Are you one of the 90.2% of U.S. trucking companies that operate 6 or fewer trucks or one of the 97.2% who operate fewer than 20 trucks? Are you an Owner – Operator that hates bill collecting? Do you find yourself in a bit of a “pickle” when you think about going after a new account wondering how you will cover the costs of transporting until you can collect on the invoice? How long will that take – 30, 60 or even 90 days?
How much do you love Bookkeeping and Accounting?
Are you a one person Owner - Operator, running the whole show? How much time is used during your valuable day, week or month to run credit checks on new accounts, invoice and collect monies payable to you? If you are like most Owner – Operators, accounting may not be the most enjoyable part of running your company. Maybe you would rather concentrate on providing the transportation services and building great customer relationships that will grow and secure your business.
What would it cost you to hire an accountant or bookkeeper to take on this role and free you up? Where would you find someone who is familiar with the industry and also running credit checks?
Getting paid for your jobs is a pretty important aspect to your transportation company, wouldn’t you agree? You certainly want to have someone who is not only knowledgeable but who also can maintain and grow your customer relationships. You are working hard to create “customers for life” – you cannot afford to lose them over payment issues!
Factoring benefits for Owner - Operators or Independent Transportation Companies
Did you know that Factoring can take on that role for you? Not only that, but immediate access to the cash tied up in your accounts receivable is also available to you. Even if you hired someone to do the accounting/billing/collecting for you, the cash would not be available like it is from the factor.
Sounds pretty welcoming, doesn’t it?
Imagine having access to experts in the transportation industry from the banking / accounting / credit management world. Now imagine those experts bringing bags of cash to your office!