Transport Exchange Group recognises that its members must be feeling a tremendous sense of pressure and uncertainty regarding Coronavirus and its potential effect on the economy.
Our team wishes you and your loved ones good health during this time. We are closely monitoring developments and will keep you updated.
CEO and Founder of the Exchange, Lyall Creswell, has shared a few words on how we can all pull together as a trading community to support our members.
“Dear Member,
I write to you to offer you our full support at this time of unprecedented uncertainty and anxiety. Although we expect trading volumes on the Exchange to remain robust for the present, we are mindful that some of our member businesses will come under increasing pressure as the economic situation deteriorates.
As a trade community it is critical that we all play our part in helping each other to weather the crisis and pull through this together. Going forwards, I respectfully ask you all to consider implementing the following actions:
Those of you who are posting sub-contract work on the Exchange, please ensure that you pay your suppliers on time. Better still, if you are able to pay them earlier then please do so – the future of our industry depends upon the health and survival of suppliers.
Given the inevitable cash flow crunch in the wider economy, please be extra vigilant about the credit terms you extend to your end customers ‘off Exchange’.
Try and go completely digital with your workflow and POD process – this is the time to ask your end customers if they really need hard copy PODs and invoices when an electronic image scan could suffice. This will increase the efficiency of the whole supply chain and ensure that quicker payment terms and reduced costs can be achieved for everyone. In addition, this will help to reduce the inherent health risk of drivers spreading the virus when they pass pen and paper around multiple times during the day for those still using manual PODs.
On a more general note, please take a few minutes to review our Rules, Regulations and General Policies of the Exchange. These now become more important than ever.
Please rest assured that our service will continue as normal throughout this period. We are fully geared up for our staff to work remotely if necessary. We have also accelerated the next phase of our off-site call handling operation which is now able to resolve the majority of your general enquiries.
We will continue to investigate other ways to support our members as the situation develops and will keep you posted regularly.
Myself and the entire team stand with you at this very challenging time and wish you all the very best”.
Warm regards,
Lyall Cresswell
Founder & CEO of Transport Exchange Group
The article was published on . It was updated on 2 December 2024 to make it more relevant and comprehensive.
