Aljex Software announced integration with Triumph Business Capital to provide two new working capital services. Aljex provides internet-based transportation management software for brokers, carriers, and third-party logistics providers.
Triumph Business Capital provides financial services to the logistics market. The two new products integrated into Aljex include TriumphPay and Accounts Receivable Factoring. TriumphPay factors individual invoices at the broker’s discretion. Accounts Receivable Factoring, a subscription service available for brokers, factors all invoices.
“This integration fundamentally changes brokerage for the better,” said Aljex CEO Tom Heine. “Brokers using Triumph in Aljex now have unlimited access to capital, allowing smaller brokers to compete with the big brokers.”
TriumphPay is a web-based payment processing portal that allows brokers to pay carriers quickly without having large sums of cash on hand, the company said. After a load is complete in Aljex, the broker can designate that the invoice is approved for payment, at which time Triumph purchases the invoice from the broker and pays the carrier.
Accounts Receivable Factoring is a program of debt-free financing for invoices. Every time a load is complete in Aljex, supporting documentation is automatically sent to Triumph, which purchases the invoice and remits funds to the broker.
Steve Hausman, president and CEO of Triumph describes the partnership as a culmination of a long-term engagement. “We’ve been working with the Aljex team on various projects for the past five years,” he said. “The common theme has been to bring value to the broker-carrier relationship by utilizing applied technology to remove time, waste, and cost from the payment process,” he said. “From our perspective, it’s all about getting paid. The partnership with Aljex allows us to provide that funding in an easy and cost-effective model for all parties involved.”