Trax, Truckstop Team on Supply Chain Management
Trax, which helps businesses manage their shipping expenses, and Truckstop.com, which operates a marketplace for shippers and businesses with items to move, announced a new collaboration on Wednesday (June 22) that they say will will help shippers, brokers and carriers work with each. other more efficiently.
Trax gives shippers visibility into the performance and cost of carrier services, while Truckstop provides carriers with integration technology and legal compliance by lane, carrier and region.
By working together, the companies aim to provide supply chain insights that should iron out issues in shipper-carrier relationships.
“Visibility into fare selection is key and making on-time payments and having working capital are key to maintaining good business relationships,” said Chris Cassidy, executive vice president of global sales and strategic partnerships. at Trax. “One of the goals of this partnership is to create value for shippers and carriers with joint solutions that improve carrier onboarding and rate management selection efficiency by accessing data in real time. real on market rates for full loads.
Trax operates in North America, Latin America, Asia and Europe. Trax states on its website that it has 64,000 active accounts managed through seven offices and helps with 8 million loads per year.
In February, Trax reached an agreement that allows the company to offer extended payment on invoices owed to it.
Read more: Shippers and Carriers Find Common Ground with BNPL Solution
Building on the consumer trend of buy now, pay later, the company’s offer is designed to create expanded working capital for shippers – businesses trying to distribute something – and improve cash flow for carriers or businesses that transport the products.
“Buy now, pay later” Josh BoukPresident and Chief Revenue Officer at Traxsaid PYMNTS. “What this program does is, by using a buy it now, pay later strategy that aligns with the DPO’s internal goals, all it does is create a service that says “Yes, you can buy it now, Trax will pay for it”…and then you can pay us back according to your DPO goals,” Bouk said.