carrier payments

Making invoice presentment and payments frictionless

Invoicing and payment processing inherently come with a certain amount of friction and hassle, specifically between carriers and brokers. Payments platform TriumphPay is focusing on providing frictionless presentment, settlement and payment experiences for brokers, carriers, shippers and factors so they have the freedom to grow their businesses.

Haley Evans, senior vice president of client delivery for TriumphPay, sat down with FreightWaves’ Timothy Dooner on the What the Truck?!? Podcast to...

https://www.freightwaves.com/news/making-invoice-presentment-and-payments-frictionless

3 reasons why brokers choose TriumphPay

By Haley Evans, SVP, Broker and 3PL Services at TriumphPay

Booking freight may be brokers’ primary trade, but building and maintaining carrier relationships is their forte. Fostering connections is crucial in garnering success in this industry — anyone can book a load with carriers, but it takes a bit of skill to get them to keep coming back.

Charisma only goes so far in this hypercompetitive, digitally connected industry. The freight market is moving faster every year, as 50%-60% of the loads...

https://www.freightwaves.com/news/3-reasons-why-brokers-choose-triumphpay

4 reasons why factors turn to TriumphPay

By Tim Valdez, senior vice president, factor leader at TriumphPay

The trucking industry is moving at a pace faster than most could have imagined a little over a decade ago. This has given way to an arms race of sorts, as companies push for the latest in FreightTech to gain an advantage in the ever-changing market.

The competitive nature of this industry has greatly compressed margins. Factors wanting a competitive edge are looking internally at the back office to maximize efficiency, but playing...

https://www.freightwaves.com/news/4-reasons-why-factors-turn-to-triumphpay

Automation needed to navigate ‘new normal’

By Keith Beckman, SVP of corporate development and strategic planning at TriumphPay

It’s true, you’re only as strong as your weakest link. Even the smallest inefficiencies can profoundly disrupt shipments, which sets off ripple effects that ultimately reach the end consumer, the most visible part of the supply chain.

It goes without saying that logistics issues have dominated headlines across mainstream news outlets as of late. As bottlenecks continue to stretch thin shippers’ abilities to keep...

https://www.freightwaves.com/news/automation-needed-to-navigate-new-normal

How Walmart solved carrier payment woes in Canada with blockchain

Trucks in front of a Walmart facility. Walmart Canada says a blockchain payment platform had dramatically reduced invoice disputes.

Before Walmart Canada deployed blockchain technology to pay trucking companies, the company and its carriers were often bogged down by invoice disputes. Up to 70% of invoices had some sort of issue where numbers didn’t align with company expectations. 

The results were not good. Walmart personnel would lose time sorting out the long list of charges that go into each load. Meanwhile, payments to carriers were delayed. 

“Life was a bit rough in terms of processing payments,” recalled Francis...

https://s29755.pcdn.co/news/how-walmart-solved-canada-carrier-payment-woes-with-blockchain