Systems provider Aljex Software has joined with the financial services company Triumph Business Capital to provide two new working capital services.
The two new products integrated into Aljex include TriumphPay and Accounts Receivable Factoring, Aljex said.
“This integration fundamentally changes brokerage for the better,” Aljex CEO Tom Heine said in a statement. “Brokers using Triumph in Aljex now have unlimited access to capital, allowing smaller brokers to compete with the big brokers.”
TriumphPay is a web-based payment processing portal that allows brokers to pay carriers quickly without having large sums of cash on hand, the company said. After a load is complete in Aljex, the broker can designate that the invoice is approved for payment, at which time Triumph purchases the invoice from the broker and pays the carrier.
Accounts Receivable Factoring is a comprehensive program of debt-free financing for invoices. Every time a load is complete in Aljex, supporting documentation is automatically sent to Triumph, which purchases the invoice and remits funds to the broker, it said.
