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truck driver safe during covid-19

How Can Truck Drivers Stay Safe During the Coronavirus Pandemic?

During a time of global crisis, the employees moving America are uniquely impacted – and uniquely needed. COVID-19 has severely disrupted the supply chain, while demand for medical supplies, food items, and even toilet paper require movement along the lonely roads of America.

As truck drivers transport items across the country on empty streets, how can they stay safe? What best practices should truckers follow? What opportunities for healthcare are currently available? In the content below, we provide a guide for truck drivers on staying safe during the current unprecedented pandemic.

The Coronavirus’ Unique Impact on Truckers

As the backbone of the supply chain, truckers are necessary to move vital supplies across the country. The Department of Transportation suspended some off-road break regulations, adjusting “hours of service” for drivers transporting emergency medical supplies. While demand increases, many state-operated truck stops, including lounges, restaurants, and fitness centers, have shut down. Thus, truck drivers are called upon for more and asked to work with fewer amenities.

The U.S. Xpress director of public affairs, Mary Danielson, rightly called faithful fleet drivers heroes. “They all understand,” she said, “that what they are doing is critical to the country. The majority are reporting to work and getting it done.”

Steps to Contain COVID-19 Spread

As many truck drivers step up and continue transporting freight, efforts to remain safe during the pandemic are ever important.

Of course, fighting to stay personally healthy as a truck driver is of utmost importance. According to Trucking Info, “drivers are uniquely situated to both help the country in its fight to contain the COVID-19 virus – or to facilitate its spread.” Staying healthy is critical for the driver’s personal health – and the health of countless others across the country. Few individuals carry the powerful potential to prevent the spread or promote the spread as much as truckers.

Standard Guidelines

As truckers, following these health guidelines are critical:

• If you feel sick, stay home.
• Wash your hands with soapy water for at least 20 seconds frequently.
• Sanitize surfaces touched frequently.
• Maintain adequate distance from people with respiratory symptoms.
• Avoid touching your face.
• Cover your mouth with tissues when you sneeze, and immediately discard used tissues.
• Wear masks and gloves

The founder of Konexial, Ken Evans, explains how serious trucker safety is:

Not just our company, but our entire nation, needs to be doing everything we can to protect truck drivers. We are at the point where truck drivers having PPE is just as important has healthcare workers in hospitals having that gear. These items are in short supply right now. But I am calling on fleets, the trucking industry, and the federal government to work together in a way to supply PPE to drivers. Simple, day-to-day items like masks, face protectors and gloves can play a major role in helping to contain the spread of this virus.

Symptoms of COVID-19

Beyond personal hygiene, understanding early onset symptoms of COVID-19 will help drivers identify the virus within themselves and take necessary measures. Early symptoms include:

• Sudden loss of smell; change in the way foods taste
• Fever
• Cough
• Shortness of breath

Severe symptoms include:

• Difficulty breathing
• Pain or pressure in the chest
• Confusion
• Inability to get out of bed
• Bluish lips or face

As a truck driver, you should seek medical attention if experiencing severe symptoms. However, when hundreds of miles from a hospital, drivers face a unique challenge.

One excellent solution, Telemedicine, gives drivers the ability to call a physician anywhere in the country for virtual assistance. Of course, if a more serious medical emergency is taking place, drivers should always call 911.

Prevent Spread by Taking COVID-19 Seriously

Like the rest of the American public, truck drivers can stay safe and prevent spread by taking the virus seriously. Healthcare professionals share that the virus is easily transmittable, with the potential to overwhelm the healthcare system. Thus, ever since the virus entered the U.S., governments have been taking steps to prevent its rapid spread.

One doctor, Jonathan Wiesel, shared that the primary problem with the Coronavirus is its long latency. For example, one may be infected but wait to show symptoms for weeks. In light of the severity of COVID-19, Wiesel strongly suggested a practice of good personal hygiene – “make sure you prevent the spread of the infection to the extent that you can by not shaking hands, and washing your hands religiously and often.”

Testimonials from Truck Drivers Staying Safe During COVID-19

Nate McCarty from Denver, Colorado shared his experience as a truck driver during the COVID-19 pandemic with Fox News. He said he was just as busy as during the summertime; however, the kind of freight being carried is unique as grocery and Amazon deliveries increase dramatically. “Some of the truckload carriers,” Nate commented, “they’re running at capacity.”

Nate explained that many truck drivers have been away from home for months, feeling the need to help other companies and the country. Even though none of Nate’s co-workers were sick during the time of the interview, the cautious truck driver is still taking precautionary measures, like social distancing, to stay healthy while on the road.

“It’s made me a lot more aware of the place that I go on my trip and everything that I’m touching. I’ve always used antibacterial wipes on the truck and the hotel that I stay in,” he said, “and I wipe everything down on the room and now I’m wearing rubber gloves.”

Nate described his struggle in finding places to eat due to the increase in carryout-only restaurants. Despite the regular challenges faced on the road, the truck driver from Colorado described the comradery experienced between truckers, even greater now during this time of crisis. “The motoring public,” Nate continued, “had been expressing gratefulness as well, holding up thank-you signs, passing cards, and waving.”

