Transportation is Our Only Focus

  • TriumphPayand Intelligent Audit provide Freight Spend Management services to Fortune 500 and major logistics companies globally.
  • Services include freight audit, carrier payments and supply chain finance products.
  • TriumphPayand Intelligent Audit are API integrated to deliver superior visibility to freight spend, carrier performance and network optimization metrics.
  • Financing solutions allow shippers to conserve cash and improve liquidity through extended DPO while allowing carriers toget paidsoonerthan under standard payment terms.
  • TriumphPay is an operating subsidiary of TBK Bank, SSB (Nasdaq: TBK, Member FDIC).

As a regulated financial institution, TriumphPayprovides shippers with the security and safety of funds movement that is delivered only through a bank.

Freight Audit & Payment Key Processes

  • Freight Rating
  • Rate maintenance and uploading of carrier rate sheets and agreements
  • Different requirements based on mode
  • General Ledger Coding
  • Customized logic for applying freight funds to appropriate business units, cost center, etc.
  • Customer Business Rules
  • Rules for approving payments
  • Data Management
  • Cleansing data
  • Normalizing data
  • Validations
  • Systems Integration
  • TMS
  • ERP
  • Custom file feeds for accounting and finance
  • Payment Optimization
  • Pay carriers based on different business rules

Freight Payment Cost Drivers

  • Exception Management
  • General ledger coding logic issues require manual intervention to assign proper codes
  • Business rules for invoice approval like third-party shipments, accessorial charges, etc.
  • Match-pay process failures when purchase orders or bill of lading numbers do not match order file
  • Data validation failures for things like cost centers, shipping locations, etc.
  • Dispute Resolution
  • Freight invoice errors when carrier billed amount does not match rated amount
  • Payment and settlement issues when carriers are not paid according to terms
  • Payment remittance information issues which prevents carriers from properly applying cash
  • Not all carriers use web portals to address disputes so other methods must be used

New Technology & Services

  • Machine learning (ML) and artificial intelligence (AI) using Robotic Process Automation (RPA) technology to resolve disputes and minimize exceptions
  • API technology for web calls to carriers for documents like POD’s, BOL’s, W&I report, etc.
  • Web calls to customers ERP or TMS for match-pay process eliminates the need to send/receive and manage order files
  • Digitizing invoices and documents to eliminate paper and optimize workflow
  • RPA technology to capture data from invoices, supporting documents, etc.
  • Response Bots being deployed to minimize human intervention for customer service
  • Leveraging sourceorder data by sending shipment information to carriers or trading partners electronically
  • Optimizing carrier payments, pay to terms, pay electronically, which provides 100% transparency for financial safeguards
  • Web portals for more collaboration between shippers, carriers and freight payment company to resolve disputes
  • More powerful business intelligence (BI) tools that can pinpoint specific ways to reduce costs

Some New Developments

  • TMS or shipment file pickup data is now being used for invoicing by some carriers
  • LTL rate structure has more dimensional-based rating
  • Dimensional-based rating causing more re-weighs and overweight and overlength accessorial charges
  • Cost per cubic foot causes more reweighs
  • More accessorial charges for over dimensional and overlength shipments
  • With the growth in e-Comm final mile rating can me more complicated with numerous accessorial charges
  • Shippers need to review General Data Protection Regulation(GDPR) to ensure they are compliant in the European Union
  • Brexit will drastically change the landscape in customs documentation, compliance and VAT taxes