HUNTINGTON BEACH, Calif., FEBRUARY 10, 2011 – Freightgate, a leading provider of supply chain transportation solutions, and PayCargo, a leader in electronic invoicing and settlement, announce an alliance to deliver solutions that automate the validation and settlement of invoices for the ocean transportation industry.
The alliance will combine Freightgate's rate management and e-invoice validation solutions with PayCargo's invoice management and settlement solution. Together, the complementary solutions are designed to provide carriers and their customers with a fully automated electronic means to process all transportation freight invoices and settlement.
"Ocean container shipping is a multi-billion dollar industry and we’ll deliver tremendous efficiencies and remove costs for all stakeholders through the automation of invoicing and payment,” Martin Hubert, CEO of Freightgate. “Most e-invoice solutions do not address the manual checking of invoices — our Pay-Trek! automated validation engine is the only solution we are aware of that can automatically verify complex ocean transportation invoices.”
The Pay-Trek! freight invoice management solution helps improve invoice accuracy and protects shipper cash flow by catching mischarges before payment rather than after. The PayCargo electronic invoice presentment and payment system helps reduce the cost of approving and disputing payments.
“Together, we offer shippers the tools to help ensure that they’ve been invoiced correctly and to settle those invoices quickly,” said Chris Courts, co-CEO at PayCargo. “PayCargo gives people on both sides of a transaction insight into billing so issues can be addressed and payment can be made efficiently. PayCargo’s innovative financial solution has transformed the invoice and bill payment processes for shipping. Shippers can simply ship, click and pay.”
PayCargo provides an efficient global online freight payment system that allows shippers, carriers and freight brokers of all sizes to settle accounts faster and more safely than ever before. The company helps reduce the cost of approving and disputing payments through a secure Web-based system. PayCargo is a subsidiary of global electronic payments leader First Data Corporation. For more information, visit www.paycargo.com.
Based in Huntington Beach, California, the Freightgate (freightgate.com) team has been developing Internet solutions for the freight and logistics since 1994, such as its industry-leading PLTX™ Platform, with I-Trek!® Internet Supply Chain Collaboration & Visibility; GTM-Trek!™ for RFQ and tender management; Tariff-Trek!™ for service contract and quote management; FMC-Trek!™ for fulfilling FMC publishing requirements; Pay-Trek!™ for automated freight bill audit and payment; WISA™ innovative What-If-Scenario Analysis tool; I-Sail!™ interactive online sailing schedule; Compliance-Trek!™ for compliance management with FMC and U.S. Customs. Freightgate's customer portfolio contains companies such as Agility Logistics, Alliance International, APL Logistics, CaroTrans, Menlo Worldwide Logistics, Nippon Express, Panalpina, Primary Freight, RH-Shipping and Top Ocean. Freightgate is ISO 9001:2008 certified. For more information, visit www.freightgate.com