Tony Spero of Connecticut agreed with Nate McCarty’s experience. He has been able to maintain his regular route despite additional safety measures. Tony shared, “We’re doing what we got to do to keep this country supplied. And we’re going to keep on doing it, and we’re going to do it as safe as possible.”

Advanced Commercial Capital

At Advanced Commercial Capital, we are concerned for your trucking company and the safety of your fleet. During a time of global turmoil and unpleasant surprises, we offer consistent freight factoring services, providing you with the immediate cash you need.

To get in contact with our team, give us a call at 855.465.4655 or via our online contact form.

driver using one of the 9 reasons to become a truck driver

Explore 9 Benefits of Truck Driving for a Rewarding Career

Many people take on the role of a professional truck driver for their own reasons. Whether they need the income, or they just like driving, becoming a truck driver has many benefits. In the content below, we list out the top nine reasons you should become a truck driver.

1. Truckers Support the Economy

Drivers are the backbone of American commerce. Whether transporting food, lumber, or medical equipment, over 80% of the products Americans purchase are delivered by trucks. As a professional truck driver, you contribute to supporting the everyday lives of Americans.

2. Rewarding Income Potential

A great reason to become a truck driver pertains to the substantial income potential. In the trucking industry, a first-year truck driver earns an average annual salary of $35,000. Additionally, some companies may also offer signing bonuses, safe-driving bonuses, and raises the longer you stay with the company. As for trucking company owners and operators, you can receive an annual income of about $184,803.

3. Truck Driver Benefits

Although steady paychecks may attract you to the industry, truck drivers can also experience benefits packages from their employers. Benefits can include health insurance, retirement plans, and performance pay.

Additionally, some trucking companies may pay for the miles their van drivers accrue and offer a paid percentage to flatbed drivers. For example, flatbed drivers could earn between 24-32% of what a customer pays your company. Furthermore, since it is incentive-based, drivers can earn a better payment percentage with a more efficient performance and satisfied client.

4. Job Security

When assessing the current unemployment rate, you could assume that many industries appear to be failing – except truck driving. No matter the state of the economy, America will always rely on truck drivers to deliver goods and transport necessary materials.

Truthfully, there are more trucking jobs in demand than there are available truckers to supply the need. Over the next ten years, the Bureau of Labor Statistics predicted that truck driving jobs may grow by five percent. Therefore, transportation companies are always looking for reliable, responsible, safe drivers.

5. Multiple Career Options

Perhaps you’ve been laid off from your current job. Maybe you are looking for a change of pace and ready to try something different. Regardless, professional truck driving proves to be a wonderful career and will provide you with excitement and a sense of accomplishment.

Advancement Opportunities

It is rare to find another industry that offers this kind of job security and quantity of career advancement opportunities. No matter where you live, it’s always possible to get a professional truck driving job. Even in the event you want to relocate, trucking proves to be a dependable career option. Below are just a few avenues in which you could advance your truck driving career.

• Trucking Company Executive
• Driver Manager
• Commercial Driving Instructor
• Recruiter
• Logistics Management
• Owner Operator

6. Easy Access to Training

Many individuals learn best through “hands-on” experience. During your Class A CDL training, you’ll receive lessons about road safety and effective truck driver procedures. These courses are available nationwide through numerous trucking companies, community colleges, and commercial motor vehicle programs.

Four Weeks vs Four Years

Because truck driving doesn’t require a college degree, you no longer need to worry about the cost of a college education. Often, a truck driver can complete the entire training in as little as four weeks. Some programs help with tuition assistance and job placement after graduation. Would you rather pay for four years of college or complete just four weeks of motor carrier safety training?

Affordable Training Rates

Depending on the license class you wish to obtain, trucking school fees range between $3,000 and $7,000. However, federal grants, loans, tuition reimbursement, and other financial aid are widely accessible to help pay for your CDL training.

If you cannot afford it, a trucking firm might offer to pay in exchange for your commitment to work for them. However, approval for driving programs is often based on your driving record, work history, and criminal background check.

7. Community

Many truckers describe their job as their lifestyle. No one truly understands what you experience every day on the job quite like another truck driver. Much like a military unit, commercial drivers form a closely connected community.

When beginning your new career as a professional truck driver, you’ll meet other trainees with the same goals in mind. Therefore, you’ll begin building a new community with your instructors and future coworkers.

8. Freedom from the Desk

Are you looking to break free from punching in, attending long meetings, answering emails, and dealing with office politics? One of the greatest reasons for becoming a truck driver is that you will never be stuck behind a desk! Prepare for meeting new people, seeing new things on a daily basis, experiencing a flexible schedule, and being your own boss.

Say Goodbye to the Office

No one likes having the boss constantly looking over your shoulder and watching that you complete your tasks and reporting. How does escaping the office sound? As a professional truck driver, you’ll only receive support from your team via phone or on-board dispatch.

Although, the career of a truck driver doesn’t free you from all accountability and responsibility. You must follow your company’s “hours of service” rules. However, you’re also in a position to set your own schedule and time spent driving.

What full-time desk job offers you that type of freedom? As a professional truck driver, your company will rely on you to complete the task at hand.

