Openforce Announces Collaboration with Ryder to Offer Competitive Commercial Vehicle Rentals to Independent Contractors

PHOENIX, AZ – June 8, 2023 – Openforce, the premier software platform for managing payments and commercial relationships between contracting companies and their 1099 independent contractor (IC) workforces, announced a new collaboration with Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions. This initiative grants independent contractors using the Openforce platform access to one of North America's largest truck fleets.

The surging demand for sprinter vans and box trucks stems from the rapid expansion of the last-mile delivery industry. Numerous independent contractors aspire to transition from local urban delivery in sedan-type vehicles to last-mile delivery. However, acquiring a sprinter van or box truck involves several challenges, including financing, parking, vehicle maintenance, and the cost of full-time commercial insurance.

Renting commercial-use vehicles for independent delivery drivers is generally more feasible and sustainable than financing because it allows for greater flexibility, eliminates the burden of maintenance and repair costs, and requires no long-term financial commitments – making it a more practical option for adapting to fluctuating work demands and managing operational costs effectively. By joining forces with Ryder, Openforce now provides its network of 800,000 independent contractors access to exclusive discounted rates via its contractor benefits marketplace.

Wendy Greenland, CEO at Openforce, highlighted the advantages of working with Ryder for their clients and independent contractor network. "Openforce boasts the industry's most extensive and comprehensive independent contractor benefits marketplace. Independent contractors enrolled with Openforce can now save up to 40% on commercial vehicle rentals, a crucial factor for maintaining competitiveness in this high-demand market."

Shawn Davis, enterprise sales and strategic partnerships at Ryder, discussed the company’s recent relationship with Openforce. "As a leading provider of trucking and commercial fleet rentals, we look forward to working with Openforce as our companies share a common mission of offering resources that support the independent contractor model. This initiative aims to streamline operations as we expand this benefit to Openforce's extensive independent contractor network."

About Openforce
Openforce® is the leading software and payment solutions platform that reduces operating costs and mitigates compliance risk for companies using independent contractors. Openforce frees contracting companies from the burden of onboarding, contracting, and settlement processing while helping independent contractors build their businesses. Our cloud-based applications allow companies to achieve more sustainable, profitable growth by removing financial, operational, and compliance barriers to getting business done. Openforce is a portfolio company of Boston-based private equity firm Riverside Partners. Learn more at www.oforce.com