[00:49] Please tell us about you and your company. I’m Robin Gregg, CEO of RoadSync. We are a payments company located in Atlanta, Georgia. Our goal is to make payments faster and simpler for the logistics industry. I grew up in West Virginia and went to Washington and Lee University. After, I got my MBA from Harvard Business School. My career started at Capital One and have worked with several fintech startups. I had been advising a company in Atlanta that was focused on helping warehouses invoice and accept payments from truck drivers. I saw the product and was struck by how paper-based the process used to be. There was a huge opportunity, so I rebranded the company and we’ve been growing ever since. [04:27] Tell us a little bit more about fintech (financial technology) in Atlanta.
All the big payments processing giants are in Atlanta. 80% of payments processing is here. It’s a fantastic place to be in this business. The talent pool is excellent and there are lots of tax advantages. [07:45] While we were prepping for this interview, I said that I thought everyone was using some sort of technology or automation for payments, but you explained that is not the case. So, what’s so wrong about using a paper process?
It’s a slower workflow because, for example, you might have to hand write things. It’s slow to process, and drivers can get stuck. There are more opportunities for errors. More opportunity and instances of employee theft/fraud. The extra work and disorganized process can cause cash flow problems Using paper can hurt your company’s perception because the industry is undergoing a technology makeover. Many carriers, 3PLs, and digital freight brokers have upgraded to faster, easier payments through technology. The technology products in the logistics industry have gotten a lot better over the last few years. The experience is much more user friendly, but that’s a relatively new innovation. [12:20] Why isn’t everybody just upgrading right now?
There are so many challenges that companies in this industry are grappling with. Automating some of their business processes can’t always be the top priority because owners are focused on their main objective. [15:19] What is the process a warehouse or food distribution center needs to go through to get set up with RoadSync?
We typically get them to see a short demo. This helps them internalize how they can use it and how it fits into their business process. We also configure the rate schedule based on how they charge for things, as well as setting up the desired payment methods. The system can be up and running in about thirty minutes. There is no crazy upfront charge; just a monthly fee and then a percentage of each payment. It’s easy to see a return on investment. We have clients who were previously losing 4-10% due to negligence. [19:59] I really like that you specialize in transportation and logistics.
We think it’s important to customize our service offering towards logistics. This industry operates uniquely, and we think it’s important that the products which serve the industry understand that. Learn More:
Robin Gregg LinkedIn profile: RoadSync: RoadSync on Twitter:
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