9. Travel Along the Open Road

How many jobs pay you to drive through scenic national parks, mountains, the countryside, tropics, and city skylines? Most truck drivers agree that the best views of the United States are from behind the wheel of their big rig. As a truck driver, you have a front-row view of the country, all from the comfort of your truck. Additionally, you can get paid to travel while listening to music or an audiobook and taking breaks whenever convenient.

Help Your Trucking Company Thrive with Advanced Capital Commercial

Have you recently started your own trucking company? At Advanced Commercial Capital, we are dedicated to helping your trucking company thrive. When dealing with the high demand for trucked deliveries, we tailor our solutions to the cash needs of the trucker.

We understand the unique needs and challenges trucking companies face. From paying for fuel to truck maintenance and payroll, it’s hard to wait on delinquent customer payments. To get in touch, contact us today at 855.465.4655 or via our online contact form! We look forward to walking beside your company and watching it thrive.

fuel logistics companies

The Impact Fuel has on the Logistics Industry

Nearly every member of the logistics industry has felt the implications of evolving and often erratic fluctuations in fuel costs – leading to industry instability. Rapid variation from the fuel status quo, severe drops or rises in costs could result in a profit boost or a surge of competition. Regardless of the outcome, many trucking companies do not understand the direct effect fuel costs have on the logistics industry. In the content below, we explore and demonstrate the implications of fuel costs, helping freight companies aptly prepare for when fuel fluctuates.

The State of the Logistics Industry

Before discussing the implications of fuel cost fluctuation, it is imperative to understand the current state of the logistics industry. As an industry, logistics and transportation are highly competitive in the United States. Select USA states:

By investing in this sector, multinational firms position themselves to better facilitate the flow of goods throughout the world’s largest consumer market. International and domestic companies in this industry benefit from a highly skilled workforce and relatively low costs. United States Business Logistics Costs reached $1.6 trillion in 2018 (8 percent of GDP that year).

The complex logistics and transportation industry play an integral role in national and global markets. Thus, changing fuel costs impact a highly competitive and economically vital industry. From this perspective, fluctuating fuel costs are worth diving into, as both members of the logistics industry and members of the global market.

What Happens When Fuel Prices Rise?

When fuel cost rises, trucking companies have two choices: raise prices or incur losses. Of course, trucking companies do not operate as a single entity. Therefore, fluctuating fuel prices ultimately affect the shipping company and the shipper’s profit source as well. If trucking companies are required to spend more during transportation, shippers will either be charged more – or trucking companies experience a loss in revenue. Shippers, paying more for transportation, will charge the receiver enough to make up for the increased rate.

Furthermore, fluctuations in fuel costs affect all members of the logistics industry, from trucking companies to receivers – ultimately, extending to the general public. How? As fuel prices rise, transporting freight via trucking fleets becomes less economically viable and inefficient relative to market demand. To account for increased expenses, consumers must purchase goods at higher costs. In an already competitive industry, decreased demand also proves detrimental for logistics companies.

When fuel prices rise exorbitantly, product inflation follows. When trucking companies are forced to pay for higher fuel costs, consumers pay for higher product prices.

What Happens When Fuel Prices Drop?

As expected, when fuel prices drop, the opposite occurs. Savings in fuel are ultimately passed along to the consumer. As cost decreases, market demand increases, resulting in greater shipping service demand. Trucking companies tend to flourish during these times as demand increases and cost decreases. In this scenario, companies no longer worry about fuel prices and can relegate efforts into service efficiency and company improvements as a result. Ultimately, lower fuel costs result in decreased transportation prices and decreased product prices.

Can Fuel Logistics Companies Prepare?

While the increase or decrease of fuel prices directly affect the profitability of the logistics industry, volatility and rapid change is perhaps the most challenging aspect of fuel fluctuation. Most trucking companies calculate fuel surcharges based on the previous week’s prices. Unfortunately, the speed upon which fuel prices change often catches companies off-guard – an unavoidable lag between actual prices and surcharge estimates exists. Of course, if fuel costs decrease exponentially, companies experience higher profits. However, fuel costs often rise again, setting companies back.

Regardless of fluctuation patterns in the cost of fuel, trucking companies can and should take steps now to prepare for unavoidable fuel price fluctuations.

Control Fuel Usage

Regardless of the size of the fleet a trucking company is managing, it is wise to carefully control your fuel inventory and usage. Cardlock systems provide extraordinary accountability of fuel usage, tracking every gallon of fuel utilized. Unauthorized fueling is quickly and often identified, fuel theft is prevented, and real operating costs are revealed. Trucking Info insightfully explains the importance of controlled fuel usage:

Today’s fuel control systems also can help drive efficiencies in your operation. For example, many fleets still rely on manual statistical inventory reconciliation, which is inaccurate, inefficient, and expensive. Automated reconciliation programs eliminate hours of manual data collection, calculation, and reporting, and today’s software-based solutions improve the accuracy of the fuel usage data that is collected. Fleets that incorporate a tank gauge and a full-featured reconciliation software into their system significantly increase the depth of inventory data available to them while also streamlining reconciliation procedures. Through instant visibility into fuel volumes and anticipated usage, fleet directors are able to optimize the timing and pricing of fuel deliveries, a cost-cutting strategy that quickly pays off, whether buying millions of gallons of fuel annually or less than 50,000 gallons.

