Cashflow Corner presented by TriumphPay …Running under your own authority offers plenty of challenges, but some would have it no other way. One of the biggest challenges is finding freight.
Cashflow Corner presented by TriumphPay …The interview process is just one area where companies can be tripped up by asking the wrong questions, which could potentially place them in legal jeopardy.
Cashflow Corner presented by TriumphPay …When a customer refuses to pay their bill, or simply delays paying it, brokers and carriers alike can be stuck with a lack of cash on hand and few options.
Cashflow Corner presented by TriumphPay You’ve taken the leap and decided to purchase your own truck. Or maybe you run a small fleet and have a handful of trucks. In either case, the next challenge is upon you: maintaining those vehicles, because if a truck isn’t running, it isn’t making any money.
Manual processes may appear cheaper at first, but studies have shown that switching to automated accounting programs for account payables and receivables saves money in the long run, even for small operations.
When you run a trucking business that has weekly and daily bills such as salaries and fuel, but shippers pay at 30, 60 or even 90 days, ensuring you have the proper cash flow to maintain operations can be tricky. That’s why many owner-operators and smaller fleets have turned to invoice factoring.
Fuel surcharges have a long history in the transportation industry, dating back to the Arab oil embargo in 1973 by most accounts. While the early days of surcharges were straightforward to calculate, that is no longer true, and they may not even be the best way to manage costs anymore.
If your small trucking company seems like it is operating on a week-to-week basis, you are not alone. According to a new survey from Mercator Advisory Group, 75% of small businesses in the U.S. routinely delay purchases at least once or twice a year because of cash flow issues. You can minimize this impact, though, through proper planning.
eCapital, a leading supply chain financial services provider, announced today that it has been selected as the newest member of the Blockchain in Trucking Alliance (BiTA). BiTA was formed by experienced tech and transportation executives to create a forum for the development of blockchain standards and education for the freight industry. View member companies here.
Rates are going up, but how can your carrier grab the largest increase possible? There are many things to consider when it comes to rates, but it all starts with knowing your own costs.
