Swift Speeds Payments, Cash Flow

Truckload carrier Swift Transportation is upgrading its internal document processing to pay drivers and bill customers faster as cash flow has become a major priority for carriers in the current economy.

Using software from Tampa, Fla.-based Pegasus TransTech, drivers submit trip documents to fuel desk attendants for scanning at more than 500 truck stop locations nationwide. The documents are immediately delivered electronically to the fleet for billing and payroll processing.

“We are excited about our drivers now being able to deliver loads and scan their paperwork in the same day,” said Renee Krug, vice president of finance at Swift Transportation. Swift operates over 17,000 trucks and generated $3.4 billion in revenue in 2008.

Pegasus TransTech says its billing and collections software, called TRANSFLO Express, has helped 27 of the top 35 truckload carriers reduce operating costs, improve driver satisfaction, speed cash flow and grow without adding to payroll.

Contact John Gallagher at jgallagher@joc.com .