This is a rough day for being on the road. There is no snow, ice, or rain, but the wind gusts, sometimes reaching nearly 100 miles an hour, make travel treacherous. Even the fuel efficiency of small compact cars, in fact, suffer during these kinds of wind gusts. What starts as a tank of gas indicates that you have 300 miles of fuel for a remaining 309 mile trip, but then drops to 120 miles with 220 miles to go you understand the significance of some of the most challenging driving conditions. When you drop from nine miles short to 100 miles short while only traveling 80 miles in a car, the fuel efficiency can seem overwhelming.
Imagine, however, that you are an owner of a trucking company who is dealing with these same kind of variances. Multiplied by the inefficiency of a large truck and made even worse by the fact that you are dealing with an entire fleet of over the road transportation decisions, it is easy to see how the trucking industry can be a stressful one. As a result, many large and small trucking firms struggle to balance expensive travel costs with the delayed payment for these trips.
Freight Invoice Factoring Services Help Companies Manage Cash Flow
Trucking customers do not pay their invoices until they know that their goods have been safely delivered on time. Before these payments arrive, however, trucking companies must pay their drivers. A driver who is not compensated with on time salary, expenses, and benefits may literally drop a load, leaving the trucking company scrambling to find new drivers and other transitional options.
Fortunately, with the use of freight invoice factoring services, many large and small companies can bridge the time gap between when they receive payments from customers and when they need to pay salaries to drivers. Transportation factoring companies play essential roles in the success of many companies. Advance business capital factoring also plays a role in other businesses as well, but the nation’s consumers often rely on these behind the scenes services to make sure that they have the products that they use on a daily basis.
From the food that we serve our families to the cars that we drive, the nation’s trucking industry transports the majority of the products that we use on a daily basis. In turn, the complex transportation costs of delivering these items often rely on top transportation factoring companies. The latest research indicates that nearly 12 million trucks, rail cars, locomotives, and vessels move goods over the network of transportation. With the help of creative financing, factoring companies can help small businesses bridge invoice payment gaps with upfront payments that are valued as much as 90% of the original invoice. Freight invoice factoring is a type of accounts receivable financing that converts outstanding invoices due within 90 days into immediate cash for a business of any size. Are you using these services?
Many Parts of the Nation’s Economy Rely on the Trucking Industry
