Digital supply chain ecosystem Transflo announced on Wednesday that it has appointed software-as-a-service veteran Cameron Eastman as chief financial officer to help position the company for its next stage of product development.
In December, Transflo received a minority stake from Bregal Sagemount with the aim of “accelerating [its]go-to-market engine” and “moving forward with more aggressive M&A [mergers and acquisitions]strategy,” according to Phil Yates, partner at the growth-focused investment firm.
The company has since built a roster of supply chain, SaaS and financial services veterans to prepare for this aggressive investment strategy. Role changes included CEO Renee Krug (GlobalTranz), President and Chief Revenue Officer Bill Vitti (Truckstop.com), Senior Vice President of Growth Mario Duckett (MetaSource), Vice President of IT and infrastructure manager Scott Gray (Nielson) and chief product officer Justin Roi (Visa/Comdata/Fleetcor).
In an interview with FreightWaves, Eastman describes the new leadership and investor relationships that led him to join the Transflo team and acknowledges the important relationships with carriers and brokers dedicated to the business that he says will contribute to motivating this hypergrowth.
This Q&A interview has been edited for clarity and length.
FREIGHTWAVES: What attracted you to this position at Transflo?
ISMAN: “I like to find companies that are well positioned in their sector. Transflo has been around for 30 years and has a great product and lots of opportunities to grow that product. I see a lot of rising costs for fuel and labor, and I see more opportunities to expand technology into this space to address these issues.
“I think automation is an area where Transflo’s service fits perfectly. One of the areas we’re investing heavily in is in our new platform, Intelligent Automation, which is our new platform that will allow people to add machine learning AI to their automation data processes. of back office. There will be a great opportunity to leverage this market data to provide insights to brokers, carriers and shippers.
“Overall, what got me excited about Transflo was the industry opportunity, especially in an industry that has lagging technology. We have three strong backers [that]we are excited about the future of this industry and future investment opportunities.
FREIGHTWAVES: Are there any other areas where you could see Transflo creating more solutions, particularly in your financial services experience?
ISMAN: “Where I see the greatest value is an end-to-end technology platform connecting all points in the supply chain. We want to provide a shipping startup with a data tracking, invoicing and creation of bills of lading.
“Today, we have 3.2 million mobile downloads from operators. We process $115 billion in freight spend annually. So there is a lot of data that we can use to provide insights. Eight of the top 10 brokers also use Transflo, and we have 81% of the top 250 carriers. So I think Transflo is in a unique position in the market not only to provide smart automation, but also to provide really interesting market data and insights. »
FREIGHTWAVES: How do you think the recent restructuring might impact the value of the product for customers?
ISMAN: “Our goal is to go into hypergrowth mode now. We have a lot of new ideas now, but we also have Don Burke, who has known the business for 25 years, and he is our COO. We have new opportunities on which to we can grow and become a major player in the supply chain, as well as existing talent that can help our business move forward.
FREIGHTWAVES: Is there anything in particular about your role or your expertise that you are looking forward to with your new team?
ISMAN: “I bring to the table a lot of deep experience in technology and SaaS and how to leverage best practice investment strategy to ultimately deliver more value to our clients. You layer that on top of our investor relations and I think we have a winning team.
“Furthermore, I look forward to bringing carriers, brokers and factoring operations closer together. All of these parts coming together and then being able to serve each of them and give them a more automated solution will be powerful. »
FREIGHTWAVES: It’s National Trucker Appreciation Week. In your new role, do you plan to provide better solutions to improve the carrier experience?
ISMAN: “Carriers are an important part of the supply chain, and what I love about our existing solutions is that carriers recognize the value that Transflo brings through the amount of penetration we have in top carriers in industry.
“We will be looking for ways to continue to solve the problems of these trucking leaders, to continue to deal with rising costs and to offer them alternatives to improve their bottom line and provide them with a more automated solution in the future. “
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