Implementation of vendor technology expedites payment, improves carrier experience
Schneider, a premier provider of trucking, intermodal and logistics services, has implemented more options to improve the carrier experience by adding capabilities from TriumphPay, a payment processing platform for brokers and shippers, and Transflo, a leading business process automation and digital communications provider. The company’s unique ability to combine both TriumphPay’s and Transflo’s expertise on its brokerage platform dramatically accelerates transactions and expedites third-party carrier payments. Schneider’s pairing of these two tools also increases flexibility and ease of fund transfer in an industry where every minute matters.
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“We’re excited to join forces with Schneider to help them create a more streamlined and efficient experience for their valued carriers.”
“Schneider is committed to finding and implementing innovative ways that make it easier for carriers to move their trucks and manage their businesses,” said Erin Van Zeeland, group senior vice president of Schneider Logistics Services. “Introducing TriumphPay to a suite of carrier technologies that already includes Transflo helps them streamline and automate payments – saving significant time and allowing carriers to do their job more efficiently.”
Carriers who are still using traditional, paper-based methods to submit delivery paperwork know that it takes 8-10 days before shippers receive the information and begin processing payment – and up to 40 days to get paid. Schneider’s Transflo/TriumphPay pairing shrinks that timeframe to as little as two days.
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With Schneider, carriers use the Transflo application to confirm load completion and submit documents. Within seconds of receiving the information, the payment process activates. Carriers can then select their payment terms via TriumphPay, which includes QuickPay.
When using standard QuickPay options, carriers can expect to receive payment from shippers in 15-30 days; when working with a broker, they can often opt to pay a small fee to bypass this window. However, carriers are traditionally forced to choose between using this expedited option and the standard full-term payment on 100 percent of the loads they deliver.
Schneider now offers carriers the flexibility and convenience of making this choice on each individual transaction, freeing them from the rigid payment structure and costly fees associated with factoring companies. TriumphPay provides carriers full visibility into the payment status for each of the shippers they are working with, all in the same place.
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