ArcBest Joins the TriumphPay Network to Enhance Carrier Payments
TriumphPay has announced that ArcBest (Nasdaq: ARCB), a multibillion-dollar integrated logistics company, has joined its network as a full audit and payments participant. This strategic move aims to enhance ArcBest's carrier payments, improve operational efficiency, and bolster payment security. As one of North America's largest freight brokerages, ArcBest's addition to the network is expected to have a significant impact on the transportation industry.
Steven Leonard, ArcBest's chief commercial officer, emphasized the importance of efficient and quick payments to their carrier network. The collaboration with TriumphPay is set to provide enhanced visibility into payment status and a more secure payment process, strengthening ArcBest's position as a preferred partner for carriers.
TriumphPay ha annunciato che ArcBest (Nasdaq: ARCB), una società di logistica integrata multimiliardaria, si è unita alla sua rete come partecipante completo per audit e pagamenti. Questo passo strategico mira a migliorare i pagamenti ai vettori di ArcBest, ad aumentare l'efficienza operativa e a rafforzare la sicurezza dei pagamenti. Essendo uno dei più grandi broker di freni in Nord America, l'aggiunta di ArcBest alla rete dovrebbe avere un impatto significativo sull'industria dei trasporti.
Steven Leonard, direttore commerciale di ArcBest, ha sottolineato l'importanza di pagamenti efficienti e rapidi per la loro rete di vettori. La collaborazione con TriumphPay è destinata a fornire una maggiore visibilità sullo stato dei pagamenti e un processo di pagamento più sicuro, rafforzando la posizione di ArcBest come partner preferito per i vettori.
TriumphPay ha anunciado que ArcBest (Nasdaq: ARCB), una empresa de logística integrada multimillonaria, se ha unido a su red como participante completo en auditorías y pagos. Este movimiento estratégico tiene como objetivo mejorar los pagos a los transportistas de ArcBest, aumentar la eficiencia operativa y fortalecer la seguridad de los pagos. Como una de las mayores corredoras de carga de América del Norte, se espera que la incorporación de ArcBest a la red tenga un impacto significativo en la industria del transporte.
Steven Leonard, director comercial de ArcBest, enfatizó la importancia de los pagos eficientes y rápidos para su red de transportistas. La colaboración con TriumphPay está destinada a proporcionar una mayor visibilidad del estado de los pagos y un proceso de pago más seguro, fortaleciendo la posición de ArcBest como socio preferido para los transportistas.
TriumphPay는 ArcBest (Nasdaq: ARCB), 수십억 달러 규모의 통합 물류 회사가 전체 감사 및 지불 참여자로서 자신의 네트워크에 합류했다고 발표했습니다. 이 전략적 조치는 ArcBest의 운송업체 지불을 향상하고 운영 효율성을 개선하며 지불 보안을 강화하는 것을 목표로 하고 있습니다. 북미의 가장 큰 화물 중개업체 중 하나인 ArcBest의 네트워크 추가는 운송 산업에 상당한 영향을 미칠 것으로 예상됩니다.
ArcBest의 최고 상업 책임자인 Steven Leonard는 그들의 운송업체 네트워크에 대한 효율적이고 신속한 지불의 중요성을 강조했습니다. TriumphPay와의 협력은 지불 상태에 대한 향상된 가시성과 더 안전한 지불 과정을 제공하여 ArcBest가 운송업체의 선호 파트너로서의 입지를 강화하는 데 기여할 것입니다.
TriumphPay a annoncé qu'ArcBest (Nasdaq: ARCB), une entreprise de logistique intégrée multimilliardaire, a rejoint son réseau en tant que participant complet aux audits et aux paiements. Ce mouvement stratégique vise à améliorer les paiements d'ArcBest aux transporteurs, à accroître l'efficacité opérationnelle et à renforcer la sécurité des paiements. En tant que l'un des plus grands courtiers en fret d'Amérique du Nord, l'ajout d'ArcBest au réseau devrait avoir un impact significatif sur l'industrie du transport.
Steven Leonard, directeur commercial d'ArcBest, a souligné l'importance des paiements rapides et efficaces pour leur réseau de transporteurs. La collaboration avec TriumphPay doit offrir une meilleure visibilité sur l'état des paiements et un processus de paiement plus sécurisé, renforçant ainsi la position d'ArcBest en tant que partenaire privilégié des transporteurs.
TriumphPay hat angekündigt, dass ArcBest (Nasdaq: ARCB), ein integriertes Logistikunternehmen im Milliardenbereich, seinem Netzwerk als vollwertiger Teilnehmer für Audits und Zahlungen beigetreten ist. Dieser strategische Schritt zielt darauf ab, die Zahlungen für Spediteure bei ArcBest zu verbessern, die betriebliche Effizienz zu steigern und die Zahlungssicherheit zu stärken. Da ArcBest einer der größten Frachtvermittler in Nordamerika ist, wird erwartet, dass die Aufnahme in das Netzwerk erhebliche Auswirkungen auf die Transportbranche haben wird.
Steven Leonard, der Chief Commercial Officer von ArcBest, betonte die Bedeutung effizienter und schneller Zahlungen für ihr Speditionsnetzwerk. Die Zusammenarbeit mit TriumphPay soll eine bessere Sichtbarkeit des Zahlungsstatus und einen sichereren Zahlungsprozess bieten, wodurch die Position von ArcBest als bevorzugter Partner für Spediteure gestärkt wird.
