May 11, 2020 Update:
Trinity Logistics, Inc., is pleased to announce that until September 1, 2020, we will be reducing our Quick Pay fee from 2% (just announced) to 1.5%. Trinity wishes to put more of your hard-earned money back into your pockets. We believe this rate without any additional fees (as normally charged by a factor company) is significantly less than your presently factored invoices (if your factored). You can work directly with the great folks at Triumph Pay to determine how you can remove your Trinity’s invoices from the current factored arrangement. Trinity is looking forward to bringing these savings to our valued motor carriers.
In the midst of this unprecedented time, we recognize the struggles that our dedicated carriers are faced with, which is why beginning May 26, 2020, Trinity Logistics will be permanently reducing our QuickPay fees and making the move to the TriumphPay platform. TriumphPay is a leading provider of carrier and vendor payment solutions. This will drive efficiencies for Trinity and offer a better payment experience to our carriers.
Trinity has been working alongside Triumph and their factoring division for years, as carriers have utilized their payment services.
“Jordan Graft has been our long-term contact at Triumph”, says Doug Potvin, CFO of Trinity Logistics. “One of our largest problems was tackling the amount of time spent on phone calls with our factors. I had recently seen Jordan at a FreightWaves conference and his presentation on TriumphPay. I called him up and asked him, how can we reduce our phone calls from Triumph Business Capital? Jordan, on a Friday, offered to come up the very next Monday and presented TriumphPay’s benefit to Trinity and our carriers. It was an easy decision to move forward with TriumphPay, especially with our existing relationship with Jordan.”
TriumphPay will be a benefit to Trinity by advancing our back-office support and driving efficiencies. By reducing our amount of calls from factors, it opens up our time to offer more customer service with each phone call. Our customer service team will have more time to call to follow up with our dedicated carriers to retrieve missing documentation in order to quickly resolve any billing issues to get the carriers paid on time.
Trinity Logistics, Inc., in light of the COVID-19 pandemic and the pressure it puts on to the supply chain, has made a conscious decision to improve and decrease the cost of our QuickPay Program. Trinity is reducing our QuickPay fee from 3 percent in 3 days and 2 percent in 10 days to 2 percent (1.5 percent until September 1, 2020) in 2 days once processed through TriumphPay. Trinity’s QuickPay program reduction will continue long after the supply chain returns to a degree normalcy. Since the TriumphPay platform is utilized by numerous brokers, this means carriers will have opportunity to not only manage payments from Trinity but from others. The TriumphPay portal is easy to use and offers carriers the option of uploading paperwork and updating their QuickPay terms with each broker at any time.
“We believe this partnership will be a major catalyst in digitizing and streamlining carrier payments,” said Jordan Graft, president of TriumphPay.
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