OpenEnvoy partners with CMA CGM on AI Freight Audit

SAN MATEO, Calif., May 7, 2024 /PRNewswire/ -- OpenEnvoy, a leading provider of Accounts Payable (AP) automation solutions, is pleased to announce its partnership with CMA CGM, one of the world's largest and most respected shipping lines. This collaboration will enable CMA CGM to provide even better customer service through the use of OpenEnvoy's cutting-edge technology for real-time freight auditing.

OpenEnvoy's platform uses artificial intelligence and machine learning to analyze invoices and other financial documents in real-time, identifying errors, discrepancies, and opportunities for cost savings. By integrating this technology into their existing processes, CMA CGM is able to streamline their freight audit workflows, reduce manual effort, and ensure greater accuracy in their billing and payment processes.

"We are thrilled to be working with CMA CGM, a company known for its commitment to innovation and excellence," said Matthew Tillman, CEO of OpenEnvoy. "Our platform is designed to help businesses like CMA CGM save time and money while improving their overall financial operations. We look forward to helping them deliver even better service to their customers."

The partnership between OpenEnvoy and CMA CGM represents a significant step forward in the use of AP automation technology in the shipping industry. With OpenEnvoy's expertise in real-time freight auditing, CMA CGM can eliminate costly disputes and claw back procedures and continue to provide efficient, accurate, and reliable services to its clients.

"The intricate landscape of financial operations at CMA CGA, a global player in sea, land, air, and logistics solutions, conducting business across 160 countries and with thousands of partners, compelled me to seek an AI technology solution that could scale and adapt with our ever-changing requirements," said Rafaela Nunes, Senior Director of Technology Innovation & Data Strategy at CMA CGM America. "We selected OpenEnvoy because of its advanced AI/ML platform that processes large volumes of documents with complex freight reconciliation in real-time, accurately at scale like no other vendor can."

About OpenEnvoy:
OpenEnvoy is the leading provider of Applied AI for Accounts Payable (AP) automation solutions, using artificial intelligence and machine learning to simplify and optimize financial workflows. The company's platform enables organizations to automatically capture, code, and audit invoices and other financial documents in real-time, reducing manual effort, increasing accuracy, and unlocking valuable insights. For more information, visit www.openenvoy.com.

About CMA CGM:
Led by Rodolphe Saadé, the CMA CGM Group, a global player of sea, land, air, and logistics solutions, serves more than 420 ports around the world across five continents, with a fleet of around 620 vessels. In 2023, it carried a total of 21.8 million TEU (twenty-foot equivalent unit) containers. With its subsidiary CEVA Logistics, a global logistics provider that delivered 522,000 tons of air cargo and more than 22 million tons of inland freight cargo, and its CMA CGM AIR CARGO division, the CMA CGM Group is constantly innovating to offer its customers a comprehensive, increasingly efficient range of new maritime, overland and air shipping and logistics solutions.

Firmly committed to the energy transition in shipping and a pioneer in the use of alternative fuels, the CMA CGM Group has set a Net Zero Carbon target for 2050.

Every year, the Group supports thousands of children through its CMA CGM Foundation, with initiatives to promote education and equal opportunity for all. The CMA CGM Foundation also responds to humanitarian crises requiring urgent action by calling on the Group's shipping and logistics expertise to deliver humanitarian supplies around the world.

Present in 160 countries, through its network of more than 400 offices and 750 warehouses, the Group employs 180,000 people worldwide, of which around 6,000 in Marseille where its head office is located. In the United States, CMA CGM, which is headquartered in Norfolk, Va., employs more than 22,000 people. Its subsidiary, American President Lines (APL), operates a fleet of U.S.-flagged vessels and supports U.S. territories and American military stationed around the world. cmacgm-group.com/en/ 

Media Contact: Jake Adger, [email protected]

SOURCE OpenEnvoy