DALLAS–(BUSINESS WIRE)–#BankofAmerica—Transplace, a leading provider of transportation management services and logistics technology solutions, today announced continued improvements in speed, security, and accuracy of payment processing for the growing base of more than 32,000 carriers with which it does business directly or on behalf of its shipper customers. Transplace has been working with TriumphPay and Bank of America’s Paymode-X® Connect solutions to deliver faster and more reliable, accurate and secure payment processing. These changes come on the heels of Moody’s Investors Service having recently upgraded Transplace’s ratings in several key areas. Moody’s Investors Service is a leading provider of credit ratings, research, and risk analysis, and they cited Transplace’s good execution and steady earnings growth for the credit rating upgrade.
“We realize that a fast, seamless, and unified digital payment experience goes a long way in helping our carrier partners drive operational efficiencies and cash flow, which is critical to their cash intensive businesses,” said Frank McGuigan, CEO, Transplace. “Integrating best-in-class tools and technology, like TriumphPay and Paymode-X® Connect, into our logistics platform to simplify and expedite our payment processing capabilities provides our valued carriers with more flexible, reliable, and secure payment options.”
The benefits are clear: carriers who enroll in either of these programs will get multiple, immediate paybacks:
Visibility: On-line portal access to electronic remittance detail via email or a custom accounts receivable file.
Control: Advance notification of payments via email to help forecast cash flow.
Cost Savings: A reduction in the labor, expense, and risk associated with receiving payments.
Carriers are applauding Transplace’s advancements in leveraging these state-of-the-art digital payment solutions. “Leonard’s Express is thrilled Transplace continues to work closely with carriers like us to drive improvements such as the introduction of digital payment platforms. The announcement illustrates that Transplace continues to lay the foundation to make it easy for us to do business with them,” said Mike Riccio, CMO, Leonard’s Express. “Efficient, automated execution, system driven freight audit and payment, improved financial analytics and dashboards all contribute to faster, more reliable, and less costly administration.”
To learn more about Transplace’s logistics technology or services, visit transplace.com/transplace-contact.
TriumphPay is offered through an operating subsidiary of TBK Bank, SSB (Member FDIC). TBK Bank, SSB is a subsidiary of Triumph Bancorp, Inc. (Nasdaq: TBK), a financial holding company with a diversified line of community banking and commercial activities.
Transplace is the leading provider of transportation management services and logistics technology, helping manufacturers, retailers and distributors optimize supply chain operations and increase financial performance. Offering a complete suite of transportation management, strategic capacity, and cross-border & global trade services, Transplace’s customizable logistics solutions and best-in-class technology gives businesses greater control of their transportation operations and enhanced visibility of shipments and overall supply chain performance. With deep expertise in key vertical markets, including consumer packaged goods, manufacturing, retail and chemicals, Transplace works to strategically design and manage customer networks in the most efficient, cost-effective manner. As North America’s largest transportation management provider, Transplace leverages its entire network to solve large-scale, complex supply chain problems for its customers. From small-to-medium businesses to global brands, Transplace delivers the optimal blend of actionable business intelligence and operational excellence you need to manage your supply chain with certainty. Learn more at www.transplace.com.