In the age of automation and digitization, logistics has traditionally lagged behind other industries. Atlanta-based RoadSync is working to modernize the logistics industry by offering fast, convenient, and secure payment solutions.
“By making the payment process digital and instant, we now simplify payment activities, reduce the payment processing time, and maximize revenue collection for our customers,” said RoadSync CFO Kevin Phillips. “We help our customers grow their bottom line and protect themselves with better operations through technology.”
RoadSync’s flagship product, RoadSync Checkout, provides a specific solution for warehouses and heavy-duty repair and tow businesses, to simplify the payment process through the invoicing and payments platform. This allows RoadSync customers to ensure they are paid fast, fairly, and securely so they can get truckers back on the road to deliver necessary goods across the United States.
“RoadSync is unique in the sense that we are the first in the space to see the opportunities and create solutions that fit the needs of our customers,” said Phillips. “This industry has traditionally been underserved by technology solutions that fit their exact needs. As [RoadSync] CEO Robin Gregg has said, ‘The logistics industry is the backbone of our economy. It needs – and deserves – better financial products.’ We’re happy to be the first to identify the opportunities and create solutions, especially with the increasing demand due to COVID.”
RoadSync is crossing the chasm from a small startup to a rapidly growing mid-size company. As such, their focus has shifted from building and selling a solution for the customer to building more structure. For this reason, Phillips has taken the reins as the first CFO for RoadSync, five years after its initial launch.
“In the early stages of building a product and proving product-market fit, a CFO is not always necessary because having to focus on the back office is a high-quality problem,” said Phillips. “However, we have proven that we can build a product, and we have proven that customers will buy our product. It’s now time to expand our focus to include the back office in order to address our new set of challenges in scaling the business.”
As CFO of RoadSync, Phillips intends to focus on improving payment operations and pricing structure, as well as building solutions internally.
“I’m excited to be joining at a critical time in the company’s history,” said Phillips. “The team is building a great place to work, and the people I’ve met at RoadSync are smart, driven, and caring. I look forward to helping this exciting enterprise grow.”
Phillips said his previous work in logistics was mostly operational. Early in his career, Phillips ran a distribution center that serviced 80 stores in Los Angeles.
“I had a group of teams that did everything from building out the distribution center to creating processes for the distribution center, to creating processes for the distribution center, and hiring and training the employees,” said Phillips. “My background is a collage of experiences in a variety of industries. However, two themes run consistently through my career: identifying opportunities and creating solutions that come from rapid growth and the application of technology.”
Phillips first moved to Atlanta several decades ago, returning to the city after working in Europe for a few years.
“Atlanta is a great city, and I’m happy to call it home,” said Phillips. “There are a few things about Atlanta that have made me want to stay – it has great weather, a business-oriented government, and an international hub. So many people have worked hard to establish and grow the startup ecosystem over the decades. We now have a thriving business community that attracts talent, venture, and PE (private equity) funding worldwide.”
As a long-time resident, Phillips was able to witness the growth of Atlanta’s ecosystem over the last 30 years.
“It takes all sorts of ingredients to create a successful startup community, and Atlanta has many successful startups that are attracting the eyes of investors from New York and San Francisco to around the world,” said Phillips. “As startups succeed, that success breeds even more possibilities for other startups in a wide range of industries, including health tech, ed tech, logistics, and more.”
To date, RoadSync has raised $8.3 million in outside funding, according to Crunchbase.