Tampa, Fla. — July 12, 2013 — Viva Capital Funding, a factor for many carriers, now uses TRANSFLO $Velocity® from Pegasus TransTech to facilitate commerce with freight brokers. Based in El Paso, Texas, Viva Capital Funding has been in business since 1999. It factors $70 million in invoices a year for trucking and other businesses in the U.S., Mexico, and Canada.
TRANSFLO $Velocity enables Viva Capital Funding to easily send proof of delivery and other documents electronically to freight brokers. Besides accelerating the billing process, TRANSFLO $Velocity eliminates the day-to-day hassle of lost, misplaced, or unacknowledged shipping documents.
Teresa del Real, vice president of operations for Viva Capital Funding, prefers to do business with freight brokers who offer TRANSFLO $Velocity. The company has been using $Velocity since late last year.
“I use it to submit documents and invoices to brokers,” said del Real about the service. “Sometimes the broker will say we never got the documents, but with TRANSFLO $Velocity, you get tracking so you and the broker know that the invoice and supporting documents were sent.”
When a factoring company sends billing documents, TRANSFLO $Velocity provides a confirmation number. That number can be used to verify the documents have been sent to the broker. It also enables the broker to access those documents on the TRANSFLO $Velocity website where they remain available for 14 days. Documents no longer go missing when sending through TRANSFLO $Velocity.
With documentation in place, the broker can confidently make payment to factors who advance money to their carrier and owner-operator customers. This improves the business cycle for all parties involved in a shipment.
TRANSFLO $Velocity is provided by many top brokers and is free for factoring companies and carriers to use. Brokers benefit from timely receipt of delivery documents, improved cash flow, and satisfied shipper clients.
“It’s really a great service. It’s the best,” said del Real.
About Pegasus TransTech
Pegasus TransTech Corporation helps transportation companies go paperless, improve operating efficiency, speed cash flow, increase profit, and drive consistent, repeatable results by strategically creating images, electronic forms, and enterprise workflow solutions.
TRANSFLO® software provides the back office solutions for document management and electronic workflow. Pegasus TransTech’s scanning products TRANSFLO Express® truck stop scanning, TRANSFLO Now!™ anywhere in-cab scanning, and TRANSFLO Mobile provide same-day access to delivery documents which speeds driver pay and the carrier’s billing cycle. TRANSFLO $Velocity is the electronic, consistent method for carriers to submit invoices and load documents to participating brokers to get paid faster.