U.S. Bank Introduces Ways to Enhance Carrier Cash Flow and Keep America’s Supply Chains Moving
June 10 2020 - 10:22AM
Business Wire
U.S. Bank has introduced two new innovative features for freight
carriers using its proprietary U.S. Bank Freight Payment platform:
Cash Manager, an interactive dashboard that provides drill-down
visibility into receivables, and Quick Pay, an accelerated payment
option for select invoices.
Cash Manager
The new Cash Manager dashboard allows carriers – companies that
transport goods across the U.S. – to see where their invoice
receivables are in the payment lifecycle, from submission to audit
to payment. This multi-dimensional view provides carriers with
actionable insights to make better-informed decisions and forecast
their cash flow with more accuracy, improving their overall cash
cycle management.
Quick Pay
Quick Pay gives carriers who are paid according to contracted
terms – typically anywhere from 45 and up to 90 days – new
flexibility to accelerate cash flow when needed. Invoices eligible
for Quick Pay are visible in the Cash Manager dashboard, and
carriers can choose the payments they want to accelerate for a fee.
Carriers can choose to be paid upon invoice approval, and can
potentially receive payment by the next business day. U.S. Bank –
one of the highest-rated banks in the world and one of the
Ethisphere® World’s Most Ethical Companies® – provides the secure
and reliable payments.
These new features provide carriers the tools they need to
effectively and efficiently manage and increase their cash flow so
they can focus on other aspects of running their businesses.
“Now more than ever, carriers need ways to accelerate their cash
inflows,” said John Hardin, General Manager, Transportation,
Corporate Payment Systems, U.S. Bank. “At U.S. Bank, we
continuously invest in innovative solutions that help our customers
securely optimize their cash flow and streamline their operations.
Our new Cash Manager dashboard and Quick Pay features offer
carriers new ways to better inform their short- and long-term
decisions and overall business strategies.”
About U.S. Bank
U.S. Bancorp, with more than 70,000 employees and $543 billion
in assets as of March 31, 2020, is the parent company of U.S. Bank
National Association, the fifth-largest commercial bank in the
United States. The Minneapolis-based bank blends its relationship
teams, branches and ATM network with mobile and online tools that
allow customers to bank how, when and where they prefer. U.S. Bank
is committed to serving its millions of retail, business, wealth
management, payment, commercial and corporate, and investment
services customers across the country and around the world as a
trusted financial partner, a commitment recognized by the
Ethisphere Institute naming the bank one of the 2020 World’s Most
Ethical Companies. Visit U.S. Bank at www.usbank.com or follow on
social media to stay up to date with company news.
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version on businesswire.com: https://www.businesswire.com/news/home/20200610005539/en/
Kristin Kelly U.S. Bank Public Affairs & Communications
303.585.4129 kristin.kelly@usbank.com
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