- ArcBest, a multibillion-dollar logistics company, joins TriumphPay network
- Partnership aims to improve operational efficiency and payment security
- Enhanced visibility into payment status for carriers
- Faster and more secure payment process for ArcBest's carrier network
- None.
Insights
ArcBest's integration with TriumphPay is a strategic move that could yield positive operational and financial outcomes. By streamlining payment processes, ArcBest may see improved cash flow management and reduced administrative costs. This partnership could potentially lead to:
- Enhanced carrier relationships, possibly resulting in better rates and increased capacity
- Improved operational efficiency, potentially boosting profit margins
- Strengthened competitive position in the logistics market
While the immediate financial impact may be modest, the long-term benefits could be substantial if ArcBest leverages this technology to optimize its operations and expand its carrier network.
The adoption of TriumphPay's network by ArcBest signifies a notable shift towards digital transformation in the logistics industry. This move aligns with the broader trend of tech-enabled supply chain optimization. Key technological benefits include:
- Enhanced payment security through TriumphPay's secure network
- Improved visibility into payment status, facilitating better financial planning for carriers
- Potential for data-driven insights to optimize logistics operations
As one of the largest freight brokers joining the network, ArcBest's participation could accelerate the network effect, potentially leading to wider industry adoption and standardization of digital payment solutions in logistics.
This partnership reflects a growing trend in the logistics sector towards digital integration and payment optimization. For ArcBest, joining TriumphPay's network could yield several market advantages:
- Improved carrier satisfaction, potentially leading to higher retention rates and a more stable supply base
- Enhanced reputation as a tech-forward company, which could attract more shippers and carriers
- Potential for market share growth by leveraging improved operational efficiencies
The move also positions ArcBest to better compete with tech-enabled logistics startups that have been disrupting the industry. However, the true impact on ArcBest's market position will depend on how effectively they leverage this technology to create tangible value for their customers and carriers.
ArcBest joins as one of the largest freight brokers on the TriumphPay Network
DALLAS, Aug. 06, 2024 (GLOBE NEWSWIRE) -- TriumphPay announced today the addition of ArcBest® (Nasdaq: ARCB), a multibillion-dollar integrated logistics company offering one of the largest freight brokerages in North America, to TriumphPay as a full audit and payments network participant.
ArcBest, a leader in the transportation and logistics industry, joins the network as part of its strategy to better serve carriers, improve operational efficiency and enhance payment security. This customer alliance builds on the momentum of TriumphPay’s expansion and growth as a technological and innovative services hub for the freight industry.
“Our carrier network is essential in delivering top-tier service to our customers, and we value the collaborative relationships we have with them. Carriers depend on us to pay them quickly and efficiently, and TriumphPay’s payment system enables us to meet these expectations,” said Steven Leonard, chief commercial officer and president of asset-light logistics at ArcBest. “Providing enhanced visibility into payment status and a faster, more secure payment process strengthens our position as a preferred partner for carriers in our network.”
TriumphPay is the premier transportation payments network in North America, a secure network for presentment, audit and payment of transportation invoices. By joining TriumphPay, ArcBest is helping to create a more robust and efficient payments network for the entire transportation industry.
“We’re thrilled to announce ArcBest joining and building scale on our network,” said Aaron P. Graft, vice chairman and chief executive officer of Triumph Financial, Inc. (Nasdaq: TFIN). “ArcBest has a long history of championing innovation and technology to deliver powerful supply chain solutions. Welcoming such an impressive integrated logistics company to the TriumphPay Network will have a transformative impact for their customers and keep the supply chain moving.”
ArcBest joins leading, notable U.S. freight brokers on the TriumphPay Network. For more information, visit www.arcb.com and www.triumphpay.com.
About TriumphPay
TriumphPay is the premier payments network for freight brokers, factors, shippers and carriers in the North American trucking industry, offering a structured, secure data exchange. The TriumphPay network and integrated technology solutions remove friction and reduce fraud in the presentment, audit and payment of approximately
TriumphPay is a division of TBK Bank, SSB, Member FDIC, and a member of the Triumph Financial, Inc. (Nasdaq: TFIN) portfolio of brands. For more information, visit us at triumphpay.com.
About ArcBest
ArcBest® (Nasdaq: ARCB) is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923 and now with 15,000 employees across 250 campuses and service centers, the company is a logistics powerhouse, using its technology, expertise and scale to connect shippers with the solutions they need — from ground, air and ocean transportation to fully managed supply chains. ArcBest has a long history of innovation that is enriched by deep customer relationships. With a commitment to helping customers navigate supply chain challenges now and in the future, the company is developing ground-breaking technology like Vaux™, one of the TIME Best Inventions of 2023. For more information, visit arcb.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that such statements are predictions and that actual events or results may differ materially. Triumph Financial’s expected financial results or other plans are subject to a number of risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” and the forward-looking statement disclosure contained in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 13, 2024. Forward-looking statements speak only as of the date made and Triumph Financial undertakes no duty to update the information.
Source: Triumph Financial, Inc.
Investor Relations Contact:
Luke Wyse
Triumph Financial, Inc.
Senior Vice President, Head of Investor Relations
lwyse@tfin.com
Media Contacts:
Amanda Tavackoli
Triumph Financial, Inc.
Senior Vice President, Director of Corporate Communication
atavackoli@tfin.com
Autumnn Mahar
ArcBest
Director, External Communications and Public Relations
amahar@arcb.com
FAQ
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