There are a lot of misconceptions about what invoice factoring, also known as invoice discounting is and isn't, where it started and who uses it. Below are some interesting and little-known facts about factoring. Read More . . .
Too often truck company owners, despite setting payment terms, feel trapped by their customers’ failure to pay in a timely fashion. This can have a severe effect on your company’s cash flow and your ability to grow. Take back control of your trucking business’s cash flow by invoice factoring your accounts receivables and freight bills.
If your trucking company is struggling with cash flow, keeping your costs under control is crucial. So is finding creative ways to generate cash flow to reduce your costs. Accutrac's unique bulk buy program offers Carriers the ability to leverage the purchasing power of many Trucking companies to help reduce cost on fuel (discounted fuel cards) and to get the absolute best currency exchange rates. Read More . . .
It's called cash flow because, when you're in business, cash is never static. Like the tide, it comes in and then it goes out. Unlike the tide, however, it's rarely as constant and dependable. Budgeting for and keeping a close eye on your cash flow can make the difference between surviving or being blind-sided by a sudden cash flow crisis. Two vital cash flow metrics to watch are collection days and payment days. If these two metrics are not aligned, you may want to consider invoice factoring (also known as invoice discounting) as a simple, cost effective solution to gain immediate access to cash. Read More . . .
Have you considered load advances or invoice factoring (receivable financing | invoice discounting)? The loss of a major contract. A rough economic climate. A spike in operating costs. These are all factors that can lead a trucking company into a tough financial year. As you work to rebound from it, the strain on cash flow can cause some sleepless nights for any owner in the transportation business. Read More . . .
2012 saw one of the best years in the trucking industry since the economic downturn of 2008/2009, and forecasters say that the economy will continue to rebound. Yet many trucking companies continue to struggle with ongoing issues such as driver shortages. Making payroll is critical to retaining drivers and keeping your trucks pulling freight. Invoice factoring, fuel cards and load advances are viable strategies to ensure steady cash flow, allowing you to make payroll as required. Read More . . .
Growing your trucking business is difficult enough without the constant pressures of managing poor cash flow. Getting your cash flow under control allows you to place focus where it belongs; gaining new business and servicing existing customers. Employing the services of a reputable factoring company and utilizing invoice receivables factoring to access immediate cash has become a common practice within the transportation industry. Read More . . .
There are lots of reasons why a trucking business may go through a tough year: Read More . . .
Even with the recent increase in demand in the trucking and transportation industry, many trucking businesses still struggle with cash flow. Customers are demanding longer payment terms at the same time that wages and operating expenses are increasing. Protect your trucking company from cash shortages by creating a cash flow safety net. There are a variety of options to access cash flow such as invoice factoring (invoice discounting) your accounts receivable invoices and freight bills. Other strategies include; fuel cards and load advances. Read More . . .
You're working hard and landing lots of contracts. But there's no money in the bank. Does this sound familiar for your trucking business? Read More . . .