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Archives for June 2018

Freight Factoring Gives You Working Capital

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Growing companies in the trucking industry need consistent cash flow in order to meet their operational needs, take on new business, invest in new equipment, and make important repairs to keep their fleet on the road. Anyone who runs a trucking business knows that slow paying customers or customers with extended terms are one of the reasons why keeping positive cash flow can be a challenge. This is why a truck factoring company can eliminate cash flow freezes and improve overall business.

transportation factoring

 

Freight factoring — also known as transport factoring — refers to the process of selling customer accounts receivable to a third-party factoring company at a discount. This type of factoring for trucking companies helps carriers keep a steady amount of cash on hand to reinvest in their business.Different from a bank loan, which carries with it a hefty interest rate, invoice factoring is a one-time financial transactionthat involves selling accounts receivable invoices for cash upfront.

Unlike banks, which actually profit from nonpayment of loans, a third-party factoring company like Accutrac Capital wants to see your trucking business succeed, because the more you grow your business, the more invoices you can continue to factor. Transportation factoring is a tool particularly well-suited to the transportation and trucking industry because the cash on hand it provides allows carriers to take on larger loads or contracts with slower paying customers. And of course, when slow paying customers or customers with extended terms no longer affect cash flow negatively, carriers are more eager to bring them on.

Trucking companies who regularly factor their invoices have instant access to the working capital they need — money that might otherwise be locked down for weeks or even months while waiting for customers to pay. Furthermore, factoring gives you the ability to attract potential customers, as it allows you to leverage and negotiate with suppliers and vendors. With valuable working capital on hand (instead of locked down as an unpaid invoice), you are able to negotiate more favourable terms, as well. In a nutshell, transportation factoring means improved probability for your trucking business overall.

Working with a reputable factoring company such as Accutrac Capital means access to favorable terms such as:

  • Some of the most competitive transportation factoring fees in the industry
  • Favorable advance rates up to 97%
  • Zero application or due diligence fees
  • Available same day funding
  • Free AR management, as factoring companies collect unpaid invoices on your behalf
  • Free risk management in the form of credit checks to vet prospective new customers and set limits
  • Factoring for trucking companies comes with considerable perks including fleet fuel cards

Freight factoring is a mainstream financial tactic that can help carriers with cash flow problems. For many carrier fleets, the costs of daily operations can really add up. Because many fleets can’t afford to wait three months to receive payment on deliveries already made, more and more owners are relying on invoice factoring to bolster their available cash on hand. By working with a reliable factoring company, fleets can get money upfront and continue operations without a hitch.

Filed Under: Money

How to save big on Amazon automatically

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Around here, we often talk about how being frugal does not necessarily mean not spending any money, but rather getting the best value for your hard earned cash. Frugality is not self deprivation and misery, it is spending money on what makes you happier, more comfortable, and generally improves your quality of life.

For example, here are a few items I never cut corners with: a mattress, kitchenware, and anything else I use on a daily basis. What is the point of life if you wake up sore and tired after a sleepless night in a terrible bed? Life is too short for that. You spend over a third of your day in your bed, your body deserves some serious rest. The same goes for kitchenware. Cooking every day with useless knives and sticky pans? No, thanks. The first thing I would do if I had such bad equipment would be to order take out, which completely ruins the frugality mindset.

So while this is technically not an investment, I consider spending extra on quality and durability a kind of investment. I want a low cost per use, not a  low cost period. Using $5 bath towels for a month and throwing them away is way more wasteful than buying a fabulously comfortable $20 towel that will last you years, and be a source of joy every time you step out of the shower.

Still, while spending on quality is not an issue, a true frugalist will look for the best bargain while on the hunt for the perfect durable item. I used to google “coupon XYZ” every single time upon checkout, but thanks to technology, this is not something you need to do anymore. There are apps that will do all the hard work for you, scout the web for discounts and coupon codes, and automatically apply them for you at checkout.

Dealgogogo is one of them. This is a Chrome extension that is free to download, and focuses on Amazon coupons. The link will take you over to their landing page, where you can download the Chrome extension and start saving big on Amazon.

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You can shop the deals on their own website, by category or by entering a particular brand in their search bar. For example, I went searching for kitchen utensils and it gave me a list of knife sets and other kitchen sets with a 10 to 50 per cent discount.

dealsgogogo2

You can filter the deals by date, popularity, percentage discounted or find the ones offering free shipping.

But mostly, you can just make your life simple, add the extension and enjoy your savings. Why would you use the search feature? Well, if you are not set on a particular brand for an item you need, you may find that presenting the options in order of higher discount might bring to your attention a brand that may not have been featured like that in your Amazon search results.

Nevertheless, I’m all about automation and ease of use. Looking for coupons online can get tiresome. Especially when you are on Amazon already, and your cart is all full, and you really want to call it a day and proceed to payment. Having an extension doing all the hard work in the background takes away the frustration of expired coupons, or spending an hour to find a $0.50 off coupon.

You keep going with your life, and they tell you if you can save something or not. Easy.

The coupons in Dealgogogo’s database are all current, and they are directly approved by the sellers, so you know they will work.  The deals are applied while you browse around on Amazon, without any work required on your side.

In order to start saving on Amazon, click here to install the Dealgogogo Chrome extension. Then sign up for a Dealgogogo account, and resume your Amazon shopping as usual.

 

Filed Under: Save Money

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