3 Ways Freight Bill Factoring Saves You Time and Money

March 31, 2015

Freight Factoring

When you are running a small and growing trucking company, services that can help save you time and money are a welcome resource. When you partner with the right freight bill factoring company you get access to services that will save you time and money and give you the working capital you need for things such as payroll, fuel, maintenance and more. Here are three of the ways freight bill factoring can save your trucking company time and money:

  • Help you streamline the financial side of your business. Some freight bill factoring companies will handle invoicing, processing, postage, collecting and more for you. These services save you the time of doing them on your own and save you from having to hire someone to do them for you.
  • Save money on fuel with fuel discounts. Some freight factoring companies offer fuel cards, which they will load your funds directly onto. When you use the fuel cards you can save money on each gallon of fuel you purchase. Fuel cards also provide additional valuable benefits that save you time and money including fuel management tools, purchase controls and updated price comparisons to help you control fuel expenditures and manage your cost per mile.
  • Credit checks on your new customers. The credit checks will help you determine a potential client’s credit risk before hauling the first load, saving you time and money. Some freight factoring companies offer this for free where as some charge for this service.

If your trucking company could benefit from any of these services you might want to consider factoring your freight bills.

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About Matt Moore

Matt is an expert at helping transportation companies of all sizes grow by giving them access to the working capital they need. He has over 15 years in the financial services industry with 5 years in the transportation industry. He holds an MBA from the University of Phoenix and did his Undergraduate in Economics from the University of Utah.

View all posts by Matt Moore

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