Openforce Announces Partnership with OTR Solutions
Openforce + OTR Solutions
Partnership provides financing to transportation businesses before receiving payment from retail customers.
When we heard some transportation clients aren’t receiving payment from their customers until 45 days after completion, we were excited to partner with OTR Solutions to bridge that gap in cash flow.”
PHOENIX, AZ, UNITED STATES, October 25, 2022 /EINPresswire.com/ -- Openforce, the leading software platform for managing payments and commercial relationships between contracting companies and their 1099 independent contractor (IC) workforces, today announced its partnership with OTR Solutions, the transportation industry’s leading financial services company. — Wendy Greenland, Openforce CEO
Transportation companies often struggle to receive prompt payment from their retail customers, leaving them financially stretched and often unable to pay ICs on time. The partnership with OTR allows Openforce qualified clients to receive funds in advance of payment from their retail clients, eliminating this financial burden while providing reliable payments to ICs.
Wendy Greenland, CEO of Openforce, spoke about how partnering with OTR Solutions will benefit their clients. “Openforce exists because many companies rely on independent contractors to keep up with demands or expand their services. It’s our job to keep a pulse on their business challenges and offer solutions for them. When we heard that some of our transportation clients aren’t receiving payment from their retail customers until upwards of 30-45 days after completion, we were excited to partner with OTR Solutions to help bridge that gap in cash flow.”
Clayton Griffin, EVP and Chief Strategy Officer of OTR Solutions, spoke about their recent partnership with Openforce. “As a leading resource for working capital, we are thrilled to partner with Openforce. Our companies have similar missions in providing exceptional value to our clients when utilizing our resources to help them grow their businesses. We respect Openforce’s position as a technology leader for the transportation industry and look forward to offering this critical benefit to their clients.”
About Openforce
Openforce® is the leading software and payment solutions platform that reduces operating costs and mitigates compliance risk for companies using independent contractors. Openforce frees contracting companies from the burden of onboarding, contracting, and settlement processing while helping independent contractors build their businesses. Our cloud-based applications allow companies to achieve more sustainable, profitable growth by removing financial, operational, and compliance barriers to getting business done. Openforce is a portfolio company of Boston-based private equity firm Riverside Partners. Learn more at www.oforce.com.
About OTR Solutions
OTR Solutions provides industry-leading technology and financial services, tools, and support to help carriers and brokers start and grow a successful operation. Trucking companies and freight brokerages of all sizes turn to OTR to receive reliable financing and back-office solutions, a dedicated fuel team, up-to-date news and education, and technology and innovation to prepare them for anything and everything. As a testament to its growth, OTR has been named in the Inc. 5000 multiple years in a row and strives to improve the work experience for its employees as a Top Workplace in 2017, 2018, 2019, 2020, 2021, and 2022 as named by the Atlanta Journal-Constitution. Learn more at www.otrsolutions.com.
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