Freight Brokerage Cuts Accounting Activities in Half with Axle
Founded in July 2020 by logistics pro Anthony Curreri, Roadly Logistics LLC is a freight brokerage working to disrupt the industry by providing more transparency and superior customer service.
Curreri knows the meal kit business well, so that’s the company’s early specialty. He understands that these time-critical shipments need extra attention to ensure clean containers, proper container temperature, and on-time delivery.
“A late delivery for dry goods is different from a late delivery of refrigerated produce with an expiration date,” he says.
The Problem: Fast Growth Generated Cash Flow Problems
When the business took off quickly, Curreri soon saw that long time frames for shipper payments – typically 30 to 60 days – created cash flow problems. He needed to get paid sooner; factoring was the logical solution.
“I should have set up the business for factoring in the first place,” he notes.
A dependable factoring company can help streamline payments and keep cash flow consistent, giving a young brokerage like Roadly more stability and time to focus on business-critical tasks rather than chasing down payments. For Curreri, that meant finally cutting back on the 18-hour days required by a startup.
He wanted a broker-specific factoring company that leveraged technology, had a user-friendly portal and dashboard, and responsive customer service. He also looked for QuickBooks integration.
How Axle Helps
Curreri found Axle by searching online for factoring companies. He got a long list of options, but only a handful were broker-specific. And because he was especially interested in automating the factoring process as much as possible, Axle’s state-of-the-art portal stood out.
“A lot of the other companies I spoke to were using email to send invoices and communicate instead,” Curreri says.
Although QuickBooks integration wasn’t immediately available, Curreri knew it was coming. Axle’s impressive team of technology pros and experts, along with its rapid growth, gave him confidence that the company would deliver the new feature as promised.
Still, because he’s not a QuickBooks power-user, Curreri was a bit apprehensive about that integration when Axle introduced it. “My biggest fear was that we weren’t going to be able to set up the two systems seamlessly. We could, though, and everything’s working fine,” he says.
The Benefits of Partnering with Axle
Curreri especially appreciates how Axle helps Roadly get paid quicker and with less effort. This capability is especially important considering the brokerage’s volume—Roadly is processing more than 750 jobs a month through the system. That, in turn, supports the company’s continued growth. In addition to adding staff, the freight brokerage is exploring other niches that require extra oversight and attention to detail, such as paper.
“Paper has to be shipped in a super clean trailer, but a lot of trucks show up dirty. How do we fix that problem?” Curreri says.
The Axle portal reporting function also makes it easy for him to stay on top of cash flow by providing a high-level view of payment status – whether the pay is outgoing to a carrier or incoming to Roadly. In addition, prompt customer service—whether by phone, email, or online chat—helps Curreri and his staff get the answers they need when they need them.
“If I was working with another company, I’d probably be on the phone for 10 or 15 minutes waiting on hold. With Axle, I can email my account manager or jump on the website and do a quick instant message chat,” Curreri says.
Working with Axle has been a huge timesaver, too. The QuickBooks integration has cut Roadly’s manual accounting activities in half.
Axle has also helped the brokerage maintain a perfect DTP rating on Ansonia, with a consistent 30-day payment schedule and desirable low-risk rating. These metrics are particularly important for a younger, growing freight broker that’s bringing on new shippers and carriers regularly.
Curreri is also convinced that Axle’s knowledgeable customer service team is a boon to first-time business owners.
“When I first started, I didn’t know how factoring worked, but the Axle team taught me everything I needed to know. They got me going,” he adds.
Experience Automated Operations for Your Freight Brokerage
From streamlining payments to integrating your accounting, the Axle Payments platform helps freight brokers make their operations more efficient so they can spend more time growing their business. Want to learn more? Contact our sales team or schedule a demo today to see how we can help.