How Spedition Fendler cooperates with JITpay™.
Our consultant Moritz Beisegel regularly visits our customers to talk to them about the current situation. He recently dropped in on the managing director and owner of Fendler Klaus Transport from Edling, who has been using JITpay™ since April. The two talk about his first impressions of working with JITpay™. In the meantime, his haulage company has been able to put initial doubts to rest.
The third-generation company was founded in 1945. With 20 trucks, it is a real traditional company in Upper Bavaria. Managing Director Josef Fendler became aware of JITpay™ through a report in SVK, the magazine of the Bavarian Association of Transport and Logistics Companies (LBT), but was initially unsure: “I am a sceptic. In industry, hedging the risk of default is already common practice, but in logistics there are still many prejudices. JITpay™ specialises precisely in this industry, so I wanted to take a closer look and gather my own experience.”
Especially in the current economic situation, where the number of zombie companies is increasing, the risk of failure is also rising. “Due to the risk that a client might not pay, you think twice before taking a tender. Especially if you don’t know the client, you have to expect that the bill will be paid late, or in the worst case not at all,” Fendler describes one of the bigger challenges in the industry. By taking on this risk, JITpay™ makes it possible for companies to make these journeys without jeopardising their own liquidity. “It simply allows us hauliers to do more of what we actually want to do: Transport goods and commodities at a fair freight price.”
Honest and cooperative dealings
JITpay™ also takes over receivables management if the payment deadline is not met. “I had to be convinced of this first. Customer loyalty is important, which also includes direct exchange when a payment is not made. JITpay™ handles this in a very cooperative way. If there are problems with a payment, they also seek contact with me. They help to find a solution that helps all sides. In the meantime, I am grateful for that: My customers find it better to work with a fair mediator on an equal footing first than to go straight to a tough debt collection agency. That would disrupt the business relationship for everyone involved. That’s a difference to traditional financial service providers.”
The workflow is also uncomplicated: “We usually invoice the customer very quickly after the order has been fulfilled. Once this is with JITpay™, it doesn’t take a day, then I have the money in the account. You can say 48 hours after the order is fulfilled, we get our money, that’s for sure.” Open questions are also clarified on the same day the invoice is issued.
But now Josef Fendler and Moritz Beisegel are talking about the future of the cooperation, because the freight forwarder wants to expand it. With JITpay™, as a partner on an equal footing.
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JITpay™ stands for Just In Time pay!
JITpay™ is a payment service provider specialised in the logistics industry.
JITpay™ pays your outgoing invoice within 24 hours and optimizes your commercial processes.
From order receipt to invoicing: JITpay™ provides not only immediate payment but also a complete transport management system:
With JITfleet™, orders can be managed quickly and easily: From the digital delivery receipt to automatic invoicing with immediate payment. If desired, JITpay can handle the entire commercial process.
In addition, JITpay™ bundles the billing processes for the clients. Within the framework of central accounting (ZAL®), JITpay™ takes over the accounting of all logistics costs for the client and combines them into a single invoice. JITpay™ combines this with a specially developed (reverse) factoring programme that enables immediate payment of contractors and flexible payment terms for clients.
Enough of long payment terms – Yes we pay!