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How TrustedTrucks improves the proof of delivery process to solve the problem of delayed payments.
TrustedTrucks enables the carrier driver to submit a Proof of Delivery to the Platform instantly and get it approved by the forwarder dispatcher in no time. These proofs of delivery, once approved, are hashed to the blockchain on TrustedTrucks and serve as a verifiable precondition to payment. Using a smart contract, this verified record enables immediate payment, reducing traditional 2-4 week delays to less than 48 hours.
Without TrustedTrucks, a carrier delivers an order and then provides the proof of delivery papers to the forwarder via email or post. It may take weeks for the payment to be processed and made to the carrier. Small carrier businesses have little liquidity and lack access to capital, which makes this process much more important to their operations.
How does it work?
When the goods are delivered the driver takes a picture of the goods being handed over, takes a picture of the signed shipment manifest, and then uploads it to the TrustedTrucks platform.
Once it’s uploaded, into the TrustedTrucks platform everyone involved in the order, is notified.
And finally, the forwarder can review the Proof of Delivery.
Simultaneously, the carrier sends their invoice to the forwarder for approval too.
Once both the proof of delivery and the invoice has been marked as approved in TrustedTrucks, a payment is executed. (Rapid Payment functionality is coming soon.)
Payment will be completely automated and executed with a smart contract once the necessary conditions, PoD, and invoice approval, have been recorded on the blockchain. The traditional payment methods will still be available but they should be approved faster thanks to the streamlined approach for order management on our platform.
Key feature areas
- Immutable proof of delivery
- Uploading proof of delivery digitally via mobile at the point of delivery Instant processability
- Instant processability
How Digital Proof of Delivery works for Forwarders
This proof of delivery gives the forwarder the opportunity to pay the carrier on the same day.
How it works:
- Once the proof of delivery is uploaded by the carrier, the forwarder can approve or dispute the proof of delivery.
- From the “my orders” screen. The forwarder clicks on “review proof of delivery”.
- The forwarder reviews and approves the proof of delivery (If the proof of delivery is incorrect, then the forwarder can dispute the proof of delivery.) The resolution moves offline between the carrier and forwarder.
- The approved proof of delivery is hashed to the blockchain and payment to the carrier is triggered.
- In case of dispute, proof of delivery status is “disputed”. The payment will not happen on TrustedTrucks.
How Forwarders benefit from using Proof of Delivery
- Instant delivery notifications
- Reduced paperwork
- Pay the carrier faster – happier carriers (Rapid Payment functionality is coming soon.)
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