Skip to content
Search AI Powered
Human content, AI powered search.

Latest Stories

Press releases are provided by companies as is and have not been edited or checked for accuracy. Any queries should be directed to the company issuing the release.

Trax and TriumphPay Tackle Fraud Prevention at CSCMP EDGE 2023

Trax and TriumphPay executives co-present strategies for mitigating transportation fraud risks, while gaining end-to-end visibility into carbon emissions for reporting and reduction purposes -

Trax and TriumphPay Tackle Fraud Prevention at CSCMP EDGE 2023
DC Velocity Staff
By DC Velocity StaffSep 26, 2023
DC Velocity Staff
See Full Bio

Trax Technologies, the global leader in Transportation Spend Management (TSM) solutions, and strategic partner TriumphPay, the premier payments network for freight brokers, factors, shippers, and carriers, are educating industry leaders about methods for reducing the risk of fraud within transportation payments. With U.S. business logistics costs reaching a staggering $2.3 trillion in 2022 and fraud activity increasing 57% in Q2 2023 compared to Q2 2022, transportation payments fraud is a huge area of concern for global supply chain leaders.

Trax and TriumphPay are co-presenting during the Council of Supply Chain Management Professionals (CSCMP) EDGE 2023 Supply Chain Conference and Exhibition Mon., Oct. 2, 11 a.m. – 11:45 a.m. EST. During the session, “Using Data & Analytics to Improve Carrier Relationships,” leaders from both companies will discuss solutions to multifaceted challenges, including transportation fraud prevention.

“Trax and TriumphPay are helping global transportation leaders solve a myriad of escalating, disruptive challenges by leveraging credible data insights to make informed decisions for improved financial and physical flows,” said Steve Beda, Executive Vice President of Customer Success, Trax. “We also have the opportunity to teach supply chain leaders the value in utilizing data to create carbon impact transparency by tracking and reducing carbon emissions, which help to positively impact the bottom line, relationship management, and the environment.”

Trax and TriumphPay are developing a seamless integration between Trax’s global freight audit solution and TriumphPay’s payments network to create a highly secure payments platform for its Fortune 1000 customer base. This integration will create greater financial flexibility and improved working capital for both shippers and logistics service providers, while reducing the risk of fraud within transportation payments.

“Our companies have partnered to deliver fraud protection, flexible payments and supply chain finance solutions, and funds security for transportation payments,” said Josh Bouk, Chief Partnership Officer, TriumphPay. “Helping supply chain leaders become successful in mitigating payment fraud within transportation networks and leveraging various payment options leads to increased carrier satisfaction and service.”

The Trax team is available to meet with CSCMP Edge 2023 attendees following the panel presentation at Trax booth #101. Attendees can learn more about how credible freight audit and payment processing tools and data utilization can support fraud reduction, while optimizing shipping costs and transportation carbon emissions.

https://www.traxtech.com/news/trax-and-triumphpay-tackle-fraud-prevention-at-cscmp-edge-2023
Industry Press RoomTechnologyTransportationSC Services
trax technologies
Industry Press RoomTechnologyTransportationSC Services
trax technologies

The Latest

containers stacked in yard
Regulation/Government

U.S. manufacturers scramble to avoid pain of tariff war

More Stories

Warp Announces Preparation for U.S. Government Partnership to Enhance Service and Efficiency

Los Angeles, CA, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Warp, a tech-powered network of cross-docks and carriers offering various vehicle sizes, announced that 2025 it will extend its solutions and services to the U.S. government. Warp aims to modernize government freight logistics with machine-learning-driven planning, optimized network strategies, and flexible solutions to create efficient, cost-effective, and sustainable supply chain transportation.

Focused on optimizing every load, every time, Warp employs machine learning (ML), artificial intelligence (AI), and groundbreaking consolidation techniques to blur the traditional lines of freight shipping by combining the best elements of LTL, FTL, and parcel delivery. Using its homogenous fleet including cargo vans, sedans, box trucks, and 53-foot trailers, Warp facilitates carrier injections, inbound vendor consolidation, pool point distribution, zone-skipping, store replenishment, and national retail distribution for some of the world’s largest shippers.

Keep ReadingShow less

Featured

diagram of lithium-ion battery in EV
Batteries/Chargers/Motors/Fuel

Lithium refinery to build $1.2 billion factory in Oklahoma

cargo handling cranes at a port
Cranes

Port of Savannah got four more ship-to-shore cranes on Saturday

warehouse workers handling boxes
Supply Chain Optimization Software

Aptean picks up fellow supply chain software vendor Logility

a port yard with artificial intelligence
Artificial Intelligence

​Putting artificial intelligence to work

Toyota Material Handling MidSouth’s Forklift Donation Raises $40,000 for Higher Education

Toyota Material Handling and Toyota Material Handling MidSouth partner to donate 5,000-pound-capacity pneumatic forklift at Concrete Industry Management’s annual charity auction.

