3 Ways to Speed Up Cash Flow
Factoring can be especially valuable for new or growing trucking businesses where bank loans or traditional lines of credit may not be an option, and for any business that wants to reduce the time and costs involved in managing invoices and receivables. With steady income, you can focus on filling trucks instead of running credit checks and chasing down payments.
Instead of billing a shipper or broker yourself, you sell your accounts receivable to a factoring company for a fee based on a percentage of the value of the invoice. The factoring company pays you immediately—by check or electronic funds transfer—and then takes responsibility for collecting from your customer/s.
Whether you have one truck or a thousand, it’s important to develop a factoring strategy that makes sense for you—and to use the latest digital tools to manage it. Here are three things to consider if you want to get paid faster:
Factoring companies set their fees based on the credit risk associated with your customers, as well as the volume of factoring you’ll be doing. There are two types of factoring arrangements…
From the CB Radio to
Self Driving Trucks
A Look at 40 Years of Trucking Tech
By Matthew Meeks
The primary groundwork for today’s trucking tech advances was laid between the 1980s and 1990s – what a remarkable time to be alive!
Some of the biggest tech milestones in trucking include electronic engine controls (or electronic control units (ECU), driver assistance systems, and automatic recording devices.
Add in GPS technology, advanced telematics, and location tracking and you have an industry that’s far different from the one of 30, 20, and even just 10 years ago.
So, which tech advancement has been the biggest contributor in the freight business?
Let’s take a look at 10 of the most influential technology advancements in the trucking industry…
These days, if you’re a carrier who’s not automating and digitizing, you’re already behind in the game…
As the freight industry continues to morph and change, we take a look at one company with a unique and extensive history who knows what needs to be done to survive the tests of time.
1. Eliminating “app fatigue”
Many brokers have designed their own mobile apps for carriers & drivers to use – but the adoption of these apps has been low. Here’s why: Carriers work with multiple brokers and don’t want to use a dozen (or more) different mobile apps to do business – it’s not efficient.
However, with a platform like the one the Transflo Mobile+ App offers, carriers can do business with our list of elite brokers to work with – all on ONE app.
2. Eliminating tedious & unnecessary back-office tasks
Did you know on average, brokers make…
As Transflo continues to grow its digital workflow platform for commercial truck fleets and drivers, the company now offers the Samsung Galaxy Tab A 8-inch 32GB LTE tablet compatible with the Transflo Mobile+ app and all Transflo products and services, including the industry’s leading electronic logging device (ELD) for mobile platforms.
Drivers can easily access information including electronic records of duty status on the Galaxy’s clear, bright 8-inch touch display, and its LTE connectivity ensures seamless cloud integration and compliance with FMCSA regulations for wireless transfers of hours-of-service data.
Affordable pricing with available inventory. Get a FMCSA-certified Transflo ELD with no up front hardware costs and a lifetime upgrades/warranty on ELD equipment. (An activation fee may apply depending on fleet size)Learn More
Transflo Mobile Manage your whole workday – anywhere, anytime! Weigh station bypass, truck navigation with live traffic, E-Logs, loads, documents, & more.Watch Video
Transflo Completes Electronic Logging Device Registration with FMCSALearn More