on Tuesday, software vendor Raft has created an integration with PayCargo, giving Raft customers access to PayCargo financing and invoicing tools with one click. The integration of the two companies is committed to improving payment efficiency and minimizing the time it takes for freight forwarders to review and pay invoices.
RaftRaft changed its name from Vector.ai in early November. It mainly provides products for automated tasks and data extraction as well as collaboration tools for connecting forwarding teams, indicating that automated invoice reconciliation and payment is a tool to reduce operational risks.
in 2019, Paycargo appointed Lionel van der Walt as president and chief executive officer of the Americas business. after four years of work, he added Raft, a freight software supplier, in September.
"having to manually click on invoices, enter data and make payments is a big operating time vacuum," Lionel van der Walt, Raft's chief growth officer, said in a statement. "Many freight forwarders spend up to half a day a week manually coordinating different systems."
PayCargo was established in 2008 to provide enterprises with a cloud-based contactless payment ecosystem that allows payers to safely and quickly make payments to suppliers (e. g., air and ocean shipping companies, seaports, ground handling, freight forwarders, etc.). PayCargo the current annual transaction volume is about 4 billion US dollars, this is less than 3% of the total global supply chain financial market. PayCargo is a start-up company that provides payment and data insight platforms for logistics companies and continues to develop into new regions in Asia, the Middle East and Latin America.
PayCargo software can help companies promote and manage payments for cross-sea, air, rail and truck transportation. PayCargo platform allows real-time customer reports and invoices, providing workflow tools for payments and reconciliations, prepayments, and automatic refunds in any currency.
PayCargo CEO Eduardo Del Riego said in a statement that Raft's existing integration with commonly used freight operating systems and transportation management tools (including CargoWise and Descartes) "helps the vast majority of our customers who use these solutions and can quickly and easily launch our payment functions in Raft.
payment is becoming a cater to the development of the freight forwarding industry, providing freight forwarders with more effective ways to accept customer payments.
Forwardernet.com