Princeton TMX partners with Loop for freight audit and payment

Princeton TMX, a leading multi-modal transportation management system (TMS) provider, today announced a strategic partnership with Loop, a modern audit and payment platform for the next-gen supply chain. The partnership helps shippers unlock profit trapped in their supply chain by providing complete supply, shipment and spend data to automate core transportation workflows like freight audit, pay, procurement and planning.

Princeton TMX’s multi-modal TMS automates complex transactions by simplifying the entire transportation planning and execution process, providing shippers with better rates, better lanes and lower risk. Partnering with Loop connects Princeton TMX customers to Loop’s logistics AI platform to get complete spend visibility, automate invoice processing, and optimize transportation spend to reduce margin and increase working capital.

“With Princeton TMX and Loop, shippers have access to a robust TMS and an AI-driven freight audit and payment solution that not only automates critical transportation processes but provides greater visibility into their transportation costs,” said Mark McEntire, CEO, Princeton TMX. “Using this data, shippers can ensure they leverage the right carriers and discounts for the right lane, volume and service type.”

Loop’s platform unifies shipment and spend data from any format and any source to boost visibility and accelerate the movement of money between shippers, carriers, and brokers. With automated cost allocation, shippers can make every decision based on spend. Loop’s self-serve analytics surfaces savings opportunities at the invoice, contract and network level so teams make the most of every dollar in their transportation budget. Princeton TMX customers can now boost audit accuracy, better manage exceptions, and automate GL coding across any shipment type to improve efficiency and financial compliance.

“Better payment data leads to better decision-making,” said Matt McKinney, CEO and co-founder of Loop. “Together, Loop and Princeton TMX provide a premium dataset that propels shipper growth by helping them understand the full picture of the ‘true cost of logistics’ and the landed costs of a customer's products, as well as how to better execute the profitability of future freight.”