Because the industry is so competitive, freight debt collection is essential for transportation and freight delivery companies. In this business, you are more susceptible to higher risk when opening a credit account for shippers.
In addition to being highly competitive, by its very nature, transportation and freight delivery is capital intensive.
Implementing a successful freight debt collection strategy will ensure the success of all facets of your business. Equipment payments must be made. Repairs and regular maintenance must be conducted, and fuel bills must be paid. Depending upon your business, you may even encounter currency exchange issues that can negatively impact your transport business.
The margins on transportation and freight are also highly competitive. Your continued success is dependent upon your accounts receivable turning over efficiently and with as little risk as possible.
Some trucking and courier companies resort to factoring the receivables. While factoring solves the immediate cash flow issue, it only compounds your margin problems. It makes it difficult to move away from a factor and keep more of your cash in your pocket.
If you are having difficulties with your receivables or margins, you may want to consider a freight debt collection service like Priority Credit Management Corp (PCM Corp).
At PCM Corp, transportation and freight receivable collections are made simple using our exclusive tools. We can help you keep more of your hard-earned revenue and give you better visibility and control over your cash flow.
With our PCM Pro Plans, we can help you take control of your cash flow and freight debt collection, while maintaining the great client relationships that you’ve worked so hard to establish.
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