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Feb. 17, 2014

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www.joc.com THE JOURNAL OF COMMERCE 21 FREIGHT PAYMENT SPECIAL REPORT WHEN NEBRASKA-BASED DAYCOS began automating its freight invoice processes in the 1990s, most of its customer base of moving and storage companies weren't getting paid until 30 to 45 days after fi ling their invoices. Since then, CEO Brandon Day notes, Daycos' billing process has decreased to an average of four to six days on the 350,000 to 375,000 invoices fi led by its customers annually. "My customers now take it for granted," Day said, not only that the process will move smoothly and quickly, but that they'll have electronic data trails that make it easy to work out any billing Big banks are implementing new services to speed freight payments while allowing shippers to hold onto their money longer CA$H AND CARRY By Alan M. Field

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