Controlling fuel usage should ultimately lead to reduced fuel consumption. For some trucking companies, this may look like streamlining routes, selecting more environmentally-friendly fuel alternatives, maintaining vehicles, or hiring more efficient drivers.

Evaluate Shipment Packaging

Along with strict observation and documentation of fuel usage, reducing extraneous costs in other areas prepares companies for fuel fluctuation. Shipment packaging is one area to re-evaluate. Can reductions be made in the use of cardboard or in the amount of space occupied?

Automate Processes

Automating manual processes to reduce staffing requirements is another key consideration. Can processes be automated while remaining scalable, controlled, and cost-effective? Will customer satisfaction be improved?

Ship Less Often

If possible, transport bulk shipments less often and avoid small, frequent trips. Highly profitable trips involve multiple carrier stops along a single route.

Efficient Factoring Services for Truckers with Advanced Commercial Capital

At Advanced Commercial Capital, we are poised to help your trucking company thrive. During difficult periods of intense fuel fluctuation, we provide factoring services for truckers, tailoring our solutions to the cash needs of the trucker. Our team understands the unique needs and challenges faced by trucking companies of all sizes, paying for fuel, maintenance, and payroll – while waiting to get paid by customers.

Factoring with Advanced Commercial Capital means you receive immediate cash, without waiting to receive your money. Thus, when you need immediate invoice funding, we provide it. Your rate will never change, and you won’t be responsible to buy back uncollected invoices.

To get in touch, contact us today at 855.465.4655 or via our online contact form! We look forward to walking beside your company and watching it thrive.

driver going through commercial truck maintenance checklist

Commercial Semi Truck Maintenance: Checklist and Importance

Maintaining a fleet of commercial trucks is of absolute importance to a thriving transportation company. Both company fleets and driver-owned commercial trucks are often neglected due to the time commitment demanded by regular maintenance. However, any extraneous time spent repairing commercial trucks is far outweighed by the positive results. In the content below, we explore the importance of commercial truck maintenance – outlining a checklist to simplify the process for you and your fleet!

Commercial truck maintenance impacts a company’s bottom line, proving cost-effective for a plethora of reasons. Thus, regular preventative maintenance should be a routine element to your company strategy.

1.) Fewer Unexpected Breakdowns

Regular commercial truck maintenance reduces the number of vehicle breakdowns. Unexpected time spent off the road and in the shop dramatically outweighs moments spent performing maintenance on your fleet. Furthermore, breakdowns produce unexpected disruptions in your operations schedule, causing shipments to fall behind. After identifying an issue, do not wait to fix it! Perform a minor repair in preference to delaying it, allowing the issue to compound until major damages eliminate your truck from action for an extended period.

2.) Fewer Accidents

According to the United States Department of Transportation, there are approximately 500,000 truck accidents – supplying nearly 2.5% of all vehicle accidents in the country. Although passenger vehicle drivers majorly contribute to this shocking statistic, the poor condition of commercial trucks also plays a significant role.

Regular maintenance helps prevent unexpected tragedy. For example, brakes should be regularly examined and maintained. Waiting to examine brakes until grinding, squeaking, whining, or complete failure occurs renders the vehicle extremely dangerous – unfair to fleet drivers and surrounding vehicles. Simply put, performing routine maintenance always results in fewer accidents and smoother daily operations.

3.) Reduced Operating Cost

A Semi-Truck driving safety on a winter road after having maintenance performed.

Lessening the number of major repairs is one important facet of reduced operating cost. Maintained commercial trucks, operating at optimal functionality, also lower both your business fuel expenses and insurance bill. Furthermore, lengthening the life of your commercial truck compounds your initial vehicle investment.

4.) Increased Customer Satisfaction

As mentioned, unexpected breakdowns disrupt business operations, resulting in inconsistent, unpredictable delivery times. In the worst case, a simple breakdown potentially results in the loss of a large client. A dissatisfied client may turn to a competitor who delivers consistently, on-time, and without unexpected repairs.

5.) Abide by the Law

Surprisingly, most commercial vehicles do not meet the proper, required road safety standards. Performing regular maintenance and minor repairs ensures high probability in passing the Commercial Vehicle Roadworthiness Tests (CVRT) upon first inspection.

Commercial Maintenance Checklist

Commercial truck fleet managers are not obliged to create a proper maintenance checklist. The Federal Motor Carrier Safety Administration (FMCSA) – the U.S. Department of Transportation’s federal agency supervising commercial truck operations – outlines an excellent pre-trip vehicle check.

Pre-Trip Maintenance Checklist

These simple pre-trip maintenance checklist items can easily be performed by the truck driver. FMCSA’s pre-trip checklist includes:

– Check all truck tires. The FMCSA states that tires account for nearly one-third of commercial truck maintenance costs. Thus, careful inspection is crucial. The truck driver should especially examine air pressure and tire tread.
– Check all fluids. Checking fluids includes both searching for leakage and inspecting for adequate amounts of fluid. Pay attention to coolant, antifreeze, fuel, and oil. Finally, the driver should start the truck and ensure all dashboards lights confirm his or her conclusion.
– Check the brakes. The driver should examine the standard and parking brakes. Drivers should find proper lining, a leak-free air pressure system, auto-engaging parking brakes, a functioning low-pressure alarm, and proper air pressure rates.
– Check all electrical systems. All electrical components and wires should be verified for proper functioning, including brake lights, headlights, turn signals, flashers, clearance lights, and warning lights.
Taking ten to thirty minutes reviewing the aforementioned items dramatically helps reduce the risk of unexpected breakdown and accidents.

