We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
Home » Trax and Raistone Partner to Create Working Capital Innovations for Carriers and Shippers
Press releases are provided by companies as is and have not been edited or checked for accuracy. Any queries should be directed to the company issuing the release.

Upload your press release

Trax and Raistone Partner to Create Working Capital Innovations for Carriers and Shippers

Trax and Raistone Partner to Create Working Capital Innovations  for Carriers and Shippers
February 18, 2022
No Comments

Trax Technologies (Trax), the global leader in Transportation Spend Management (TSM) solutions, and Raistone Capital (Raistone), a world-leading fintech company today announced a joint solution designed to create improved cash flow for carriers and extended working capital for shippers.

Through the partnership, Trax customers can now obtain extended payment terms up to 150 days beyond the invoice due date, while Trax makes payments to their carrier partners on time, with no additional costs to carriers. As a result, carrier on-time payment needs are met, while internal working capital mandates are sufficient for the enterprise shipper.

Trax President Josh Bouk and Raistone CEO Dave Skirzenski will host “Achieve 100% Carrier Adoption: Working Capital Innovations in Transportation” on Wed., Feb. 23, 11 a.m. EST. Registration is open for participants who want to learn about debt-free working capital, improved shipper-carrier relations and increased carrier loyalty.

"Most of our enterprise customers already use various forms of supply chain finance to manage working capital. However, most of these programs struggle to address the global logistics spend, which is increasing to an average of 7-9% of cost of goods sold," said Bouk. "Through this exciting partnership with Raistone, we can now help our customers expand their working capital programs and improve the cash flow of both shipper and carrier."

In today’s global transportation logistics environment, carriers operating a cash-intensive business need faster payment terms from their shipper partners. Conversely, enterprise logistics teams need to improve corporate cash flow and access to working capital by driving extended payment terms on transportation services.

"'Buy Now, Pay Later' has been an unparalleled success with consumers, and it's time for the same funding flexibility to be extended to all businesses, including freight services," said Skirzenski. "Together with Trax, Raistone is focused on providing much-needed working capital to an essential component of the global supply chain. Our solutions ensure ease and speed of access to finance, which is now more essential than ever to address ongoing supply-chain bottlenecks."

The combination of Trax Transportation Spend Management with Raistone’s working capital solutions help both shippers and carriers to meet their working capital needs. Through this partnership, Trax now offers the ability for both shippers and carriers to take advantage of certified transportation invoices and flexible payment terms without the impact to their balance sheets.

Trax is elevating freight audit and payment (FAP) through advanced technologies and premium solutions for global shippers and logistics service providers (LSPs) with complex transportation logistics ecosystems. Raistone provides working capital and leverages cutting-edge technology to connect a marketplace of buyers, suppliers, business-to-business platforms and financial institutions.

https://www.traxtech.com/
Submit your logistics, material handling, or supply chain related company news in DC VELOCITY's Industry Press Room section or New Products section
Transportation Technology Supply Chain Services
  • Related Articles

    Trax and Truckstop.com Partner to Boost Shipper-Carrier Relationships with Visibility Insights

    Circle Logistics Partners with MyCarrierPackets to Expedite New Carriers for Network of Shippers

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Survey: top supply chain risk of 2023 is semiconductor shortage

  • Big and bulky last-mile delivery segment set for hot growth

  • Outlook 2023: What’s in store for logistics/supply chain?

  • Ports, maritime operators see tide turning as ocean freight tsunami subsides

  • In Person: Steve Beverly of Penske

Now Playing on DCV-TV

89cfed30 8aac 4284 960d c8c8c1886e16

Have you checked your read rate lately?

DCV-TV 4: Viewer Contributed
No reads. Unaccounted for boxes. Boxes sent to the wrong place. A logistics nightmare! But this nightmare doesn’t have to come true. SICK’s linear line scan camera is what dreams are made of for your logistics operations. And if you’re worried about motion and vibration from conveyor belts...well, there’s no reason...

FEATURED WHITE PAPERS

  • The five best applications for robotic lift trucks in warehouse environments

  • Fulfillment Facility Improved Efficiencies by 4x

  • 3PLs: Complete Orders Faster with Flexible Automation

  • Reusable Packaging for the New Wave of Supply Chain Automation

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing