Automation Needed to Navigate 'New Normal'

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By Keith Beckman, SVP of corporate development and strategic planning at TriumphPay

It's true, you're only as strong as your weakest link. Even the smallest inefficiencies can profoundly disrupt shipments, which sets off ripple effects that ultimately reach the end consumer, the most visible part of the supply chain.

It goes without saying that logistics issues have dominated headlines across mainstream news outlets as of late. As bottlenecks continue to stretch thin shippers' abilities to keep pace with elevated demand amid capacity constraints, the last thing shippers need is for back-office issues to arise.

However, this is unfortunately the case for many shippers that continue to handle carrier payments and other tedious tasks manually, leaving many with lost time, revenue and patience. 

What's more, the rise of e-commerce shopping coupled with an increased demand for final-mile services has unceremoniously introduced a new era of supply chain management, thus raising expectations for faster delivery while providing even less room for error.

So how can you realistically do more with less? The answer to this question is that you can't, and you shouldn't be expected to either. The only way to find success in this environment is to do more by doing less.

Shippers have done just that. They're no longer spinning their wheels and are now gaining traction while leaving the back-office kinks to the experts.

The payment discrepancies that constantly constrain post-load activities can be eliminated with a trusted partner in supply chain finance. TriumphPay takes the friction out of carrier payments through automation, making auditing processes more efficient for brokerages and factoring companies.

Automation has become the key ingredient to success in this industry, but many see this breakthrough as reserved only for the most innovative shippers and brokers. It's true that automation has already been adopted by industry leaders, but TriumphPay is for everyone. 

In fact, TriumphPay has processed over 450,000 payments for carriers in the past year alone and processed more than $17 billion in annualized brokered freight payments. Our efficient payment experience has TriumphPay's partners finding it easier to remain shippers of choice among their carrier clients. This is because automation provides shippers the freedom to focus solely on profitability and ways to strengthen carrier relationships instead of wasting away in the weeds of the back office.

It simply comes down to finding the right technology partner to process your payments and back-office transactions. With TriumphPay, our technology becomes an extension of your company, equipping your workforce to take on new challenges without feeling overwhelmed or worried about falling behind on payments.

Back-office automation is undeniably the way of the future and signifies the natural progression of what's to come for the trucking industry. With that being said, why waste any more time processing paperwork in an increasingly paperless world? 

More from TriumphPay:

No better time than now to adopt new technologies

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. The content was purely for informational purposes only and not intended to be investing advice.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. The content was purely for informational purposes only and not intended to be investing advice.