Scheduled Maintenance Checklist

Along with regular pre-trip maintenance, be sure to schedule in-depth maintenance checks on your trucks. If a series of effective, preventive maintenance is scheduled to occur, follow-through is highly probable! As an individual driver, it is up to you to schedule or perform regular inspections. However, if an issue arises, notify the appropriate individuals. Furthermore, companies with a large fleet of commercial trucks should hire or outsource professional technicians to perform regular maintenance, usually inside a facility. Of course, the maintenance checklist should be completed, documented, and filed. JB Tools, an automotive repair supply provider, provides a helpful checklist, including:

– Engine oil and filter changed
– Transmission fluid checked
– Fuel and cooling systems, including leaks
– Engine and transmission mounts
– Drive shafts or CV joints
– Belts and hoses
– Various tune-ups
– Aforementioned electrical system components
– Brakes
– Steering and suspension system
– Tires, wheels, and rims
– Exhaust system
– Undercarriage and frame
– Exterior and interior lights
– Body, glass, and mirrors
– Windshield wiper system
– Horn
– Seat belts and seat structure
– Auxiliary systems

Summer & Winter Maintenance Checklist

Specific maintenance should be performed during the intense heat of summer and the frigid cold of winter, as applicable to location. During summer maintenance, emphasize the cooling system by inspecting for radiator corrosion, examining the coolant system for adequate pressure, and monitoring the water pumps for leaks to assure the engine maintains proper temperature.

The winter also demands extra preventative precautions, emphasizing truck parts that may be affected by snow, ice, and extreme cold. Winter maintenance inspections may include the following: engine heaters, coolant levels, glow plug operation, exhaust system, radiator, tires, and heated mirrors.

Taking the extra precaution to perform proactive maintenance year-round – and during extreme seasons – pays off for private commercial truck drivers and companies commanding entire fleets.

Advanced Commercial Capital

At Advanced Commercial Capital, we understand that – even with the best preventative maintenance plan in place – emergencies happen, and trucking companies require extra cash. We provide excellent freight factoring services with quick funding and valuable benefits. We never surprise our customers with hidden fees or required long-term contracts.

Our clients love working with our team, and we would love to talk to you about a future partnership! To get in touch, call toll free at 855.465.4655 or reach out via our online contact form.

how to reduce transport costs

9 Ways to Reduce Freight Costs

Transportation businesses are acutely aware of freight costs, often a burden during periods of potential growth and profitability. At the same time, freight costs are often a bit of a mystery. They exist – but businesses may not know how to take control, evaluate avenues of expense, and refocus to reduce spending. In the content below, we explore 9 strategic practices to reduce international freight costs.

1. Evaluate Your Budget

As with any business, understanding where the bulk of your budget is allotted to every month is hugely important. Every time a truck is sent out, how much money are you making? Have you created a profit-loss statement recently? Tracking expenses is the beginning of taking control of your freight business finance and reducing costs. For example, are you spending an extraordinary amount on a full-time accountant? Perhaps consider outsourcing accounting services or utilizing software and tackling the task in-house.

2. Inspect Intangible Costs

Intangible costs are extraneous charges that are not apparent in a profit-loss statement. A lack of communication, workplace dissatisfaction, or poor attitudes can severely cripple efficiency and productivity – ultimately wasting resources. Spend time motivating employees, expressing a desire to communicate well, and building a high-quality team. These intangibles will impact freight costs in the long run.

3. Evaluate Trailer Loading Efficiency

When was the last time you paused to evaluate your packing freight efficiency? Packing efficiency is one of the simplest, quickest ways to reduce freight costs. Reducing the amount of dead space between freight will immediately lower rates – packaging plays a significant role in loading efficiency. Is your packaging optimal for efficiency? Cory Levins, Director of Business Development for a packaging agency, writes:

Packaging should be designed earlier in the process to adjust for transportation and warehousing needs. While dunnage, blocking, and bracing are necessary to ensure the products arrive safely, especially for a long journey, they can sometimes be used in excess. Work with your packaging supply to use the appropriate amount of dunnage for safe transportation.

4. Ship Less, in Bulk

Transporting a specific volume of goods in a single, bulk shipment is more cost-effective than sending the same volume in multiple, small deliveries. Consumers understand the significance of purchasing in bulk, demonstrated by the existence of Costco and similar suppliers. Shipping regularly, regardless of order size, often results in time wasted processing, loading, and unloading. For transportation businesses, shipping large orders in bulk – or multiple shipments combined into one – closer to the point of sale allows for greater shipment efficiency.

5. Ship Off-Peak, if Possible

Unless your transportation business deals with perishable goods, shipping off-peak is a simple way to reduce freight costs. Significant savings can be achieved by adjusting a day or even an hour or two later. Fridays and Mondays are two off-peak days.

Pursuing backhaul shipping is yet another cost-effective transportation option. Carriers should make an effort to fill empty trucks on their way back to base, always checking for extra backhaul capacity. Carriers are often most willing to backhaul during evening hours to avoid mid-day conflicts.

