"Accutrac isn't like other factoring companies. They're extremely professional, treat us with respect, and know how to deal with our industry and our customer base. I highly recommend Accutrac's services.
About Our Client
For over 40 years, Messenger Freight has offered rail service, full load trucking and full-service warehousing and logistics. Operating out of St. Thomas, Ontario, Messenger boasts all sizes of fleets from vans to 5-axle trailers. Their massive warehousing facility specializes in line sequence, repack, sort and a full range of logistics services.
"We've always run a successful and profitable trucking business with a strong automotive client base. But in 2008, when the automotive industry went sideways, the banks suddenly weren't interested in working with us even though we were in good shape," says Louise Vonk. "We were introduced to Accutrac by Deloitte and found them to be an awesome fit because of their background in trucking. Accutrac made the transition easy and seamless and bent over backwards to accommodate us."
Unlike the short-sightedness of traditional lenders, Accutrac saw Messenger Freight's potential along with their challenges. In addition to the rising fuel and operating costs that all trucking companies were experiencing, Messenger was growing. Waiting 45 days for customers to pay simply wasn't an option if they wanted to take advantage of that growth potential. A factoring line of credit offered the solution.
"I love that Accutrac went to see my biggest clients with me to explain our new process. They removed the stigma often placed on dealing with a factoring company with their professional and flexible approach that won my clients over," says Louise. "Moving forward and growing, the way we have, means you need more cash flow faster. Having the funding readily at hand, and the comfort and ability to budget for cash flow is a huge plus for us."
Accutrac worked with Messenger Freight to:
- provide a line of credit equal to invoiced receivables
- free up cash flow to maintain day-to-day expenses and to fuel growth
- offer industry insight and advice
- perform customer credit checks
- manage receivables and collections
Messenger Freight has enjoyed solid growth since coming onboard with Accutrac. Flexible cash flow and strong receivables management helped Messenger to thrive and grow successfully.
"The kind of people who are truly willing to work with you these days are few and far between. Accutrac proved the exception. They think outside the box to help you through tough or challenging situations. They're always upfront, with no hidden costs," says Louise. "In 3 years, Messenger Freight almost doubled in annual sales. Accutrac helped us get there."