Quick Transport Solutions Trucking Blog
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We’ve talked about it plenty of times before: Freight factoring. Still, not enough fleets are taking advantage of this underutilized resource. Let’s have a quick primer on what factoring is. Traditionally, a shipper makes a shipment or delivery and sends an invoice to the fleet. The shipper has the option to pay for the goods … Read more
Motor carriers and brokers are increasingly utilizing a low-cost option to ensure they receive quick freight payments. The fact is, waiting 30 days or longer to receive payment on a freight transaction is often an unacceptable option for companies operating in the transportation sector. As a result, companies are increasingly looking into factoring services as … Read more
The fact is, freight factoring can stimulate growth and maximize cash flow for trucking companies. Owners of trucking companies both large and small will tell you that it can be very easy to find themselves in a cash flow crunch. While there are many causes for this, the most common is working with customers who … Read more
As the years go by, the way businesses must operate to be successful has grown increasingly complex. Working in the trucking industry requires a deft hand in these modern days. The economy is no longer a reliable barometer of business success considering how much it fluctuates in any given year. When you combine market volatility … Read more
First, the common question: What is factoring? Factoring is financial transaction is a type of debtor finance where a business sells invoices, or accounts receivables, to a third party. This third party is called the “factoring” company. Businesses choose to factor their invoices to free up cash they are wait for a shipper to pay … Read more
Freight factoring, also known as “trucking factoring,” represents a form of invoicing and paying for freight that provides trucking companies with a way to turn invoices that have not yet been paid into profit for the company. This also works for the owner-operator model. Freight factoring represents a common way for motor carriers or trucking … Read more
Fleet managers and owner-operators who haven’t been looking into the benefits of freight factoring may be missing out. New ways of leveraging this financial instrument to boost operational efficiency are emerging. Freight factoring is loosely defined as money advanced on accounts receivables by a third party, usually for a fee. Because it’s harder for small … Read more
We all know what freight is, but it’s when factoring is added that it gets a little complicated. The word “factor” is both a noun and a verb. In this sense the word should be taken at its definition as a noun, which is the business of purchasing and collecting accounts receivable or of advancing … Read more
Ready for some myth debunking about the logistics industry? Sure, it’s a gargantuan multibillion-dollar multi-corporate enterprise complete with the veins and arteries rivaling that of the human body, what with the vendors, semis, stations and bills of lading long enough to choke the heavens and suffocate the fiery pit of Hades. It’s exhausting, and many … Read more
The trucking company owners out there know that keeping the finances of the business steady can be really hard task when working with various clients who often postpone or miss payments. On the other hand, consistent cash flow is really important because of the serious costs related to providing truck services. While the company is … Read more