Long payment terms was already one of the most common issues faced in the transportation industry. In Poland specifically, the average time for carriers to receive their money after issuing an invoice, ranges from 45 to 60 days. However, with the unprecedented rising costs of fuel and transport operations, many carriers simply cannot afford to wait that long to receive payment for their delivered transport services. It becomes a threat for the business continuity and a rise in bankruptcies has been witnessed within the carrier community.
FastPayment is a solution designed to overcome long payment terms. It is a safe solution and the entire process to request short-term financing for specific invoices is 100% online and without complex formalities, ensuring pay out in a matter of hours.
The roll out of FastPayment in Poland is an extension of the service that was already operating successfully in Spain and Benelux. As a true pan-European freight exchange it is crucial to offer an ecosystem of financial services able to cater across Europe. Therefore, Alpega has invested heavily in its own operations as well as in partnerships with multiple different financial service providers. That way it can offer a solid European coverage, while at the same time offering a seamless experience to all its European customers.
“Listening to our customers, many SME’s are not familiar with non-banking financial solutions like factoring, or believe their company cannot apply for a service like this”, says Fabrice Douteaud, GM of Teleroute. “By offering FastPayment through Teleroute, we are removing this barrier and directly help their business. We sat down with our customers, listened to their concerns, and carefully crafted a solution which is easily accessible.”
FastPayment is part of a broader ecosystem of financial services for carriers offered by the Alpega freight exchanges, including an insurance service Payment Guarantee and an amicable Debt Mediation Service for transport providers. These two services mitigate the risk of non-payment by the debtor and can be requested fully online through the freight exchanges.
As a leading European freight and vehicle exchange for domestic and international routes Teleroute offers daily more than 350.000 opportunities for carriers to fill their trucks, create more business and reduce empty backhauls. The latter is in line with Alpega’s ambition towards a green mobility: Today, across Europe 40% of trucks on the road run empty, accounting for 20% of motorway congestion and dumping 120 million tons of CO2 into the environment annually. It would take 4.3 billion trees a year to offset this amount of emissions.