Load board vendor Truckstop.com will integrate its LoadPay secure payment platform with McLeod Software Corp.'s transportation management software, the companies announced Sept. 13.
The integration is the latest move by New Plymouth, Idaho-based Truckstop.com to gain market share by adding features to its system for matching freight with trucks on the truckload spot market.
By integrating its LoadPay system with Birmingham, Ala.-based McLeod's software platform, Truckstop.com allows carriers to improve their cash flow, gain visibility into upcoming payments, schedule automated payments, and use a secure payment platform that reduces fraud, the companies said.
"LoadPay strives to wipe out payment inefficiencies, while McLeod provides automation to do the same with inefficiencies in freight management," LoadPay General Manager Farid Zaffar said in a statement.
McLeod's software products provide transportation dispatch, accounting, operations, and brokerage management software and document-management systems. Adding Truckstop.com's LoadPay complements those functions by eliminating the need for shippers and logistics providers to ask carriers for banking information, reducing financial risk for all, the companies said.
Originally simple, paper-based spreadsheets, load boards from Truckstop.com and rival vendor DAT Solutions LLC have grown in recent years to add complex capabilities such as real-time visibility over the entire U.S. truckload network, transportation management systems (TMS) functions, and the ability to post, book, and accept loads from anywhere over a handheld mobile device.