In order to use the service, German TIMOCOM customers simply need to register on the JITpay™ website. In TIMOCOM's Smart Logistics System, customers can access JITpay™'s invoice centre, where they can upload their receipt of delivery after completing an order. Invoicing then takes place digitally and automatically. For a small service fee, the money is transferred to the customer's account within 24 hours.
Especially in unstable times, long payment terms present great challenges for logistics companies, with the added burden of not knowing whether invoices will be paid at all. This is where the cooperation between TIMOCOM and JITpay™ provides a long-term solution. JITpay™ offers 100 per cent protection against defaults in payments and guarantees fast cash flow – even with long payment terms.
No dunning, no long waiting for payments: JITpay™ assumes both the risk and the accounts receivables management. Factoring thus relieves small and medium sized companies in particular of this task and is easy to use. Customers only have to register once and upload the receipts of delivery, and the rest is done for them entirely digitally.
"We are looking forward to working with TIMOCOM to improve transport industry processes. Payment processing and financing in logistics will increasingly take on a key role. Together with TIMOCOM, we can create significant added value for the market in this area," says Dr Daniel Steinke, Managing Director of JITpay™.
"The cooperation with JITpay™ is another important improvement in the services we offer," states Gunnar Gburek, Company Spokesman and Head of Business Affairs at TIMOCOM. "With this digital payment service, we help our customers solve one of their most crucial challenges: fast payment after the service has been completed."