Logistics technology and transportation management services provider Transplace has announced their new Pay On-Demand program for carriers. The new service will provide accelerated cash flow as carriers will be paid as soon as invoices are improved, the company said.
The process is fully automated through a corporate purchase card. Transplace does not assess fees for participation in the program, and provides carriers with a credit card number to keep on file. Funds are then deposited into the carrier's account within 24 hours of the card being charged.
“We're pushing the frontier of purchase card use,” said Steve Crowther, CFO of Transplace. “Not only are we offering accelerated cash flow for our carriers, but we've structured this program with a purchasing card so there is no adverse impact on our own cash flow. This provides the best possible scenario for our carriers and Transplace.”
