3 Tips To Streamline Your Trucking Business Right Now

By 10.12.17August 5th, 2020No Comments
accounts receivable factoring

1. Get Your ELD in Place By Dec. 18, 2017

The biggest regulation in 2017 is the Electronic Logging Device (ELD) mandate and it’s just around the corner. In order for drivers to remain compliant they must be using an ELD service by December 18th. The Federal Motor Carrier Association (FMCSA) estimates the mandate will impact about 3.5 million drivers.
To avoid fines, paper work, and a huge headache, it’s important to get your ELD in place before the deadline. We’ve done some research and recommend Transflo’s cost-effective and easy to implement ELD solution. Call us if you’d like more information.

2. Leverage FREE or Inexpensive Smartphone Apps 

Streamline your operations, save time and money with these apps:

  • Gasbuddy– Using information provided by over 60 million users, find gas stations by distance or price. You report gas prices and help other drivers like yourself.
  • Transflo Mobile–With the ELD mandate approaching, this is an app that not only keeps track of hours of service (HOS), but driver vehicle inspection reports (DVIR) and a lot more when connected to a Transflo T7 ELD.
  • Trucker Path Pro– Wondering where to fill up or park? Hear from other truckers on this app with shared tips and tricks. Use the interactive map to find everything you need on the road.

3. Understand Your Financials and Make a Plan

Knowing when you’re getting paid, where your money is, and how you’re spending it is extremely important when you want to run a profitable business. If managing your finances is not your strength or if you just don’t have the time, don’t worry. There is a lot of support out there!

  • Stay organized when you use apps like Mint or QuickBooks to manage your books online and on the go.
  • Outsource your accounts receivable to a factoring company like eCapital. Factoring gets you paid quickly and you don’t have to worry about billing or chasing down payments!
  • Consider a Working Capital Advance to cover expenses or to grow your business. It’s not a loan and less than perfect credit is ok!

At eCapital getting the funds you need to grow your trucking business is quick and easy. You don’t have to wait to get paid, we can get you cash within 24 hrs. So you can get back to what’s important, running your business.
Call us at 760.456.3786 to get started today!