6. Utilize Modern Management Systems

Inventory management systems are an insightful tool for transportation business owners. Data received can be utilized to identify weaknesses within the shipping system. For example, do certain carriers average higher late delivery rates? Are specific routes prone to increased breakage? Evaluate the results and make adjustments as necessary.

7. Outsource Where Possible

Staying faithful to your niche is hugely important for a business aiming to remain profitable in the long run. If other needs arise, outsource. Ultimately, the more services and skills you attempt to tackle, the more difficult it can be to remain excellent in each. If you must get involved in other niches, or learn a new skill, it is often best to outsource to a professional.

8. Perform Regular Maintenance on Equipment

Every trucking company owner fully understands the costs associated with truck upkeep. However, surprise repairs incurred when something breaks down cost significantly more. Performing regular maintenance is cost-effective in the long-run, ultimately proving more effective than waiting for something to stop working. Furthermore, a severe repair may remove a truck from commission for an extended period of time, crippling your workflow and bottom line.

9. Freight Factoring

Freight factoring is an incredible resource available to trucking companies in need of capital – instead of waiting for payments. Factoring means immediate cash without waiting for money, ultimately allowing companies the resources necessary to grow and expand without being pressed for payments. Advanced Commercial Capital’s freight factoring program provides freight companies peace of mind – your rate will never change, and you won’t be responsible to buy back uncollected invoices. Furthermore, Advanced Commercial Capital doesn’t lock clients into long-term contracts. Freight businesses can utilize factoring services while profitable and choose to stop at any point without enormous fees.

Advanced Commercial Capital

At Advanced Commercial Capital, we are dedicated to making freight factoring as simple and easy as possible, providing every client the precise service they need. Because of our dedication to excellence and passion for the success of our clients, we have become one of the leading freight bill factoring companies in the U.S. Furthermore, your ability to qualify for factoring services is primarily based on the creditworthiness of you customers, not you – an excellent option for new companies without a robust credit history.

To learn more about our services, contact us today at 435.673.4655 or via our online contact form!

what is freight factoring in trucking

What is Freight Factoring?

Did you recently start a transportation company? Are you hoping to take your existing company to the next level? Strong cash flow is critical to long-term business success in the trucking industry – and a plethora of other industries. Experienced truckers often strongly recommend a factoring partnership for startup companies looking to succeed in business. In essence, freight factoring is a huge deal in the transportation stratosphere. Why? When should a company owner utilize freight factoring? In the content below, we explore factoring, the best time as a transportation company to look into a partnership, as well as a variety of benefits associated with the service.

What is Freight Factoring?

In short, factoring is a financial service whereby a financial institution – or factor – purchases accounts receivable from a business, typically at a discounted rate. This rate is called a factoring fee. When a transportation company sells the accounts receivable, they immediately receive cash. The factor is then legally entitled to receive payment for the invoice. Thus, factoring provides new transportation companies the ability to receive consistent cash flow to maintain trucks, employees, and day-to-day operating expenses.

Why Not Just Choose Traditional Bank Financing?

Trucking companies may wonder why factoring proves more beneficial than traditional bank financing. Primarily, qualifying for factoring services is based upon the creditworthiness of a trucking company’s customers – not the company itself. Companies with a history of integrity and honesty are often chosen for a factoring partnership; however, the weight of decision largely rests on the trustworthiness of a company’s clients. Additionally, speed is another consideration. Trucking companies can often begin a factoring partnership within a few days, while bank loan approval takes time.

Recourse Factoring

Recourse factoring differs from non-recourse in a single, significant way. While involved in a recourse factoring partnership, your trucking company is ultimately responsible for the invoice if the client does not pay in full. To minimize the risk involved, freight factoring companies often provide credit checks to guide in proper, informed decisions before accepting a load.

Non-Recourse Factoring

Non-recourse factoring protects the trucking company from falling into debt, should a client fail to pay the invoice. If this happens, the trucking company is not legally responsible to pay the bill. Instead, the factor takes the risk of the freight bill not being paid. As one may assume, non-recourse factoring fees are typically a little higher than recourse factoring. However, this option is often best for a young transportation company that cannot properly handle the risk of a client who doesn’t pay.

When Should I Utilize Freight Factoring for Trucking?

As mentioned, savvy trucking professionals with years of experience often recommend freight factoring as soon as possible. You should utilize freight factoring as a new company, looking to succeed in the long run, or an existing company in need of consistent cash flow to grow and develop. Immediate, reliable cash flow is important for a startup transportation company. Processing payments takes time, emergencies arise, and clients sometimes fail to pay in full when required.

Furthermore, as a new business, you may not possess a robust, positive line of credit – often the only way to receive access to funding as a company. Freight factoring companies understand that startup companies are frequently without an established line of credit. Startup companies often do not have the time or expertise to properly handle invoicing and collections without stress. Freight factoring companies deal with the general accounting responsibilities associated with invoicing and collections, allowing you to manage other daily tasks with peace of mind.

Finally, fluctuation happens in business, and freight factoring partnerships provide the flexibility startups require. Most factors require long-term contracts, but Advanced Commercial Capital does not lock you into a long-term contract. Instead, the service is provided as you need cash flow to fund your business.

