Transportation management system (TMS) company Axele will be doing a new strategic partnership with Apex Capital, integrating its TMS with Apex’s freight factoring solution, a press release said Wednesday (April 28).
By performing this integration, small to medium-sized carriers will be able to boost cash flow while also saving time on accounting, the release said.
The integration will make it so that carriers using Axele will now be able to connect directly with Apex Capital accounts, without leaving the TMS. The connection allows carriers to sync Axele and Apex customers with one click, shoot invoice details and supporting documents to the Apex billing portal in seconds, create Apex invoices with all the necessary information, and display invoice status as the process goes on.
“Small to midsized carriers often work with tight margins; factoring will help them to maintain a consistent cash flow with quicker payments allowing the carriers to haul more loads,” said Ryan Camacho, director of Strategy and Business Development, Axele. “This partnership means our customers will be able to grow their businesses faster.”
“We’re excited to partner with Axele to help our mutual clients run their businesses smarter and more efficiently,” said Josh Lambert, director of Product Delivery, Apex Capital. “This integration is slick and passing factoring information so effortlessly between the TMS and Apex benefits everyone involved.”
PYMNTS noted that small and medium-sized businesses (SMBs) have around a $1.5 trillion gap in the area of trade finance. Because of that, an injection of capital is needed at some point to help the supply chain stay healthy and flowing.
One threat can come from trade finance fraud as well, in which the paper-based and manual nature of the operations leave open holes for scammers.
Selected by EFXA