A blog post by Deniss Bogdanovs – Business Development Officer at PayPugs
Thanks to globalisation we’re able to source and import goods from across the world, meaning we have more variety to choose from, better and/or cheaper solutions, exposure to products that we would never have otherwise, and access to larger markets. As a result, almost everything we own comes from abroad: from the clothes we wear and the food we eat, to the car you drive and the electronic device you’re reading this on.
Logistics companies make this possible and their job is to make sure that the goods arrive on time and in good order, but logistics companies are also often seen as high-risk by retail banks. Most notably, businesses whose target market includes Russia, CIS, African and LATAM countries seem to have the most challenges with retail banks.
The major reasons why retail banks may regard logistics companies as high-risk are that they work in areas where sanctions, war, or an unsafe political environment may exist — or may occur at a moment’s notice — and may include other elements as well such as the health regulations around the coronavirus pandemic. Unfortunately, these are things people can’t always foresee and companies that have been doing business in a normal way with no problems for the past 20 years can suddenly become high-risk.
This is just a small part of the challenges that logistics companies face on a daily basis. Larger companies with long and complex delivery chains have to surmount enormous obstacles dependent on a number of variables such as the distance, the type of transport needed, the time constraints, etc.
The irony of the situation is that if companies had been provided with an efficient, secure and transparent way of paying, invoicing, tracking CMRs and transferring money across borders, they would already have solved many of their challenges. PayPugs offers logistics companies exactly that: a better, more personalised approach.
Personalised customer service.
We take a personal interest in you and your business and we understand 21st century business needs.
As a result, we can get you up and running quickly. We’ve helped hundreds of businesses to open accounts, whilst staying compliant.
Remote service with a smile
Because many retail banks still require you to physically come to a branch, by appointment, to open an account, sign papers, etc. the current pandemic and subsequent health regulations have complicated matters even more.
The retail banks are not able to provide the flexibility their customers currently need. In contrast, we conduct all our business via telephone and post eliminating these problems.
How our services can help the logistics sector.
Our secure digital payment system allows you to make and receive payments instantly regardless of location or currency, saving you time and effort. Blockchain technology means that you’ll no longer have to search for invoices to make sure that they are paid on time and you’ll have all your invoices and CMR transport documents in one place.
We provide online tracking of your cargo and digitalisation of your loads. Our automated system will send your partners and carriers confirmation of receipt of all documents together with the payment dates.
You can set up regular payments too, so that your drivers, captains, and 3PL partners providing logistics will automatically be paid. If you wish you can provide them with virtual or debit cards for their business trips.
We are much more than just an Internet bank.
We can help you with a wide range of services from opening accounts on many continents, obtaining a certain type of licence for your business to implementing a payment system.
And, because we’ll provide you with personal communication and customer care it means you won’t have to explain your situation to a new person each time.
To find out more about setting up a PayPugs account, arrange a call with me here.