OTR Solutions Expands Fintech Portfolio with Acquisition of Epay Manager, A Back-Office Automation and Carrier Payments Platform for Freight Brokers

ATLANTA, Feb. 6, 2024 /PRNewswire/ -- OTR Solutions has acquired Epay Manager, a carrier payments platform which allows freight brokers to reduce costs and increase efficiencies of their back-office operations, while providing a new level of transparency to their carrier, factor, and shipper partners. Epay Manager offers its broker customers increased control of financial transactions through its innovative "Audit Proof Invoicing" system, which automates carrier document collection to ensure a seamless and accurate customer billing experience. Epay's solution for freight brokers joins an already robust suite of logistics-focused fintech products offered by OTR Solutions, furthering the company's mission to create exceptional value for its customers through industry leading financing and back-office solutions.

"The acquisition of Epay Manager reflects our commitment to our ongoing mission of bringing value-enhancing solutions to the logistics industry," said OTR Solutions CEO, Fritz Owens. "We are extremely excited about both the talented team and best in class back-office automation and carrier payments technology that will now be part of OTR's suite of offerings to brokers."  

 OTR Solutions will leverage Epay Manager's robust portfolio of valuable integrations with transportation management systems (TMS), which allow brokers to implement back-office automation with unrivaled transparency for their carrier partners. This in turn significantly reduces the cost associated with processing carrier invoices—eliminating carrier payment discrepancies, minimizing the freight bill audit process, and improving the overall productivity of broker back-office teams.  

The acquisition combines Epay Manager's revolutionary approach to carrier relationship, invoice, and payments management with OTR Solutions' robust working capital and suite of solutions. Epay Manager gives brokers opportunities to cultivate more positive connections with their carriers through prompt and undisputed payments. 

"With this new offering, freight brokers will not only boost operational efficiency but will also foster more positive, collaborative relationships with carriers and factors" said OTR Solutions Chief Operating Officer, Grace Maher. "At OTR, we recognize the pivotal role of robust carrier relationships in accessing capacity, and the acquisition of Epay Manager gives brokers opportunities to cultivate these connections." 

Epay Manager reduces broker operating costs by processing invoices with more efficiency and accuracy. Its existing integrations with widely used TMS platforms like McLeod, Aljex, and others, enable streamlined AR and AP processes between brokers, carriers, factoring providers, and shipper customers. The acquisition provides brokers with capabilities unrivaled by others in the market today. 

"What is truly unique about the Epay platform is that it has been hardened by decades of customer feedback and iteration, the result of which is a robust, scalable, and highly efficient product that provides tangible cost savings and new revenue opportunities for freight brokers," said OTR Solutions EVP and Chief Strategy Officer, Clayton Griffin. "Epay was founded and built by front-line industry participants, forged from the pain of real-world experience, and it shows. Trucking and logistics is in Epay's blood, and we can certainly relate to that." 

Brokers seeking to optimize and scale their back-office operation without spending excessive amounts of time and money on technology and personnel can schedule a demo and begin processing invoices in as little as two weeks. TMS providers interested in building an integration with Epay Manager can do so in as little as 30 days with the platform's advanced open API's. Carriers and factoring providers seeking a broker on the Epay Manager platform can simply create an account to take advantage of the available offerings.  

"Combined with our existing cash flow and AI-driven freight audit products, the solution is now the most complete and compelling back-office automation and carrier payments platform in the industry," said Owens. 

Brokers, carriers, and factoring providers can learn more about the advantages of Epay Manager Powered By OTR Solutions at www.epaymanager.com or call (470) 924-2894 to speak with a representative.

Argonite Partners served as sell-side financial advisor and Armstrong Teasdale LLP as sell-side legal advisor. Harris Williams LLC served as financial advisor and Eversheds Sutherland LLP served as legal advisor to OTR Solutions. 

About OTR Solutions  

Founded in 2011, OTR Solutions is a full-service freight factoring and transportation technology company that leverages easy-to-use systems to provide reliable cashflow, back-office support, and operating solutions to U.S. based carriers and brokerages of all sizes. OTR has over 350 employees, headquartered in Roswell, Georgia. To learn more about OTR Solutions' portfolio of fintech solutions, please visit www.otrsolutions.com. 

SOURCE OTR Solutions

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