| [November 09, 2005] |
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Builders Transportation Reaping the Benefits of Faster Billing; Flatbed carrier realizing significant cash flow gains with TRANSFLO Express(R) truck stop scanning
TAMPA, Fla. --(Business Wire)-- Nov. 9, 2005 -- For Builders Transportation LLC, moving freight is serious business.
That's why the Memphis, Tenn.-based flatbed carrier is so pleased with the business results they've realized since implementing TRANSFLO Express truck stop scanning from Pegasus TransTech six months ago. "TRANSFLO Express has eliminated the funny business involved with drivers turning in their documents late," said Dwight Bassett, chief financial officer for Builders Transportation.
Thanks to TRANSFLO Express, Builders Transportation has been billing daily for its 350-plus trucks operating throughout 48 states.
"TRANSFLO Express is a much more efficient and cost-effective process. It's simple, it works great, and drivers appreciate it," Bassett said. He also cited the ease with which scanned documents and support can be retrieved from the TRANSFLO Express website. "If there's ever an invoice- or payroll-related dispute, you simply go to the website and retrieve high-quality images of the documents in question."
Builders' decision to implement TRANSFLO Express stemmed from inconsistent wait times the company was experiencing in receiving drivers' trip documentation, which was slowing the billing process. After the terrorist attacks of Sept. 11, 2001, federal Homeland Security measures substantially increased that lag time, even with overnight envelope delivery services. Because of the delays, Builders officials found they could perform billing process only once a week, making it a difficult and time-consuming task for payroll and billing staff. The company sought a solution to speed up document delivery and allow them to bill customers more quickly--and reduce DSO.
Frank Adelman, senior VP of Pegasus TransTech, said the billing improvements at Builders are a reflection of Pegasus' ongoing commitment to positively impact the business performance of fleets of all sizes and types. "We are pleased that we have played such an important role in reducing DSO and improving cash flow for Builders Transportation," Adelman said.
About Pegasus TransTech - Pegasus TransTech is headquartered in Tampa, Fla. To speed up cash flow and reduce overhead, Pegasus TransTech provides customers with affordable in-house and out-sourced solutions that streamline billing, collections, payroll, A/P, and other paper-intensive processes. Fleets can choose either TRANSFLO(R), a complete in-house imaging and workflow system, or TRANSFLO ASP, an out-sourced imaging and workflow solution. These services are complemented by TRANSFLO Express(R), a document scanning service now available at nearly 400 truck stops nationwide. More information about Pegasus TransTech is available at www.transflo.com.
Builders Transportation Co., LLC is a family-owned and -operated flatbed motor carrier that operates throughout the 48 contiguous states, primarily in the eastern two-thirds of the United States. The Phillips family has operated the business since Frank Phillips purchased the six-truck operation in 1961. Builders currently operates over 250 trucks with Mr. Phillips as President with his three boys, Frank Jr., John Paul and Gene, as Vice Presidents. The family company has grown at an impressive rate by providing outstanding service to producers and consumers of coil steel, wire products, structural and sheet steel, aluminum products, building materials, cast iron and steel pipe. Builders is a core carrier for several Fortune 500 companies including U.S. Steel.
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