Award Recognizes Operations and Working Capital Management Platform Implementation for Indiana Third Party Logistics Firm
Atlanta-based BAM, a leader in providing cash management and working capital solutions to the transportation industry, was today named to the Supply and Demand Chain Executive (SDCE) Magazine’s 2017 Top 100 Projects list. This recognition acknowledges work BAM did in implementing its BAMwire™ cash management platform for FreightCo, a Fort Wayne, Indiana-based third party logistics company. BAM’s proprietary easy to use software and operations platform, BAMwire, helps transportation companies gain easy access to capital and technology to book loads more quickly, reduce days-to-pay, improve credit scores, and build stronger carrier relationships while increasing cash flow. BAM is revolutionizing the traditional funds transfer and advance process in the freight transportation industry.
FreightCo co-founder Brad McDonald had grown frustrated with his bank’s lack of interest in providing small brokerage firms like his financing options to pay carriers faster. After installing BAMwire, FreightCo had immediate access to a line of credit, and gained financial management tools needed to optimize revenue, load count, gross margin and net income. As a result, FreightCo experienced a revenue per employee increase by 260 percent, a 62 percent increase in gross margin, a 35 percent increase in production per broker and an 11- day reduction in “days to pay,” a key measure of cash flow.
“Our work with FreightCo has been a great success story, both for them and for us,” said Todd Ehrlich, BAM chief executive officer. “We are thrilled this project was recognized as one of SDCE’s top software projects for the year.”
The SDCE 100 is an annual list of great supply chain projects, which serve as a map for supply chain executives looking for new opportunities to drive improvement in their own operations. These projects show how supply chain solution and service providers help their customers and clients achieve supply chain excellence and prepare their supply chains for success. “Our goal with 2017’s Top 100 is to shine the spotlight on successful and innovative transformation projects that deliver bottom-line value to small, medium and large enterprises across the supply chain,” said Ronnie Garrett, SDCE editor.
BAM is a leading provider of cash management and working capital solutions for 3PLs, committed to helping clients increase their financial performance through operational efficiency. BAM’s proprietary payment processing and cash management engine, BAMwire™, allows brokers to book loads more quickly, reduce days to pay, improve credit scores and build stronger carrier relationships while increasing cash flow. Unlike traditional bank lending or factoring arrangements, BAM uses industry specific technology to improve the experience for brokers and carriers. www.bamwire.com.
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