EDEN PRAIRIE, Minn. — C.H. Robinson is announcing the launch of C.H. Robinson Financial, an innovative suite of digital payment solutions aimed to increase the speed of cash flow for carriers.
“We recognize that timely payments have long been a challenge for the carrier community, and we’re proud to introduce this new solution, setting a new standard of speed and efficiency unmatched by any other freight provider,” said Cody Griggs, vice president of digital brokerage. “Along with Triumph’s proven expertise in delivering innovative payment and financial solutions, this digital advancement is poised to be a game changer for the trucking industry. It marks a significant leap forward in fostering financial stability and streamlining operations for carriers.”
Partnership with Triumph Financial
According to a company press release, through its strategic relationship with Triumph Financial Inc. carriers within C.H. Robinson’s 450,000+ contract carrier network now have access to a new factoring solution designed first for C.H. Robinson. Additionally, through Triumph’s LoadPay, a digital bank account, carriers are able to receive payment on approved invoices within minutes without a transfer fee— transforming what once took days or weeks into near-instant payments.
“This industry leading solution redefines payment efficiency for carriers, streamlining processes and helping to drive operational excellence.” the release said. “Backed by Triumph Financial’s leading digital payment solutions and C.H. Robinson’s unmatched scale, it delivers immediate impact and unprecedented access to these terms.”
Cash Flow Challenges
Carriers often face cash flow challenges due to 30- to 90-day payment terms, leaving them waiting weeks for funds needed to cover essential expenses like fuel, maintenance, and payroll. In today’s market, fast and reliable payments are critical as carriers are looking for ways to remain competitive amid inflationary and market pressures. This new digital suite of services streamlines payment processes, enhances cash flow, reduces time-consuming administrative burdens, and helps carriers focus on what is most important – growing their business and maximizing their available time hauling freight.
Solution Benefits
Benefits under the new C.H. Robinson Financial solution set include:
- Immediate Cash Flow: Factoring is a solution that accelerates invoice payments, helping suppliers improve their cash flow. Factoring powered by Delta, a new service offering from Triumph designed first for C.H. Robinson, gives carriers immediate access to funds, 24/7, for unpaid invoices. This service enhances carriers’ financial liquidity by providing faster payments and reducing administrative burdens. Carriers will have the benefit of getting approved invoices for C.H. Robinson loads and other freight providers paid within a day, while Factoring manages payment collection directly from customers.
- Time Savings: Through a LoadPay digital bank account, carriers can receive payments almost instantly once their invoices are approved. Unlike traditional bank accounts, LoadPay ensures that payments are transferred to carriers’ accounts within minutes, even on weekends and holidays. This ensures quicker payment —no more waiting days or weeks for money — but also reduces the time spent on back-office payment processes.
- Flexibility and Security: Instant access to funds with your LoadPay digital bank account, which also includes a debit card and detailed invoice and payment tracking for full transparency across the payment lifecycle.
“Triumph is thrilled to combine our technology and expertise with C.H. Robinson to deliver industry leading financial solutions to market,” said Erik Bahr, chief revenue officer at Triumph Financial. “This collaboration empowers C.H. Robinson to provide their carriers with an unmatched experience, further strengthening their industry leadership.”
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
