Days to pay is a common problem for companies. How soon are carriers paid? What about shippers? Invoice processing and payment is a tedious, time-consuming process that is a necessary evil. Carriers want to be paid immediately and most shippers will pay eventually. Issues arise, extra charges appear on invoices and collections are a nightmare.
A major attraction of FreightWaves’ The Future of Supply Chain live event in Northwest Arkansas on May 9-10 will be the 7-minute live demos. Here’s a preview of one of those demos.
As 3PLs, freight brokers and shippers are looking for ways to streamline workflows and increase efficiencies, it becomes imperative that the right tools are in place to actually help. Extra time should be spent growing the business and moving freight, not chasing down an ACH payment or a lost check sent to a carrier.
Company: Axle Payments
Demo product: Axle Payments
What it does: Axle is a payments automation and financing platform for freight and logistics.
Who needs it most: Shippers, 3PLs and freight brokers
“Axle is a payments automation and financing platform for freight and logistics. Today we’re working with freight brokers and handling all of their collections, lending, carrier payments and accounting, keeping those freight brokers doing what they do best: brokering freight. We’ve taken off since starting Axle in 2018 and grew 5x last year, and by the looks of Q1 we’re keeping that pace in 2022!” — Axle Payments
Axle works best with great partnerships with TMS and accounting systems designed to fit into clients’ workflows, helping to automate the back office. Axle has options for pure factoring, nonrecourse factoring and payment processing.
Key to a 7-minute pitch: “This past year, we’ve built a comprehensive suite of services/products, so we can really be their one-stop payments solution. Unfortunately, with 7 minutes we won’t have time to show all of these products, so we’re going to focus on just our core products and our user-friendly interface that, most simply, makes our clients’ lives easier.” — Axle Payments