Trax, TriumphPay Partner to Prevent Transportation Fraud
Trax and TriumphPay executives co-present strategies for mitigating transportation fraud risks, while gaining end-to-end visibility into carbon emissions for reporting and reduction purposes.
Trax Technologies, the global leader in Transportation Spend Management (TSM) solutions, and strategic partner TriumphPay, the premier payments network for freight brokers, factors, shippers, and carriers, are educating industry leaders about methods for reducing the risk of fraud within transportation payments. With U.S. business logistics costs reaching a staggering $2.3 trillion in 2022 and fraud activity increasing 57% in Q2 2023 compared to Q2 2022, transportation payments fraud is a huge area of concern for global supply chain leaders.
Trax and TriumphPay are co-presenting during the Council of Supply Chain Management Professionals (CSCMP) EDGE 2023 Supply Chain Conference and Exhibition Mon., Oct. 2, 11 a.m. – 11:45 a.m. EST. During the session, “Using Data & Analytics to Improve Carrier Relationships,” leaders from both companies will discuss solutions to multifaceted challenges, including transportation fraud prevention.
Trax and TriumphPay are developing a seamless integration between Trax’s global freight audit solution and TriumphPay’s payments network to create a highly secure payments platform for its Fortune 1000 customer base. This integration will create greater financial flexibility and improved working capital for both shippers and logistics service providers, while reducing the risk of fraud within transportation payments.
The Trax team is available to meet with CSCMP Edge 2023 attendees following the panel presentation at Trax booth #101. Attendees can learn more about how credible freight audit and payment processing tools and data utilization can support fraud reduction, while optimizing shipping costs and transportation carbon emissions.