Transportation Spend Management
Business Intelligence and Transportation Spend Management Excellence in the Form of Logistics Insights, Process Efficiency, and Cost Reduction.
TraxPays, including TraxPays+, is an invoice payment automation service that ensures efficient and timely payments to your carriers, reduces the workload for your internal teams, improves relationships with carriers, and helps you manage cash flow through invoice payment acceleration and DPO extension.
Eliminate back office frustrations, repetitive payment investigations, and endless paperwork. Turn thousands of transportation payments into an easy to manage payment process without the loss of visibility or reporting that you need to run your business.
Drive loyalty with your carriers by offering payment options that meet their needs with an automated payment solution that carriers can trust.
Trax provides full transparency and maintains a strong financial position and internal controls to protect the assets and data of our customers. Our partnership with AvidXchange, the payment automation expert, brings financial institution regulation and confidence.
Supply chain financing solutions that offer early payments for carriers and Days Payable Outstanding (DPO) extension options for shippers.
Transportation payments pose operational and strategic challenges for both shippers and carriers - just different challenges - like different sides of the same coin. With TraxPays, transportation invoice payment processes become automated and more secure making the job of paying your carriers much easier. With TraxPays+ carriers are paid faster and easier while shippers enjoy extended payment terms and efficient processes. This ensures both operational and strategic advantages for both shippers and carriers.
TraxPays is offered in partnership with AvidXchange the world's leading AP automation solution provider. Avidxchange processes over 140 billion transactions annually over nearly 700,000 different companies. As a highly regulated company in the financial industry, Avid and Trax take cybersecurity, data protection, and our fiduciary responsibility very seriously. We have achieved numerous security certifications such as SOC1 Type 2, various ISO certifications, and PCI DSS. As a result, shippers and carriers can trust Trax to execute on time payments responsibly and safely every time.
With TraxPays, the shipper funds one payment to cover all carrier liabilities but receives detailed remittance reporting on all carrier payments. When combined with Trax's advanced Transportation Spend Management analytics, real-time visibility to all transportation spend is easily achieved. While Trax manages payment disputes on your behalf you maintain a full line of sight to the status of your carrier's payments.
TraxPays offers your carriers options for how they choose to be paid. Carriers can choose between a virtual card payment solution, an enhanced direct deposit, or standard checks. The virtual card option increases the speed of payment and decreases the work for carriers to process it. By offering carriers payment options shippers can be confident that carriers are happy and are able to receive payments in whatever manner they prefer.
Trax offers financing for carriers and shippers through our TraxPays program, known as TraxPays+. This program offers both shippers and carriers the ability to improve their cash flow and working capital while also creating a more efficient and loyal relationship between them.
For carriers who elect to enroll in TraxPays+, they can choose to have their invoices paid earlier than the terms stipulated in their contracts with shippers. As a result, this creates more cash flow for carriers operating in a very expensive environment. For shippers who elect to enroll in TraxPays+, Trax offers the ability to pay invoices on time while funding those invoices 45-90 days past the invoice due date. This dramatically increases a shipper's days payable outstanding (DPO) and their working capital.
Logistics management is a complex practice, compounded further by the tens of thousands of payments to carriers any given shipper has to deal with every year. We at Trax make logistics management elegantly simple, and that also goes for payments through our TraxPays service. TraxPays is an invoice payment service that ensures efficient and timely payments to your carrier, reduces the workload for your internal accounts payable team, improves relationships with carriers, and shifts payment reconciliation to Trax. TraxPays is specifically designed to support your cash management objectives.