Growing a trucking company can be a daunting task. When you consider day to day money management including invoices and expenses and finding loads to haul, how do small trucking companies have time to provide goods and services?
Fortunately, there are numerous tools available to save owner operators and small fleet trucking companies time and money on day-to-day tasks. By focusing online and offline you open different opportunities to grow and manage your business in a way that is most effective for your needs. Here are just a few tips and tools you can utilize to help you grow your trucking company.
An app and website to find the lowest cost for fuel. In addition to providing locations offering the lowest fuel costs, the app gives you the opportunity to win free gas by accumulating points through a series of challenges.
Waze is a crowd sourced traffic app. It provides you with traffic reports as well as the best alternative route and up to date information about road conditions.
Fuel Economy Coach
Fuel Economy Coach provides owner operators, and all truck drivers, with a way to gather data on your driving habits. Using data about your own driving habits the application provides a prescription to become more efficient with the ability to improve your fuel economy by 30%.
Co-Pilot Live Truck
This comprehensive app is designed specifically for trucking companies and provides a complete offline navigation system for your phone or tablet. It has the ability to download maps to your phone ensuring that you will not use all of your data. The map routing takes into account restricted and prohibited roads to help provide safe and reliable routes that are truck-legal. You can also calculate an optimal route based upon height, length, width and weight axel weight; ensuring that you avoid costly fines or damage.
An app that lets you bid on loads near you that need to be shipped. It is optimal for smaller businesses and is popular with owner operators. The app lets you automatically know if your bid has been accepted or declined, you can also view booking details and you can use optional GPS tracking to alert shippers and consignees to ETAs.
An app that helps truck drivers find coupons from more than 5,000 truck stops in the US. It also helps find the lowest prices on diesel by location and turn-by-turn directions to each stop. Best of all, the app is free.
Freight Bill Factoring
Factoring your freight bills allows you to eliminate the 30-60 days you have to wait for your customers to pay, giving you access to the funds you need to pay for things such as fuel, maintenance, and payroll. Factoring services allow you to use your existing untapped collateral (your invoices) without assuming any debt.
All you have to do is deliver the load, submit your paperwork to a factoring company and they will get you the funds within hours. The factoring company then waits to get paid by your customer and once they do, they will submit the balance of the funds minus their fee to you.
Additionally, some freight factoring companies will offer additional financial services such as free fuel card programs, credit checks and back office services.
There are several ways your equipment can be utilized as a financial tool for your trucking company. One way would be to sell your existing equipment to an equipment leasing company who will then lease it back to you for a lower monthly payment than you currently have. Additionally, an equipment leasing company can help you get access to new equipment that could help lower your maintenance, fuel costs and repair bills as well as help give you a competitive advantage by having access to the latest technology and efficiency.
It is the perfect way to stay connected with family when you are on the road. In addition to offering phone services, Skype also has video capabilities, which can help you stay in contact with employees, customers, or your loved ones. It’s a useful tool that is free to use with an Internet connection.