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Sep 3, 2020 at 6:15 PMsennder and JITpay™ combine their expertise in a new partnership to digitally accelerate billing and payment processes in freight transport. The two companies have developed a product for freight forwarders that simplifies the invoicing process and significantly shortens payment duration. sennder and JITpay™ support transport companies in strengthening their cash flow and liquidity.
(Berlin) sennder, Europe’s leading digital freight forwarder in road freight transport, and JITpay™, a German FinTech provider of payment processing and financing solutions for the logistics sector, have jointly established a new strategic partnership.
Through this partnership, the two companies have developed a new financing product for transport companies and freight forwarders in Germany and Poland. The product simplifies billing processes and enables payment to freight forwarders within 24 hours of invoice submission.
Digital Solution for Billing Processes
sennder already offers its transport companies a fast payment option if they drive directly for sennder. However, efficient financing products are not accessible to all carriers, and long, manual processes pose a bureaucratic obstacle. Often, personal meetings are required to unlock new customers for invoicing agreements.
To avoid this complexity, sennder and JITpay™ now offer a fully digital solution for billing processes. Transport companies can register for the service entirely digitally in just 15 minutes and immediately create invoices through the joint platform or have them paid instantly after registration. The service features a transparent and cost-effective pricing model and can be used individually as needed without further obligations.
A Contemporary Solution
Many small and medium-sized transport companies often have to deal with long payment terms and the risk of payment defaults. Shortening payment terms, combined with hassle-free invoice creation and assuming the default risk, contributes to strengthening the transport industry. A stable liquidity situation is of immense importance for companies of all sizes in the current economic environment. sennder and JITpay™ enable a fully digital process for invoicing and payment of services with their joint product.
Driving Digitalization Forward Together
The common goal of sennder and JITpay™ is to advance the digitalization of the logistics sector. For this reason, the two companies complement each other excellently: sennder brings its valuable knowledge of the operational challenges faced by carriers into the partnership, while JITpay™ adds its solid expertise in complex technology and financial products as well as their digital implementation.
Felix Hellmann, Head of Services at sennder, says: “We are pleased to offer our freight forwarders more flexibility in their payment terms during such a critical time. The industry has gone through a turbulent period in the last five months. The digitalization of the industry is more important than ever today. We are excited to collaborate with JITpay™ and provide an innovative invoicing and payment solution that makes life easier for carriers.”
Dr. Daniel Steinke, CEO of JITpay™, adds: “We look forward to working with sennder to further advance the digitalization of the logistics industry together. Payment processing and financing functions in logistics will increasingly play a key role. For this reason, we will roll out our solution to more countries in Europe later this year.”
Initially, the service will be available for transport companies in the Polish and German markets.
About sennder
sennder was founded in 2015 by David Nothacker, Nicolaus Schefenacker, and Julius Köhler and is now the leading digital European freight forwarder connecting commercial shippers with small forwarding companies. As a data-driven company, sennder helps make the logistics industry fit for the future and ensures transparency and efficiency in the procurement and distribution of goods.
sennder manages over 10,000 trucks across Europe with a team of 400 employees. Through its proprietary technology, sennder primarily focuses on route optimization and reducing empty transport kilometers and downtime.
About JITpay™
JITpay™ is a rapidly growing payment service provider specialized in the logistics industry. Founded in 2016, JITpay™ GmbH digitizes and consolidates billing and payment processes in logistics. As part of the Central Billing (ZAL®), JITpay™ takes over the billing of all logistics costs for shippers, freight forwarders, and transport companies. JITpay™ combines Central Billing with a proprietary fully digital (reverse) factoring program that enables immediate payment to service providers as well as flexible payment terms for clients. JITpay™ has its own factoring company. Its headquarters, with over 50 employees, is located in Braunschweig.
Photo: © Jitpay