Photo courtesy of Toyota Material Handling

Toyota Material Handling MidSouth’s Forklift Donation Raises $40,000 for Higher Education

LAS VEGAS, Jan. 28, 2024 – Toyota Material Handling MidSouth, a full-service dealer for Toyota Material Handling, showcased its dedication to fostering the next generation of industry professionals by donating a 5,000-pound-capacity Toyota Core IC Pneumatic forklift to the Concrete Industry Management’s (CIM) annual charity auction on January 22.

The forklift’s winning bid of $40,000 significantly contributed to the auction’s total proceeds of $2.15 million, supporting CIM’s mission to address the growing demand for skilled professionals in the concrete industry. Offered at five universities, CIM equips students with technical, communication and management expertise, preparing them for successful careers in a rapidly evolving industry. Proceeds from the auction are used to assist CIM in funding higher education programs that offer degrees in concrete industry management.

Keep ReadingShow less

Chang Robotics launches 'The Chang Robotics Fund' - A Seed Stage Venture Capital Fund targetting a $50M Raise to Specialize in Disruptive Technology

JACKSONVILLE, Fla., Jan. 27, 2025 /PRNewswire/ -- 2,750 miles away from Silicon Valley, Matthew Chang, founder of Chang Robotics, today announced his next business venture: The Chang Robotics Fund. The Fund is targeting a $50M raise to address the numerous needs and market opportunities the Chang Robotics engineering team identified in their daily operations by investing in disruptive technologies designed to confront the industry's most urgent challenges—from labor shortages to energy efficiency to environmental remediation. By utilizing innovative intellectual property and the engineering and management expertise of Chang Robotics, the Fund seeks to scale its targeted innovations into impactful, transformative, and profitable businesses.

Global industries, from manufacturing to healthcare, face mounting pressures such as intensifying global competition, workforce constraints, escalating expenses, and the urgent need for environmental restoration. Tackling these issues demands a new paradigm of intelligent automation, energy efficiency, and sustainable innovation.

Keep ReadingShow less

Adelante SCM and Magaya Release Report on the 2025 State of Digitization in Freight Forwarding

Miami, FL – January 28, 2025 – Magaya Corporation, the leading freight management platform for logistics service providers (LSPs), today released a report detailing the state of digitization in freight forwarding and the divide that presently exists between shipper expectations and forwarder capabilities.

In November 2024, independent research firm Adelante SCM and Magaya surveyed executives in the logistics services industry, as well as supply chain and logistics executives from manufacturing, retail, and distribution companies. The research found a substantial gap between what the shippers expect in terms of technological capabilities and what their logistics service providers currently offer.

Keep ReadingShow less

ORTEC Joins Wine & Spirits Wholesalers of America (WSWA)

Atlanta, GA – ORTEC, a leader in advanced analytics and optimization solutions, is excited to announce its membership in the Wine and Spirits Wholesalers of America (WSWA), the only national membership organization dedicated to wine and spirits distributors.

“Joining WSWA is an important milestone for ORTEC toward our goal to become a trusted technology partner to wine and spirits distributors,” said Mat Witte, CEO of ORTEC Americas. “We envision a future of collaborating with fellow members to drive innovation and optimize operations that benefit their business, their customers, and the industry as a whole.”

As a member of WSWA, ORTEC is committed to leveraging its expertise in advanced analytics and optimization to support the goals of the wine and spirits distribution industry. This collaboration will enable ORTEC to share insights and innovative solutions that can help streamline loading and delivery while improving efficiency across the sector.

About ORTEC
ORTEC is a leading provider of advanced analytics and optimization solutions, dedicated to helping organizations enhance their operational efficiency and decision-making processes. With a strong focus on innovation, ORTEC leverages cutting-edge technologies and data-driven insights to address complex challenges across a number of industries, including logistics, manufacturing, and healthcare. The company’s commitment to continuous improvement and collaboration with clients enables businesses to optimize their resources, reduce costs, and drive sustainable growth. By integrating advanced analytics into their operations, ORTEC empowers organizations to make informed decisions that lead to transformative outcomes and a competitive edge in the market. Discover more at ORTEC | NEWS.

About WSWA
WSWA plays a vital role in advocating for the interests of distributors on federal, state, regulatory, and legal issues that impact the beverage alcohol industry. The organization focuses on critical policy areas, including taxation of family-owned businesses, state-based alcohol regulation, social responsibility, and impaired driving prevention. Additionally, WSWA offers programs designed to promote the careers of its members and help their businesses thrive in a diverse and dynamic industry. Learn more at wswa.org.

Copyright ©2025.