219"}],"replies":[{"embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/comments?post=9898"}],"version-history":[{"count":0,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/posts\/9898\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/media\/9900"}],"wp:attachment":[{"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/media?parent=9898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/categories?post=9898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/tags?post=9898"},{"taxonomy":"edition","embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/edition?post=9898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}