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5/8/2003
Rail News: Rail Industry Trends
BNSF offers online invoicing system to transload partners
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Burlington Northern Santa Fe recently launched eCASH, a Web-based invoicing system designed to make it faster and easier for the railroad's transload partners to obtain payment.
Transload firms can electronically create an invoice, monitor payment status, reconcile transaction details and research past invoices on the system. The companies also can gain access to previously unavailable data, such as a car-inventory list and cars eligible for payment, and dispute payments online.
The system will enable BNSF to process payments more consistently and securely, as well as tighten the railroad's accounting controls and improve cash flow, says Aaron Self, manager of BNSF's liability rating group, in a prepared statement.
By August, BNSF expects 130 transload companies to use eCASH.
Transload firms can electronically create an invoice, monitor payment status, reconcile transaction details and research past invoices on the system. The companies also can gain access to previously unavailable data, such as a car-inventory list and cars eligible for payment, and dispute payments online.
The system will enable BNSF to process payments more consistently and securely, as well as tighten the railroad's accounting controls and improve cash flow, says Aaron Self, manager of BNSF's liability rating group, in a prepared statement.
By August, BNSF expects 130 transload companies to use eCASH.
