Digital payment system optimizes invoicing, payment collections, and reimbursements
Relay Payments, an electronic payment network provider for the transportation, logistics, and supply chain industries, announced that Southeastern Freight Lines has realized 61% in monthly savings directly tied to optimized payment processing. By partnering with Relay Payments, the Less Than Truckload (LTL) carrier has improved internal protocols and eliminated the manual steps of issuing checks for accessorial fees across its 3,000-truck fleet.
Southeastern Freight Lines implemented Relay to meet operational requirements in response to customer demand. The biggest gain for the carrier is the improved ability to document and collect payables for accessorial fees. With the payment process centralized, all back-end actions related to proof of service and reconciliation are performed at Southeastern’s corporate headquarters in Columbia, SC.
Read More: Paymints.io Launches MuniPay to Simplify Property Tax Payments for Real Estate Title Agencies
“Since implementing Relay, we have improved our ability to invoice, collect payments, and track reimbursements on accessorial fees,” said Justin Self, Manager of Sales Support & Development for Southeastern.
“Relay is a game-changer. Now every time a payment is issued through Relay, our centralized team has a simple yet efficient reconciliation process. This tailored process meets both our needs and that of our customers.”
After just one week in pilot, Southeastern rolled out Relay’s payment solution across its 90-Service Center network. Relay Payments, an instant, electronic, end-to-end payment solution for carriers including four of the top 10 LTLs, shippers, and brokers, saves time processing payments, eliminates middle-of-the-night phone calls, reduces costs, and improves operational efficiency.
Read More: Octane Completes $340 Million Asset-Backed Securitization to Drive Continued Growth
“Southeastern’s motto is ‘Quality without Question,’ and that’s exactly what we wanted to deliver for them,” said Spencer Barkoff, co-founder and president of Relay Payments.
“In a time when maximizing Hours of Service is so important, it has been great working with Southeastern to increase margins by investing in improved processes. Ultimately, we made it easier for their drivers to make over-the-road payments, getting them back on the road more quickly.”
Read More: MVIS Launches the BlueStar US Listed E-Brokers and Digital Capital Markets Index
[To share your insights with us, please write to sghosh@martechseries.com]
