TAMPA, Fla.—Transflo introduced Velocity+, a suite of cloud-based business applications for freight brokers and 3PLs that integrates the management of load tenders, shipping documents, digital data extraction, load visibility, invoicing, and expedited payment processing while leveraging Transflo Mobile+, the most widely used enterprise mobility and workday management platform among truck fleets and their drivers.
“Velocity+ delivers the digital experience that freight brokers and 3PLs expect,” said Parker McCrary, Vice President of Supply Chain Solutions. “It’s an end-to-end business management solution for 3PLs and brokers that want to optimize staff resources, improve cashflow, make data-driven decisions, eliminate paperwork, and establish stronger digital ties with their shippers, carriers, drivers, and their own back office.”
Expanded Features for Freight Brokers
Velocity+ is for brokerage operations of all sizes. It can be integrated with any ERP or TMS and performs seamlessly with the Transflo ecosystem. With a network of 60,000 carriers and more than 1.5 million downloads, the Transflo Mobile+ app is the trucking industry’s preferred mobile platform for managing loads, HOS records, documents, payroll, and more.
“A broker or 3PL with Velocity+ immediately becomes part of that ecosystem,” says McCrary. “Carriers and drivers are looking for brokers who are easier to do business with, and the ability to leverage Transflo Mobile makes Velocity+ a huge competitive advantage.”
Velocity+ has features that allow brokers and 3PLs to quickly and accurately exchange a wide range of vital information with carriers and drivers:
- Quick Pay: Through an integration with TriumphPay, Velocity+ helps brokers build carrier loyalty by allowing carriers to optimize their cash flow with flexible payment terms through a better carrier payment experience.
- Payment Processing: Velocity+ eliminates back-office work and optimizes cash flow. It supports Quick Pay, so brokers can pay carriers faster than the normal pay cycle for a discount.
- Load Tender: Velocity+ sends shipment details to the carrier and driver automatically, so information about the load reaches the driver on a mobile device without requiring a phone call.
- Auto Invoice: Automated invoice workflows make it easy to generate and distribute invoices quickly and with the right supporting documents. Velocity+ can also automate the validation of receipts for lumper services, accessorial fees, and other chargeable expenses.
- Data Extraction: Velocity+ uses OCR to verify different types of trip documents, extract the data, and reconcile shipment details with shipment documentation. Transflo has OCR experience that is backed by processing 500 million documents annually and a team of document processors that can handle OCR exceptions.
- Load Visibility: Velocity+ enables real-time load tracking and allows the broker/3PL to provide status updates and push driver confirmations on pick-up and delivery straight to the customer.
- Document Capture: Brokers/3PLs can receive, digitize, and electronically catalog carrier documents in their TMS using one consistent format. The result is speedier cash flow through decreased billing timeframes and DSO (days sales outstanding).
McCrary added that Transflo can customize the Transflo Mobile+ app to provide a driver interface that mirrors the 3PL/broker’s own app or digital experience.
“Velocity+ embodies Transflo’s continuing commitment to brokers and 3PLs, who are the center of the freight transaction,” McCrary said. “We entered into this market five years ago, and since then have built integrated services that continue to deliver transparency and drive efficiency. We believe the broker industry has additional needs and that the Transflo infrastructure is well positioned to address them.”
Transflo highlighted Velocity+ earlier this year at TIA2019, the annual conference of the Transportation Intermediaries Association.
Transflo® from Pegasus TransTech is a leading mobile, telematics, and business process automation provider to the transportation industry in the United States and Canada. Transflo’s mobile and cloud-based technologies delivers real-time communications to fleets, brokers, 3PLs and commercial vehicle drivers, and digitize 500 million shipping documents a year, representing approximately $54 billion in freight bills. Organizations throughout the Transflo client and partner network use the solution suite to increase efficiency, improve cash flow and reduce costs. Headquartered in Tampa, Florida, USA, Transflo is setting the pace for innovation in transportation software. For more information, visit www.transflo.com.
TriumphPay is a leading provider of carrier and vendor payment solutions to the supply chain industry. Its integrated supply chain finance solution allows brokers and shippers to reduce the amount of capital invested in their QuickPay program. TriumphPay is a product of Advance Business Capital, an operating subsidiary of TBK Bank, SSB (Member FDIC). TBK Bank, SSB is a subsidiary of Triumph Bancorp, Inc. (Nasdaq: TBK), a financial holding company with a diversified line of community banking and commercial activities.