Trucking Factoring Guide

Trucking Factoring Guide

Trucking Factoring Guide

Trucking companies can cut out a lot of stress when they make arrangements with truck factoring companies for keeping cash flow ahead of payments due. They have choices now and don’t HAVE to invoice the shippers and wait for their payment. With FACTORING, cash flow is on schedule and their business credit is assured. The factoring companies also offer credit facilities and that is an additional advantage. However, it’s important that the trucking company knows about certain issues involved and follows certain guidelines in choosing and working with a trucking factoring company. 1. When these companies offer you credit, you must ensure that you meet the credit requirements. There are many customers and shippers who do not pay on time and this could affect your relationship with the trucking company. Carry a list of blacklisted customers according to the factoring company and don’t deal with them unless it’s strictly cash upfront!

2. If you don’t find the customer’s name in the blacklisted entries given by the truck factoring company, don’t automatically conclude that the customer is reliable. Check his or her credit status before accepting the load if you are planning on selling the paper.

3. Always keep the original invoices and bills to submit to the factoring company.

4. These truck factoring companies have come into existence to help stabilize revenue for truck company owners. They offer lower interest rates than banks and are reliable. However do not let them dictate terms to you or get intimated by them if yours is a small company or a fledgling one. If you are not happy or satisfied with the service you get, try another one.

5. Before you decide to make a deal with a trucking factoring company, make a background check on them. Today there are a number of fly by night factoring companies that have cheated some trucking companies. Ask around. Talk to other freight companies that have used the services of the Factoring service you plan to use before making the final decision.

6. Study and compare the rates of different factoring companies. Look for hidden charges and most of all, make sure that the company is sound and has built itself a good reputation.

7. Do not jump in too fast for long term contracts however attractive or discounted they may appear. It’s better to start with short term contracts and only when you are fully satisfied with the service thinks of going long term.

Owner Operator Trucking Jobs

Owner Operator Trucking Jobs

Owner Operator Trucking Jobs

Many people these days are interested in pursuing a driving career in the trucking industry as the jobs could provide with a competitive salary, flexible working schedules and greater benefits. However, not many people realize that there are several types of trucking jobs available out there. Therefore, make sure which kind of job you are interested in and what all it would entail before you go for an interview. You can find various owner operator trucking jobs like owner operator flatbed, owner operator driver van, owner operator tanker, owner operator reefer, owner operator car hauler and others.

Types of owner operators

Solo owner operator

Owner operator is a driver who owns one’s own truck also drives the truck alone. There are many companies that require some extra drivers. Therefore, they would contact freelance drivers like you. Typically, the owner operators don’t have much of driving experience as compared to many other company drivers. The owner operators might have a whole team of truck drivers contracted to the companies in need of driving services.

With the skyrocketing prices of the fuel, cost of equipments and the rising insurance and a gruelling schedule, searching and maintaining a success in the owner operator truck driving job could be a pure challenge, even for those skilled truck drivers. On surface, it might sound much easy to acquire a semi truck, find some profitable truck driver’s job that you can probably handle and earn a handsome income. Earning about $100,000 a year, after all tax deductions, is thought to be a handsome income. The fact is that not many of the owner operators are successful. In fact, it is estimated that even less than ten percent of the independent owner operator truck drivers are able to make this sort of money.

The inexperienced and the new owner operator truck drivers are vulnerable and susceptible to the financial management challenges during the starting period, within 24 months, after they have chosen to dive in the ownership. Unfortunately, trucking industry has had a terrible reputation of chewing and spitting all individuals who have taken up the independent owner operator trucking jobs. Over the years, trucking industry has failed to cultivate, nurture and train the drivers for helping them with management of financial side of business and to avoid any pitfalls that are associated with rankings of the semi truck driving owner operator.

Similarly, amongst all those successful independent owner operator drivers set aside an amount for emergency, is in common. As a primary key for a successful business is management of the cash flow, nothing is probably more important that profitability of the trucking business than a good business decision in the area. Being an independent owner operator truck driver, you are alone responsible for the management of every aspect of the cash flow. An effective management of the cash flow would determine the profitability towards the end of month. Many successful owner operators advice that the truck drivers need to have about three to about six months of the after tax cash in their fund for the emergency like loss of the job or incurrence of some unexpected big expenses. Emergency cash fund would include all business expenditures that are stashed including the insurance, truck payment and maintenance and others.

Team owner operators

A team owner operator usually owns the truck and has driving partner.

Buy Truck GPS Tracking for Your Heavy Hauling Trucking Company

Buy Truck GPS Tracking for Your Heavy Hauling Trucking Company

Buy Truck GPS Tracking for Your Heavy Hauling Trucking Company

Owning a heavy hauling trucking company is a major responsibility. At times it is hard to keep tabs on all of your vehicles. It is even harder to know that your truckers are where they should be, performing what they are supposed to be performing. There is clearly some measure of trust that is essential in a work like this, but it is an excellent security measure to include truck GPS tracking to the vehicles you own. There are quite a few reasons why buying a truck GPS tracking system is an excellent idea. It is nice for you to know where your hauling trucks have been in case something occurs and one of your truckers is blamed of a crime. Owning a system like this may be helpful if you have insurance on your hauling trucks for theft.

If one of your heavy trucks occur missing, it will not be too hard to trace it as long as the system is functioning correctly. One of the tools that these systems can present is accountability. If a driver is speeding, you can discover out about it. You can as well be informed about their breaks and as soon as they begin and end the day. It would do away with time loss incurred once workers run personal tasks on company time, once a driver gets lost on the way to their destination, or because of unexpected traffic or weather conditions. It would as well offer up to the minute time of delivery estimates for said firm’s clients. As you care about truck GPS tracking systems, you will want to be concerned about a few things before purchasing one.

Search for a company that has a good standing, good technicians that go after tracked trucks, and have reasonably priced parts and services. The standing of a truck GPS tracking company is something to think about. It might be an excellent idea to talk to further owners or managers of heavy hauling trucking companies to see if they have utilized any tools like this. You can as well search for reviews online where you will likely find quite a few reviews for the tools you are considering. The technicians that are with a firm are another consideration. It is very important that they know how to precisely work the equipment in order that you will get precise reports on the performance of your truckers.

There should at all times be someone available to answer any inquiries you might have. Affordability is as well something to consider. Make certain that the price of the actual tool as well as the service presented is affordable. You may be a large business, but you still need to look at the cash that you are spending. After considering your selections, optimistically you will have found the truck GPS tracking for your heavy hauling trucking that works for you. It might take a bit research, but you will be happy that you took the time and problem as soon as one of your trucks ends up lost or a driver is blamed of a crime.