2018 was a big year for mergers, and a number of big deals across several industries are going to change the way business is conducted in the new year.

Take the e-commerce sector, for example, where Financial &Risk U.S. Holdings Inc. purchased Refinitiv for $17 billion. In food and beverage, Keurig Green Mountain Inc. (yes, the company famous for its coffee pods) purchased the behemoth Dr. Pepper Snapple Group for $26.6 million.

Finally, in perhaps the biggest merger of 2018, T-Mobile purchased Sprint for 58.7 billion, which will no doubt shake up the wireless communications world for years to come.

Mergers, like any other form of business growth, require capital. Without access to steady, reliable cash flow, businesses of any size in any sector will find themselves struggling to keep up with their competitors. But how are startups, small to midsize companies, or larger enterprises who find themselves dealing with a lean year supposed to stay in the race?

Many companies across many sectors rely on invoice factoring to secure the cash on hand necessary for overhead costs as well as growth opportunities. Many companies know all too well the reality of having huge sums of money tied up in unpaid customer invoices.

The money has already been earned, technically, and is or should be on the way, but oftentimes companies don’t have access to the funds they need when they need them. This is why factoring invoices have become such a mainstream tactic to keep positive cash flow, especially in an industry like trucking, where bank loans are often frustratingly difficult to procure.

When opportunities for growth present themselves, having your money freely available is the key to seizing the future.

Transportation Factoring for Truckers:

In trucking, transportation factoring (a particular form of invoice factoring), allows carriers to seize on the value of unpaid invoices, rather than waiting 30 to 60 to 90 days or more for the funds to come through. With the cost of a small factoring fee, your business can reinvigorate its stagnant cash flow, and take advantage of a number of other value-added perks at the same time.

For example, factoring company for trucking doesn’t only give you access to funds when you need them.

Transportation Factoring for Truckers

Typically, carriers that factor their A.R. will receive 90 to 95% of the value of their invoice upfront, minus the factoring fee. A reserve amount is held back until the invoice is collected on by the factoring company, and is then remitted to the carrier at that time.

Freight Factoring from Accutrac Capital, to give just one example, offers:

  • Advances of up to 97% of the invoice value
  • Cash in as few as 24 hours
  • Professional accounts receivable services, and diplomatic collection tactics to ensure your clientele stays happy
  • The ability for your business to take on more jobs and haul more loads to grow your business
  • 24-hour access to your online account
  • The ability to make timely payments to your truckers and to pay your suppliers in a prompt manner

If you want to learn more tips for truck drivers to be more profitable and for owners to ensure better access to capital, consult their blog for more insight. For example, factoring doesn’t only give you access to funds when you need them. Top-tier factoring companies will also offer added benefits including truck stop scanning, fuel advance programs that include FTS fuel cards, as well as risk mitigation through unlimited credit checks on the present and prospective customers.

In trucking, like in e-commerce, finance, or any other market, capital is king — and finding the right financing plan to ensure you always have the working capital you need should be your top priority in 2019. You don’t have to be in mergers to understand the value of reliable cash flow!

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Arina Smith

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at OnlineNewsBuzz.

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