Before Walmart Canada deployed blockchain technology to pay trucking companies, the company and its carriers were often bogged down by invoice disputes. Up to 70% of invoices had some sort of issue where numbers didn’t align with company expectations.
The results were not good. Walmart personnel would lose time sorting out the long list of charges that go into each load. Meanwhile, payments to carriers were delayed.
“Life was a bit rough in terms of processing payments,” recalled Francis Lalonde, Walmart Canada’s vice president for transportation. “You want to process them on time. The carriers want to get paid on time.”
So Walmart turned to DLT Labs, a Toronto-based startup, and deployed a customized version of its freight invoice and payments system. By the end of August, the system had processed over 150,000 invoices, with fewer than 2% resulting in disputes. Read more, here.