Apart from the well-known disruptions, other factors also cause substantial delays in land freight. The most menacing is the wait time for traditional payment methods.
Cross-borders, the hold-ups are mainly because of additional charges such as import fees or goods charges that are to be paid upfront. Next is the driver payout, which is often untimely and all-cash – bringing in ultimate cash-carrying trouble. If transporters receive checks but are oblivious about what it’s encashing, or the amount could not reconcile with the written, it’s again a delay.
And most drivers are severely unbanked and underserved, with limited access to formal banking or credit lines. It creates a worrying transaction problem while making any in-trip purchase at a fuel station or store. Not only for them but their fleet managers, recording these payouts is a rigorous job but of utmost importance. Manual records often lead to faulty bookkeeping and affect the to-do payments, irking drivers too much.
All these legacy payment styles clog the entire trade flow and eventually worsen it to get the shipment to a business or warehouse. But, using a pure-play digital platform, the shipper can go into the system, pick the transporter, enter the lading number, input the payable, and hit a button.
Picture this: a digital freight platform capable of empowering all freight professionals with modernized daily financial operations. A set of advanced tools allowing all parties to streamline their freight requirements and integrate the associated payments from one platform. Our TruKKer platform enables a wide spectrum of control for all freight and finance operations that offers a single-pane-of-glass view to all. And everything becomes streamlined, more defined – eventually speeding up the whole process with a faster turnaround and impressive success rates.
On the other hand, transporters like the efficiencies of getting paid and acquiring the related data quickly. Shippers or businesses also lean on being able to track all their carriers/fleets and payments in one place. Imagine – how the trade flow will smoothen, and items will reach users seamlessly. The whole process of making payments and then authorizing them — boils down to a less-than-a-minute process. These systems employ heavy automation and frictionlessly integrate with the carriers and merchants. It’s all digital – all that’s required is the correct invoice, the correct amount, the reconciliation of all that data — and very little manual input.