What are the Benefits of Freight Factoring?

1. Factoring Is Debt-Free

Debt is an unavoidable necessity and often associated with starting a business. However, in the transportation industry, this is not always the case. Funding your trucking business with freight factoring allows for debt-free business startup, because factoring is not equivalent to requesting a loan.

2. Factoring Is Beneficial for a Growing Business

When demands associated with business growth weigh on your shoulders, factoring provides an incredible opportunity to hire drivers and purchase trucks before receiving payments. As demand increases, factoring allows you to fall in step with business growth and thrive in the industry.

3. Factoring Offers Flexibility

As mentioned previously, freight factoring with Advanced Commercial Capital can be a short-term arrangement, but can also be a long-term financial tool to help you meet your business goals. If you need to factor some but not all of your invoices, that is perfectly acceptable. Factoring is designed to aid trucking companies as needed – and not necessarily be an all or nothing service.

4. Factoring Allows for Invoice Tracking

After a load is delivered, a trucking company may not receive payment for 30-90 days, depending on the specific contract. But through factoring, trucking companies get paid immediately. Additionally, factors generally keep track of invoices and handle collections, so you don’t have to.

Advanced Commercial Capital

At Advanced Commercial Capital, we provide the best service with the most competitive rates in the factoring industry. We always keep our client’s best interest in mind, dedicated to doing everything possible to help our clients succeed. We see ourselves as your financial partner. Below, we’ve listed a few benefits associated with working alongside our company:

• No long-term contracts
• No application fees
• No setup fees
• No termination fees
• No monthly service or maintenance fees
• No liability to you if the debtor doesn’t pay
• None of your money will be held in reserve
• Non-recourse factoring – we take all the risk!
• Payment with legible copies
• Education with a patient, experienced staff

These benefits are only a small sampling of the industry-leading factoring services we offer! To learn more about our company, feel free to give us a call today at 855.465.4655 or reach out via our online contact form. We look forward to helping you discover the right financial solution for your needs.

truck driver safety tips

Truck Driver Safety Tips

With an estimated 15.5 million trucks operating daily on roads in the United States, it’s important to keep your drivers safe (TruckingInfo.net). Training drivers to be safe and careful while delivering loads is key to growing your trucking business, as it can impact your company’s finances, fuel costs, and truck maintenance expenses.

Here are just a few of the trucking safety challenges for commercial drivers. Even if they seem routine or predictable, it’s important to make sure your drivers remember them.

Large Blind Spots

Limited visibility calls for extra caution in passing and being passed by other large vehicles on the road. Large trucks also need to maintain a longer following distance so they can see all of the vehicles behind them. Cars are often ignorant of the blind spots that trucks have, so it’s up to truck drivers to be vigilant about spotting where cars are moving. Extra side mirrors can be helpful in improving visibility.

Long Stopping Distance

Trucks traveling 65 miles per hour take up to two football fields to stop, so it’s important to have a ‘buffer zone’ in front to protect your drivers and your trucks. The more following distance in front of the truck, the more time drivers have to correct or slow down if other drivers cut in or stop suddenly.

Limited Maneuverability

The turning radius for a truck is 55 feet, so check for smaller vehicles that try to get by when you’re turning. Be aware of the impact a truck makes when accelerating, stopping, and maneuvering between lanes or making a turn. Slowing down significantly for curves and ramps is also a key point to remember – especially with a truck’s higher center of gravity.

Incentivize Safe Driving

To help ensure safe driving, many trucking companies offer small bonuses for driving without any speeding tickets or other citations for a certain period of time. By monitoring driving records – something you’re most certainly doing already – you can identify which drivers have earned bonuses or other rewards for their compliance.

The Financial Benefits of Safe Drivers

Training your drivers for better safety provides benefits not only for drivers, but for your trucking company’s finances.

  • Reduced incident rates decrease crash-related liability costs
  • Leveraging safety ratings to retain and hire more drivers
  • Better productivity by keeping drivers on the road
  • Lower insurance costs

Safe driving is good for your reputation, your finances, your drivers and their families. Additional FMCSA tips for CMV drivers can be found at: https://www.fmcsa.dot.gov/ourroads/tips-cmv-drivers.

 

 

 

3 Ways to Help Prevent Trucking Fraud

3 Ways to Help Prevent Trucking Fraud

With the increase in use of digital technologies (many that we highlighted last month) unfortunately comes a surge of trucking fraud scams that are being run on companies.

One of the top swindles running rampant these days is deceptive soliciting. A person may call or send official-looking emails or letters posing as a representative from the Federal Motor Carrier Safety Administration. In these letters, they’ll claim to be citing you for various violations and associated fines. The scammers will usually do research on legitimate Department of Transportation regulations, so that their scams seem extremely real. They may ask you to pay extremely high fees, or demand that payment be made through specific wiring instructions. This should send up a red flag and prompt you to investigate the claim. This could be as easy as a call to the FMCSA.

Fraud Prevention for Trucking: What is Being Done?

The Federal Trade Commission has filed a number of lawsuits against companies who’ve scammed thousands of truckers with these deceptive practices. But unfortunately, there are still many people running this particular scam. Your basic carrier information is publically available when you submit an application or update your information with FMCSA. This can leave you open for these fraudulent companies to get your information and target you.

