Cary, NC — MercuryGate® International, Inc., the industry-leading provider of transportation management software, today announced an integration partnership with BAM Worldwide whereby shared brokerage clients gain “one-click” access to working capital to sustain high growth businesses.
In today’s market of tight capacity, shippers are turning more frequently to freight brokers. Many small and mid-size brokers are unable to handle the sudden increase in volume, as these same market conditions have created a cash flow imbalance from brokers paying carriers for loads before shipper customers pay on invoices.
Traditional accounts receivable-based financing and factoring programs are too limiting and expensive to support the high volume, low margin brokerage business. With the new integration with BAM Worldwide, MercuryGate’s brokerage clients can receive funds instantly at the transaction level in their TMS environment.
“MercuryGate has integrated our world-class TMS with a financing solution that is designed specifically for the transportation industry, by people in the industry,” said MercuryGate CEO and Co-Founder Monica Wooden. “We are excited about the opportunities this gives our customers, as they grow their businesses and increase their margins.”
Both the MercuryGate TMS and the BAM Worldwide lending platform are available to brokers with no up-front costs. Through Web service integration, MercuryGate TMS presents users a “Request Funding” option when processing an order. When the carrier submits delivery documents, the payment process is triggered automatically through the BAM platform by injecting funds for the transaction based on the agreed-upon terms.
“As the market place shifts, more brokers are searching for the right TMS technology and financing solutions to handle increased shipper demands,” says Todd Ehrlich, president and CEO of BAM Worldwide. “MercuryGate’s partnership with BAM Worldwide is the only complete solution to drive growth.”
Besides being able to respond quickly to growth opportunities, MercuryGate and BAM clients will benefit from the increased efficiency in payment processing and can reallocate resources to generate new revenue. Brokerage clients can also improve credit scores and increase margins since carriers are willing to soften their rates in exchange for fast, reliable payment.
Brokers pay a low, one-time fee for each transaction with interest charged only for the number of days that funds are outstanding. Unlike traditional bank lending or factoring arrangements, BAM does not require personal guarantees or take control of collections.
For more information about the MercuryGate and BAM Worldwide partnership, visit contact us at [email protected].
About BAM Worldwide
BAM Worldwide, LLC provides freight brokerage firms and carriers with a unique working capital and payment processing solution. Brokerage firms are able to increase financial and operational performance and efficiency, allowing them to reach their full potential and increase cash flow at the same time. By enabling brokerage firms to pay carriers faster it allows them to book loads quicker, build stronger relationships with carriers, and improve credit scores, while remaining independent. For more information visit www.BAMworldwide.com.
About MercuryGate
MercuryGate provides powerful transportation management solutions proven to be a competitive advantage for today’s most successful shippers, 3PLs, freight forwarders, brokers, and carriers. MercuryGate’s solutions are unique in their native support of all modes of transportation on a single platform including Parcel, LTL, Truckload, Air, Ocean, Rail, and Intermodal. Through the continued release of innovative, results-driven technology and a commitment to making customers successful, MercuryGate delivers exceptional value for TMS users through improved productivity and operational efficiency. MercuryGate offers business intelligence to improve transportation processes, increase customer satisfaction, and reduce costs. Find out why MercuryGate has set the industry standard for the most adaptable, comprehensive transportation solutions suite in the industry at www.mercurygate.com or on Twitter at @MercuryGate.
