Invoice Factoring | Accutrac Capital Factoring Company

It can be one of the most frustrating things when running a trucking business. You've done a great job, delivered your shipment on time. And then your customer doesn't pay on time or takes up to 90 days to pay. Learn how ot improve your accounts receivables collection process with these easy tips that will help you collect on your freight bills faster.

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If you do not know the cost of each mile your trucks drive, you can run your trucking company out of business before you even know it. Knowing what your operational costs are on a per-mile basis allows you to manage expenses more efficiently and determine an appropriate per-mile rate to charge shippers. For trucking companies, this form of cost control provides the essential information needed to be profitable.

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Calculating Days Sales Outstanding (DSO) also known as accounts receivable turnover is vital in determining the financial health of your trucking company. It is a measure of how fast your customers pay your invoices. Calculating DSO (accounts receivable turnover) is a simple equation that should be performed at least once a quarter.

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Rising freight rates juxtaposed with increasing industry challenges will stimulate a survival of the fittest environment throughout 2018. Trucking companies that employ financial strategies, such as Freight Factoring, will be able to invest in resources and support to meet these challenges.

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Following years of monetary restraint, many trucking companies are now better positioned to update working equipment. But consider carefully before taking on long term debt. Freight Factoring supports growth without the restrictive covenants and monthly obligations a bank imposes on lenders.

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Fleet companies will want to be a lot more proactive with the IoT rather than reactive for one simple reason: taking advantage of it will save them money, especially in the long term.

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The key to survive and prosper for today's trucking companies is to embrace modern technology and stay current by continually upgrading. Ensuring your company has the working capital to support this activity is a critical necessity. Freight bill factoring has become a mainstream financial strategy for a growing number of trucking companies to meet this need.

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Health care logistics is an important niche segment in the trucking industry that requires specialized facilities, equipment and personnel. Even though the demand for qualified transportation in this sector is high, it is an exceptionally controlled service that proves difficult for trucking companies to sustain profitable operations. To help manage the fiscal obligations needed to support operations, many trucking companies are utilizing the cash flow benefits of Freight Factoring to ensure steady and reliable access to operating funds.

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Most trucking companies have had a huge challenge to remain profitable during the difficult era following the financial crisis of 2009. With market trends now turning in favor of trucking companies, they are in a stronger position to sustain profitability and support stable employment conditions. To combat the ever present driver shortage, freight carriers need financial stability to recruit and retain professional drivers. Freight Factoring provides the financial stability of uninterrupted cash flow.

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An invoice factoring company for trucking is a prime example of a dedicated service provider with a mandate to strengthen trucking companies. Despite being a critical service, trucking is an industry exposed to tremendous challenges that threatens its very existence. A growing driver shortage, emerging government regulations and restricted funding options are just a few of the issues that impede the vitality of commercial trucking.

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Once a freight carrier decides to use invoice factoring to gain control of its cash flow, it then becomes a question of whether to use Recourse or Non-Recourse factoring. Perhaps the most misunderstood form of invoice factoring is Non-Recourse. It is commonly believed that a Non-Recourse factoring agreement safe guards the carrier against financial loss if a customer fails to pay their freight bill for any reason. In reality, this is not correct! The Preferred Choice is Recourse Factoring.

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2017 is expected to be a positive period of economic growth. This year, the long awaited start to freight capacity contraction is expected to take hold in the third and fourth quarters. This signals the return to higher demand in the freight transportation industry and a need for carriers to plan ahead for growth. A growing number of trucking companies are turning to the distinct advantages of freight factoring to gain immediate access to working capital.

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