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Modernizing the payments process at J.B. Hunt

Carrier working with U.S. Bank on payments solutions

John Kingston
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Photo: FreightWaves

This fireside chat recap is from FreightWaves’ Supply Chain Meets FinTech event on Wednesday.

FIRESIDE CHAT TOPIC: The financial supply chain.

DETAILS: J.B. Hunt and U.S. Bank are working together to provide a better payments solution for Hunt customers. Jeff Pape of U.S. Bank sits down with Amy Horn of J.B. Hunt to discuss the changing market for payments solutions. 

INTERVIEWER AND SPEAKER: Amy Horn, director of intermodal pricing at J.B. Hunt, is interviewed by Jeff Pape, general manager of transportation, corporate payment and treasury at U.S. Bank. 


BIO: Horn has been with J.B. Hunt since 2004. She has held various positions in collections and payments at the carrier and most recently was a director of finance, responsible for the receivables activities for the company’s 300 largest accounts. She also was deeply involved in system modifications and new technology expansion for those activities.

KEY QUOTES FROM HORN: 

“Transportation finance for years has been a very manual industry from a receivables perspective, from invoice generation all the way through to collection processes. When COVID hit we saw a little bit of change to that perspective. We had customers that sent their employees home, so there was no one there to gather invoices and start processing them. That allowed us to start transitioning to a more modernized format.”

“We are currently working with U.S. Bank to see how API invoicing can be able to help solve challenges. APIs can be done at any point in time during the day. If there is a failure, it only impacts the invoices that caused the failures. All other transactions are able to be forwarded quickly to the party receiving the invoice.”


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One Comment

  1. Michael Hodson

    Scott, what a great discussion with Amy Horn, and JB Hunt. I was particularly impressed with You Send, We Map. It is great to hear that this has been successfully implemented. It is also great to hear the work being done with API invoicing, It is clear that USB has made significant investments in the carrier side of the payments business equation.

    Nice job of putting this together!

    Mike

Comments are closed.

John Kingston

John has an almost 40-year career covering commodities, most of the time at S&P Global Platts. He created the Dated Brent benchmark, now the world’s most important crude oil marker. He was Director of Oil, Director of News, the editor in chief of Platts Oilgram News and the “talking head” for Platts on numerous media outlets, including CNBC, Fox Business and Canada’s BNN. He covered metals before joining Platts and then spent a year running Platts’ metals business as well. He was awarded the International Association of Energy Economics Award for Excellence in Written Journalism in 2015. In 2010, he won two Corporate Achievement Awards from McGraw-Hill, an extremely rare accomplishment, one for steering coverage of the BP Deepwater Horizon disaster and the other for the launch of a public affairs television show, Platts Energy Week.