HubTran Launches Invoice Intelligence for Factors

HubTran, an automation platform for the transportation industry, launched Invoice Intelligence, its newest product for factors. This product was designed to eliminate errors and fraud, allowing factors to get paid faster and more completely. Invoice Intelligence is meant to empower factors with the information they need to make the right purchasing and verification decisions.

Invoice Intelligence combines direct debtor TMS integrations with machine learning models trained on millions of payment outcomes and billions of documents to automatically flag issues like abnormal lane rates and information mismatches. Invoice Intelligence’s artificial intelligence automatically spots discrepancies so factors can stay ahead of increasingly sophisticated fraud, along with more routine errors that lead to slow- and short-payment. These new tools are wrapped in a new workflow for pre-purchase verifications.

“Now, factors never have to guess which invoices need their attention,” Tom Durrenberger, vice president of factors at HubTran, said. “Invoice Intelligence enables them to do more verifications and the right verifications every time.”

“With Invoice Intelligence, factors decrease risk, increase profits and position themselves to win in the market,” Matt Bernstein, CEO of HubTran, said.

Invoice Intelligence arms factors with two main tools: Invoice Surveillance and Verifications Workflow.

Invoice Surveillance integrates directly with the HubTran processing platform to identify abnormal lane rates, compare invoice details to debtor data in real time, and flag missing documentation and information mismatches.

Verifications Workflow streamlines the verification process, with deep automation and smart prioritization. It is fully integrated with HubTran’s Verifications service, which features direct TMS integrations with hundreds of debtors.