What is digital freight factoring?

Digital Freight Factoring

What is digital freight factoring?

Digital freight factoring is a new way to request, manage and service payment advances. It automates purchases of freight invoices. Digital freight factoring is superior to old-school freight factoring in several ways:

  • Instant digital payment requests
  • Digitization of backup documents
  • Digital updates on payment status
  • Faster payment processing
  • Faster accounts receivable

Haul Pay – Digital Freight Factoring & Quick Pay

We realized just how much more factoring and quick pay clients could benefit from a fully digital experience. We built Haul Pay to ensure the best possible freight payment experience. Haul Pay reduces the time to manage and get payment advances.

Haul Pay is currently offered to owner-operators and trucking companies (carriers) through our web app and an available free mobile app. We included our open source load board to help you find loads. Payment requests can be make in the app in seconds and documents are digitized. This makes tracking payments a breeze.

Invoices are automatically generated for you. This means you don’t need to worry about providing an invoice to factor a load or request an advance. We generate that for you. You just upload/attach a copy or image of the rate confirmation and BOL.

What are the core client benefits of Haul Pay?

  • Fastest possible payment processing
  • 24/7 Mobile and web payment requests
  • Get push, text and email for payment status
  • Same day and next day payment options
  • Get instant payment advances at pickup
  • No extra fees, large reserve or long term contracts

Haul Pay enables carriers to get the lowest possible non-recourse and recourse factoring rates. Haul Pay provides the best peace of mind for credit and accounts. We include free software that can integrate with your accounting tools. The web app even lets you pull reporting and track payment history from any device.

Is Haul Pay only for carriers and owner-operators?

A new broker program is currently in the works. This new program will enable brokers to offer quick pay. There will be two options for the program and they will enable brokers to offer quick pay to their carriers. This program will ensure brokers maintain a competitive advantage and are able to service their carriers with the fastest possible payments for freight invoices. If you’re a broker and are interested in offering your carriers quick pay send us an email today at [email protected]

Stay tuned for more updates on Haul Pay and digital freight factoring here on our blog.

We look forward to extending more credit and the fastest payment options as we continue to expand our technology here at ComFreight.

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