Corcentric and Riteload Partner to Offer Managed Payments to Carriers and Shippers on Platform

CHERRY HILL, N.J., Nov. 29, 2023 – Corcentric, a leading global provider of best-in-class procurement and finance solutions, announced today a partnership with Riteload, a freight matching platform for the trucking industry, to provide Managed Payments services for carriers and shippers.

Riteload’s platform, which matches shippers with carriers in a fully transparent marketplace, is the only freight matching platform that eliminates the broker model completely. In addition to putting more money in drivers’ pockets, it enables shippers to save time and money and control their own relationships.

“Partnering with Riteload, we are able to provide both carriers and shippers on their platform a fast and frictionless process by accelerating every step of the payment cycle,” said Matt Clark, president and CEO at Corcentric. “Not only does it save time and effort, but it also helps control payment terms and unlock cash flow across the industry. With our company’s roots embedded in the trucking space, we’re proud to team with Riteload to bring these dynamic services to their users.”

Corcentric’s robust Payments Solution combines technology, financing, and a managed services team to guarantee several meaningful business outcomes and the optimization of how businesses pay and get paid.

Corcentric will manage guaranteed electronic payments to all carriers booking through the Riteload platform and provide payment within two business days. Corcentric’s Payments Solution allows shippers to manage cash flow needs, including billing, collections, remittances, disputes, and discrepancies, and provides carriers with their own set of payment terms.

“Riteload is undergoing massive growth at warp speed on our mission to match shippers with carriers directly, saving them money by eliminating brokers, providing the best pricing for both,” said Matthew Kane, founder of Riteload. “Corcentric’s innovative Managed Payments solution and vast experience expediting transactions between shippers and carriers makes them an ideal partner as we strive for more efficiency, transparency, and equality in the trucking space.”