RXO and Triumph Launch Innovative Solutions for Carriers
Innovative Solutions for Carriers from RXO
In a strategic enhancement of their partnership, RXO, a prominent player in asset-light transportation solutions, and Triumph, a renowned financial technology provider, have announced exciting new financial tools aimed at supporting carriers in the freight industry. The collaboration emphasizes providing simplified and efficient processes for payments, allowing carriers to focus more on their operations and profitability.
Introducing RXO Extra | Factoring
At the core of this collaboration is the launch of RXO Extra | Factoring, a state-of-the-art service powered by Triumph. This offering features Factoring as a Service™ and LoadPay™, which represent Triumph’s efforts in streamlining financial transactions for carriers. Notably, these services are available to all carriers, regardless of whether they transport freight for RXO.
24/7 Access to Payments
The Factoring as a Service includes advanced features that allow carriers to receive payments promptly, including options for same-day payments on approved invoices. This round-the-clock availability ensures that carriers can manage their cash flow more efficiently, helping them sustain their operations without delay.
Enhancing Carrier Profitability
Lou Amo, president of RXO’s truck brokerage business, articulated the importance of this initiative. He emphasized that the expanded relationship with Triumph is geared towards improving carriers' efficiency and profitability. In a fast-paced industry, the ability to get paid swiftly by RXO and other freight providers is invaluable for ensuring financial health.
What is Factoring as a Service?
Factoring as a Service (FaaS) is a white-labeled solution from Triumph that allows brokers to offer tailored factoring and payment services directly to carriers. This innovative solution incorporates Triumph’s powerful funding and technological infrastructure, enabling brokers to facilitate better cash flow and deepen their relationships with carriers. Furthermore, LoadPay stands as Triumph's digital banking solution tailored for carriers, allowing them to receive payments in a fraction of the time traditionally expected.
Details on RXO Extra Loyalty Program
Part of RXO Extra™, the loyalty program for carriers, the RXO Extra | Factoring initiative encourages carriers to engage with RXO for their transportation needs. By participating actively, carriers can ascend through different loyalty tiers which unlock numerous savings and bonuses. Additionally, the program enhances savings on essential services like fuel and maintenance.
A Commitment to the Carrier Community
Aaron P. Graft, founder and CEO of Triumph, expressed pride in this renewed partnership and highlighted its significance in supporting the carrier community. He pointed out that providing tools that simplify operations is crucial for the industry and helps carriers transact with confidence and ease.
RXO and Triumph - A Bright Future Together
The partnership between RXO and Triumph illustrates a dedication to advancing financial solutions for the transportation industry. As RXO continues to innovate and develop its offerings, carriers can anticipate a suite of services built around their needs, encouraging a more streamlined, efficient experience within the market.
Frequently Asked Questions
What is RXO Extra | Factoring?
RXO Extra | Factoring is a financial service that provides carriers with quick access to payments and factoring solutions through RXO and Triumph's partnership.
How does FaaS benefit carriers?
Factoring as a Service allows carriers to receive swift payments while enhancing their cash flow, thus helping them manage operational expenses efficiently.
Can all carriers access RXO Extra | Factoring?
Yes, the services are available to all carriers, even those who do not haul for RXO.
What advantages does the RXO Extra loyalty program offer?
The RXO Extra loyalty program provides savings, bonuses, and discounts on fuel and maintenance to carriers based on their engagement level.
How can carriers learn more about RXO Extra | Factoring?
Carriers are encouraged to reach out to RXO through their platform to gain insights and information on how to utilize RXO Extra | Factoring effectively.
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