Payment platform manages carriers’ back-office processes
by: Grace Sharkey – June 30, 2021
Christian Lee, the newly appointed CFO of Transfix, says it’s important to build a resilient environment not only for shippers but for carrier partners as well.
“Working with Transfix has to be an experience that’s better for carriers and it has to allow them to both make more money but in a way that is more sustainable for them,” Lee told FreightWaves. “It is the DNA of the company that this wasn’t going to work unless it worked for carriers.”
Transfix, a transportation solutions provider, backed this up with its announcement Wednesday that it is partnering with carrier payment platform TriumphPay.
TriumphPay, a division of Triumph Bancorp (NASDAQ:TBK), works with carriers to create a seamless process of obtaining load paperwork, processing and billing their shipping partners.
With its newest acquisition of Hubtran, a cloud-based automation software for the transportation industry, carriers have grown to trust TriumphPay to manage and automate their accounting and back-office needs efficiently with its number of integrations with factoring companies and freight brokers.
Under the new partnerships, the tens of thousands of carriers within Transfix’s network will be able to submit invoices to the company, upload paperwork and view the status of their payments within one online platform.
The partnership will also allow Transfix to continue to grow its carrier network, onboarding carriers within the TriumphPay network without the carrier having to change its current invoice process.
“We are delighted to be partnering with Transfix to enhance carriers’ payment needs,” said Jordan Graft, the executive vice president of TriumphPay, in the release. “By working closely with the Transfix team, we’re now offering carriers a hassle-free way to receive instant payment status updates at their fingertips.”
