The Need for Financial Transformation in Logistics:
The logistics landscape is constantly changing on a daily basis. Digital freight marketplaces have become a new way of life in how shippers and carriers connect. Given how many different routes they serve and companies they deal with on any given day, their payment systems need to be able to handle complexity in an efficient manner. Let’s take a look at some of the ways freight marketplaces can use Modernbanc to initiate payments and maximize their entire financial operations.
Streamlined Payment Processes: If there’s one thing that freight brokerages are aware of, it’s that no day is going to be the same as the last. Transactions are coming from different shippers and carriers every single day, and a brokerage needs a system that allows them to initiate and track payments easily. Modernbanc is the solution brokerages need to schedule automated payments and send notifications upon delivery. This saves them hundreds of hours of work and eliminates worry from everyone involved in a shipment.
Visibility into Financial Operations:
In the fast-paced logistics industry, up-to-the-minute insights are crucial. Modernbanc's real-time reporting and analytics provide instant visibility into financial operations. Brokerages can monitor cash flow, track revenue, and assess expenses in real time. For instance, a brokerage can use Modernbanc's dashboard to instantly view their daily, weekly, and monthly financial performance, enabling quick strategic adjustments based on actual data.
Customized Financial Operations:
Every brokerage has a different way of doing business and no operations are run the same as another. That’s what makes each one unique! You can customize Modernbanc’s modules to fit your needs specifically. If a brokerage is often shipping loads to Canada, Mexico or overseas, they can take advantage of Modernbanc’s currency agnostic approach and they’d be able to gain visibility into those cross-border transactions.
Strengthened Relationships with Shippers and Carriers:
Brokerages rely on the strengths of their relationships to build their books of business. What’s a better way to build that relationship with shippers and carriers than to send automated notifications of payments and successful deliveries? Reliability and dependability would never be in question as they’d eliminate all stress and worry with a simple ping.
Compliance Remains Paramount:
If there are two industries that operate under strict regulations, it’s finance and logistics. One of the most prevalent regulations that we’ve touched on in the past is PCI compliance. Modernbanc is PCI Tier 1 compliant, so brokerages who trust us with their customers’ card data can store it for future use as everything is fully encrypted. It’s a great way to save up to a year of work and offload that burden to us so you can spend more time scaling your business.
Modernbanc - The Future of Financial Software in Freight:
A probably over-used phrase in business is “time is money,” but that’s genuinely how it is in logistics. Modernbanc is here to help change the game for freight brokerages. With the ability to initiate payments, provide real-time visibility, customize modules and maintain compliance, Modernbanc is the vendor to eliminate the need for other vendors!
Are you a freight brokerage or logistics company looking to revamp and modernize your financial operations? Reach out to us at [email protected] or connect with us on LinkedIn! We want to hear from you, answer your questions and make sure you’re on the correct route.