A service aimed at helping carriers collect the payment of their invoices, significantly reducing the waiting time to get paid.

With the goal of bringing continuous innovation to its members, Teleroute Freight Exchange aims to help transport companies reduce long payment terms via FastPayment a factoring solution that allows carriers to collect their transport invoices in 48 hours.

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Teleroute, part of Alpega, delivers on innovation with its new product FastPayment A service aimed at helping carriers collect the payment of their invoices, significantly reducing the waiting time to get paid. (Photo: Alpega Group)

Speaking on the initiative, Fabrice Douteaud, GM and COO of Teleroute, says: “The idea of decreasing the time to get paid to help companies have more working capital is an innovation that we wanted to bring to our customers. We sat down and listened their concerns and carefully crafted a solution that will help to close the gap between when the work is done and when they get paid, tackling cash flow issues and bringing them financial liquidity.”

The industry average for payment terms ranges from 60 to 90 days after the service has been completed, but with FastPayment this will now be a thing of the past. Teleroute members can sign up to the service for free and request FastPayment when they want to advance the payment of their invoice. There is no limit on the amount of the invoices administered and carriers can select the invoices on which they wish to apply the service, once the invoice is confirmed the money will be transferred in 48 hours.

FastPayment is now available for Teleroute members based in Belgium, the Netherlands and Spain working with freight forwarders in Benelux, France and Spain, regardless of whether they are customers of the freight exchanges. In the coming months, the rest of EU markets where Teleroute operates will also have FastPayment available.

In light of the recent brand revamp, and in an effort to strengthen the community aspect of Teleroute, this service joins other new initiatives such as TelerouteChat, that helps carriers close deals faster, and Payment Guarantee, which allows carriers to work with the certainty that they will always be paid for their services.

FastPayment is also available at Teleroute's sister brand Wtransnet, the leader Freight exchange in Iberia.

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