The for-hire truckload market in the U.S. will be approximately 250 million loads this year. The average invoice size we are seeing in January 2022 is well over $2,000, which is the highest we have ever seen.
Margins are as high as they have ever been in the trucking industry, but tailwinds inevitably become headwinds. One headwind is finding staff to stay up with the industry’s growth.
TriumphPay handles approximately 18,000 calls and emails per week on behalf of our clients. We process approximate 28,000 notifications of assignment per day. For brokers and shippers, that shifts a material workload onto us to free your team up to do other things.
We estimate the average friction cost for payors and payees combined to be approximately $20 per invoice – this includes the staff and systems required to present, audit, and pay the invoice and handle cash application after the fact.
TriumphPay uses structured data to materially reduce costs and time for everyone – shippers, brokers, factors, and carriers. If we can save the industry 50% of its current cost structure per invoice, that’s a win for everyone. Join us!