How You Can Avoid Scams:

  1. Recognize imposters. Before you send any money or give out information in response to a request, contact the actual agency or business that the request has come from, to determine whether or not it is legitimate. You can also sign up for free scam alerts from the Federal Trade Commission at www.ftc.gov/scams. You can get great tips and advice about scams that are going on through these updates.
  2. Know the rules. The FTC will never ask you for money. Also, the U.S. Government does not endorse private businesses or vendors, and the use of a service provider is NOT required by FMCSA. For example, one scam is designed to get trucking companies to sign up for their service claiming to easily pay your annual Unified Carrier Registration fees. However, their “service” will actually charge truckers for more payments and higher amounts than their actual fees should be for the year. Remember: you are NOT required to use third-party administrators to take care of your compliance fees.
  3. Report fraudulent practices. You can help stop these deceitful practices and avoid becoming a victim of scammers who target truckers. File a complaint for any aggressive or misleading marketers to the Federal Trade Commission at www.FTC.gov/complaint. You can also report a fraudulent request for information to the Department of Transportation through the Office of Inspector General via https://www.oig.dot.gov/hotline.

For the health of your business, it’s important to become aware of the scams that plague the trucking industry. Check our Facebook and Instagramaccounts throughout the month to learn more about cons you want to avoid.

trucking technology

Trucking Technology: How to Grow My Trucking Company With the Latest Tech

After analyzing 2015 data, the Federal Motor Carrier Safety Administration reported decreases in both large truck injury crashes and large truck property damage crashes. One reason why these numbers are improving is because of new trucking technology.

Advanced collision mitigation systems, for example, have sensing technology to monitor for crashes and can take emergency action to avoid them. Using this technology can improve truck driver safety on the roads, but technology may also be used to help trucking companies when it comes to earning better profits for their business. You may want to consider some of the following ideas to determine if investing in technology in the trucking industry can help you grow your trucking company.

Trailer Tracking Trucking Technology

This type of system can offer real-time help with loss prevention, warning drivers of high-theft areas, and giving law enforcement data to recover stolen trailers. But it also provides companies the ability to look at the utilization and productivity of their trailers, to see whether or not they’re being maximized in use. The maintenance of trailers is another benefit to trailer tracking, as new systems can attach the maintenance data and records to a specific trailer, creating more consistent inspection plans for companies.

Dynamic Routing Technology

This technology aids efficiency by using real-time traffic and weather information to help drivers adjust to the best possible routes. This can increase profits by allowing trucks to use quicker routes, avoid major collisions, or detour around traffic congestion for more on-time deliveries. And of course, more efficient routes can mean better customer service and lower fuel costs.

While technology hasn’t completely solved many of the problems the industry faces, such as driver shortage and infrastructure issues, there are ways to use technology for your benefit. Taking the time to look at the latest options can help you determine what technologies might help your trucking business grow and succeed.

Throughout this month, our Instagram and Facebook posts will highlight additional technology advances, including transparent and efficient ways to bid for loads that match drivers’ availability and preferences. We’ll also take a look at other software developments that focus on better ways for truckers to make payments for fuel and freight transactions. Stay tuned to ACC on social media to learn more.

how to collect unpaid invoices from customers

Unpaid Invoices: Learn to Collect

Everyone looks forward to pay day. Sadly, it can be very frustrating for small and medium sized trucking companies to deal with customers who don’t pay their invoices on time — or at all. If your trucking business is dealing with this issue, here are a number of ideas on how to collect unpaid invoices from customers and improve your invoicing process.

Take proactive steps prior to issuing invoices:

  • Establish both credit limits and payment terms with each customer before you begin working with them. Payment terms of 15, 30, 45, or 60 days are common.
  • Use a reliable invoicing system to track when invoices are issued, with automatic alerts that trigger when an invoice is past due.
  • Once an alert is received, establish a standard process for collection emails or phone calls to be made immediately.
  • Create a straightforward invoice format. Make sure each invoice clearly indicates the amount due including any detention time and lumpers, payment terms, load number, and where to send payment, so there is no misunderstanding.
  • Determine if you want to offer early payment incentives for customers who have been consistent in paying their invoices. Some companies will offer a small discount for payments within a certain number of days.

Issue accurate invoices systematically:

  • Issue the invoice to the customer as soon as a job is complete.
  • Select a specific date each month or day of the week for invoicing, so you don’t get sidetracked with other business.
  • Schedule follow up calls to confirm your invoices were received, and give customers a friendly reminder of when payment is due.

Collect on late payments efficiently:

  • Make calls to inquire about late payments, maintaining a calm and polite tone as you issue the request for immediate payment.
  • Establish procedures for when to involve a 3rd party collection agency, and if the benefits are likely to outweigh the costs.
  • Establish credit terms for all customers, but be flexible enough to make term adjustments for customers who consistently pay late. If problems persist, it may be time to consider terminating future business with that particular customer.

As you establish consistent, effective invoicing and collection processes, your payments can be collected more efficiently to improve your cash flow. You may also consider using Advanced Commercial Capital’s non-recourse factoring service to get immediate payment for invoices. This ensures that collection efforts don’t become costly or interfere with your ability to run your business.