About:
Trinity Logistics offers people-centric freight solutions. Its mission is to deliver creative logistics solutions through a dynamic mix of human ingenuity and innovative technology, enriching the lives of those it serves. For 40 years, it has arranged freight for businesses of all sizes in truckload, less-than-truckload (LTL), warehousing, intermodal, drayage, expedited, international, and technology solutions. It is recognized in the Top 20 freight brokerages on Transport Topics’ Top 100 Freight Brokerage List.
The Challenge:
Trinity Logistics experienced an influx of inbound calls from factoring companies inquiring about payment status. Call volume increased by one-third and internal resources were strained. They also experienced a lag in their accounting process and bank reconciliation turn times. Additional challenges included writing checks, using capital to fund QuickPays, and managing factor notices, highlighting additional inefficiencies. Although offering an in-house payment portal, Trinity Logistics experienced a low carrier adoption rate.
“The entire integrations experience, and everything you did for Trinity, was absolutely fantastic.”
DOUG POTVIN
—
CFO, TRINITY LOGISTICS
The Action:
Trinity Logistics recognized the need to create a more efficient back-end administration process. They turned to TriumphPay for assistance with lowering call volume for inquires on payment status, to reduce costs associated with printing and mailing checks, and to create a centralized, efficient process, allowing Trinity Financial to focus on revenue-generating activities.
The Results:
By partnering with TriumphPay, Trinity Logistics saw an almost immediate 35% reduction of inbound calls inquiring about payment status. They eliminated back-end costs for printing and mailing checks, and saved on ACH fees by transitioning their accounts payable teams to TMS, sending invoices automatically to TriumphPay for payment.
Trinity Financial benefited TriumphPay’s ability to extend capital funds to QuickPay, allowing the business to focus on other growth opportunities. Their carriers liked the security and flexibility of QuickPay because it gave them better control of their cash flow, allowing carries to get paid faster than standard payment terms – leading to an impressive 99% carrier adoption rate of QuickPay from TriumphPay.
The TriumphPay portal provided Trinity Logistics solutions that quickly improved back-end efficiencies and provided carriers with the ability to manage their payments, submit their load documents and see their invoice status faster and more securely – increasing productivity and improving cash flow.
