LogiNext Launches Payment Module That Helps Enterprises Select Carriers

LogiNext has launched a payment module that helps enterprises select carriers and manage payments.

The new module facilitates better decisions in choosing carrier partners by comparing the charges of different carriers and drivers via rate charts that are enabled by artificial intelligence (AI) and automation, the logistics automation firm said in a Thursday (Aug. 3) press release.

The module considers product specification, delivery distance, discounts and other factors essential to selecting a carrier, according to the release.

“LogiNext’s payment module can help enterprises in eliminating the confusion of picking the most cost-efficient carrier from all the options available,” Dhaval Thanki, vice president of Asia Pacific (APAC) and Middle East and Africa (MEA) at LogiNext, said in the release. “LogiNext has decoded the subtle way of bringing various costs included in shipping at one place.”

The new payment module also enables the capture of digital payments, an ability that provides greater convenience to the end customer, according to the release.

It also allows faster reconciliation of cash on delivery (CoD) orders, the deployment of incentive-driven financial models for drivers, and the use of end-to-end visibility of all the costs involved to provide smart pricing, according to the release.

“The ability to automatically calculate shipping charges and allow drivers to conveniently collect digital payments from customers can be a major contributor towards faster revenue growth and customer loyalty,” Thanki said in the release.

PYMNTS research found that transportation and logistics companies are meeting the challenges of processing payables by investing in automating their accounts payable (AP) platforms.

Eighty-three percent of these firms expect their relationships with vendors to improve due to innovations of their payables platforms, according to “Accounts Payable Automation: Transportation Companies Innovate to Drive Growth,” a PYMNTS and Routable collaboration.

In another development in the logistics sector, Silo Technologies announced July 12 that it has raised $132 million in new capital to continue developing its financial technology for distributors and grower shipper businesses in the perishable food supply chain.

Also, Meadow Lark Agency partnered with OTR Solutions July 7 to give Meadow Lark carriers access to OTR Solutions’ factoring program.

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