In May 2022, Axle was lucky enough to attend The Future of Supply Chain, a premiere event hosted by FreightWaves, a leader in supply chain intelligence. The Future of Supply Chain celebrates how companies are digitally transforming the management of their supply chains and gives attendees the chance to “explore the latest technology, newest applications, trends in education and continuing evolution of the overall supply chain.”
Axle demonstrated our payment automation software at the event. In case you missed it, here’s a recap of our demo and how it went.
Live Demo Summary: Axle’s Payment Automation Software for Freight Brokers
The major attractions of FreightWaves’ The Future of Supply Chain live event are the 7-minute live demos. Here’s a recap of what we covered in ours:
We set the stage by explaining that 3PLs, freight brokers and shippers are looking for ways to streamline workflows and increase efficiencies. Because of that, they need the right tools to help. They want to spend more time growing their business and moving freight, not chasing down an ACH payment or a lost check sent to a carrier.
With that in mind, our Chief Technology Officer Shawn Vo and Head of Product Sean Smith (and an imaginary Sean Connery) hit the stage to show off how our product works.
Connect Your Network
First, they showed the audience how to connect your network. In the presentation, they showed how to add customers (shippers) to the platform. We saw that when you add a shipper, you can pull in information like invoices, collections history, and credit scores. You can also add information for contractors (carriers), such as payment information, prior transactions, factoring relationships, addresses, and more.
Our team showed how Axle is helping connect data across brokers’ businesses, empowering them to be more efficient and make smarter, data-driven decisions.
Add Your Jobs
After we added customers and contractors, we then added new jobs and showed off the fact that you can add a new job in under 30 seconds. You can also add it via a bulk import or with our API integration from our TMS partners.
Once you add a job, Axle goes to work for you. We:
- Perform document auditing to ensure payments are correct
- Invoice on our client’s behalf
- Send out carrier payments with remittances on their scheduled dates
- Perform collections when invoices come due
Throughout the lifecycle of a job, clients are also able to access financial reporting and have a fully-reconciled accounting system via our QuickBooks integration. With all of this assistance, clients report saving about 30 minutes per job versus doing the whole thing manually.
Pay and Get Paid
Next, we showed the audience how to run payments on the Axle platform. Here are some highlights:
- Carriers will receive same-day ACH payments
- Shippers will soon be able to opt into extended terms for their flexibility
- We can surface chargebacks so they can get settled so brokers’ wins don’t turn into losses
- Clients can take advantage of working capital through invoice factoring
- Soon, they will also be able to use our line of credit product
- If they have all the capital they need, we can also manage their carrier payments with Axle Wallet, our new carrier payment solution
- Clients are able to increase their revenue per load by passing along or splitting Axle’s fees with their carriers and shippers
Integrate with Your Systems
Creating a job in Axle is fast, but what’s even faster is not having to add one at all.
Our real-time API integrations will accept jobs directly from our partner TMS systems and process those jobs all the way through payment and collections. Clients really get hooked on the integration because integrating their TMS with Axle is a breeze. Our open API architecture allows us to be a hub that can integrate quickly to any TMS or accounting software, making Axle the only provider in the industry that serves as a one-stop, full-service platform.
In addition to growing our client base, we are also always looking to build strategic partnerships with new integrations. If you have any ideas or partnerships you’d like us to consider, you can submit them on our site!
Axle Wins Top Demo of the Day
We are so proud to show off our product and the Future of Supply Chain attendees agreed. We were voted as one of the three top demos on day 1 out of more than 30 companies. We are passionate about the product we’re creating here at Axle and are so honored that attendees could feel that passion, as well.
See How it Works
Our demo at Future of Supply Chain was amazing, but what’s even more amazing is seeing it for yourself. Ready to schedule your own demo? Contact our sales team directly or schedule a demo that fits your schedule.