Transportation fintech provider OTR Solutions announced Tuesday it has acquired back-office automation solution Epay Manager. The terms were not disclosed.
The acquisition signifies a strategic decision propelled by Epay Manager’s audit-proof invoicing system, a feature that OTR highlights as setting it apart from other carrier payment management tools. By integrating Epay Manager’s capabilities into its logistics-focused fintech products, OTR says it is building on its commitment to delivering value-enhancing solutions to the transportation and logistics sector.
Epay Manager is currently integrated into TMS platforms including McLeod, Aljex, DAT Keypoint, Oracle, Tai Software and others.
OTR aims to capitalize on Epay Manager’s longstanding TMS relationships, which include brokerage connections within Epay’s network, as it expands its financial solutions for carrier and broker clients. This broadened market presence boosts OTR’s standing in the transportation fintech industry and fosters synergies between its carrier-oriented services and Epay Manager’s broker-centric solutions.
“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,” Clayton Griffin, OTR Solutions EVP and chief strategy officer said in a news release.
Over the past few years, OTR has focused many of its technology efforts on providing a suite of tools for carriers to help manage their businesses’ back offices.
OTR Solutions rebranded in 2022 to reflect the company’s commitment to supporting small carriers and fostering collaboration within the transportation ecosystem. Since then, it has launched several products for its carrier market, including Bolt, a direct-to-debit payment product, as well as a driver safety rating scorecard and a fuel finder integrated with the mobile app. This feature allowed carriers to locate optimal fuel discounts with the OTR Fuel Card along their designated routes, further enhancing their operational efficiency and cost savings.
At the time, it also unveiled Elevate, an offering providing carriers a platform for branded website domains and customizable websites.
Most recently, in August 2023, OTR launched OTR Clutch, the first banking solution built specifically for carriers.
Tuesday’s acquisition will allow OTR to facilitate improvements in invoicing from its brokerage clients.
“With this new offering, freight brokers will not only boost operational efficiency but will also foster more positive, collaborative relationships with carriers. … 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,” said Grace Maher, OTR Solutions’ chief operating officer.