Cashflow Corner presented by TriumphPay …Summer is almost upon us and with that comes hot temperatures. So how can you stay cool, and just as importantly, how can you keep your truck running?
Techpertise together with TMW Systems …There are a number of reasons why throughput is a superior asset utilization metric for transportation companies.
Presented by Reliance Partners…While there are loads of ways to save on insurance costs, some aren’t as realistic as others. We’ve distilled it down to a concentrated Top 5.
Cashflow Corner presented by TriumphPay …Truck operators have a number of regulations they must meet to operate in California, including trailer and refrigeration unit mandates. Failure to do so can lead to big fines.
Techpertise together with TMW Systems …Artificial intelligence technology is rapidly maturing, and transport and logistics stands to gain the most of almost any industry. We discuss recent work analyzing AI use cases and ROI in transportation.
Presented by Reliance Partners …The jury is still out as to whether or not ELDs actually make our roads safer, but many say they’re working.
Cashflow Corner presented by TriumphPay …The interview process is just one area where companies can be tripped up by asking the wrong questions, which could potentially place them in legal jeopardy.
Presented by Reliance Partners …CAB compiles data and translates that into actionable information for insurers and underwriters to make more informed decisions on carriers.
At the keynote for the second day, the focus is on the speaker’s three-part book title: machines, crowds and platforms.
Cashflow Corner presented by TriumphPay …When a customer refuses to pay their bill, or simply delays paying it, brokers and carriers alike can be stuck with a lack of cash on hand and few options.
In partnership with Reliance Partners …It isn’t easy, it isn’t quick, but having a safety culture in your company can pay some clear dividends.
Cashflow Corner presented by TriumphPay …Large fleets are benefited for years from fuel and maintenance discounts. Now, smaller fleets and owner-operators are starting to reap some of those same benefits.
Digital freight broker Convoy staked their claim in the freight market by doing something that few have had either the ability to or desire to do before: automate detention. Read the Full Article
Presented by Reliance Partners …Cargo theft doesn’t just happen on the road, it can also happen at the warehouse. To prevent it, leading experts noted some of the approaches that scare away thieves.
Techpertise together with TMW Systems …Tim Leonard and Daniel Pickett discussed blockchain in front of an audience of trucking executives at the TCA Annual Convention in Kissimmee, Florida, this week.
Three years after launch, Convoy has gone national. And with it a new detention feature that will automatically pay drivers who are held up for more than 2 hours at a facility. Read the Full Article
Cashflow Corner presented by TriumphPay …There are several basic mistakes owner-operators tend to make and each can put their business in jeopardy.
Presented by Reliance Partners …As if insurance requirements are not confusing enough for truckers, there is additional insurance policies some truckers or carriers need that others do not. This includes intermodal insurance coverage
Cashflow Corner presented by TriumphPay …Nexus is when a trucking company owes taxes in multiple states, but many companies are not aware of when this happens because of confusing state laws.
When a 3PL is involved in moving goods, there are a number of liability areas where that 3PL could be held responsible, from the actions of the carrier to condition of the goods.
Cashflow Corner presented by TriumphPay …There is another option to acquiring good paying freight for carriers, and that is government freight.
Presented by Reliance Partners …For truly safe trucking companies, chameleon carriers are a problem. But it is one that data is helping solve.
Techpertise together with TMW Systems …TMW Systems CTO Tim Leonard discussed recent data management white papers and the future of machine learning applications for the trucking industry.
Cashflow Corner presented by TriumphPay …There is no shortage of deductions that truckers can take. You just need to know where they are.
Insurance & Risk Management presented by Reliance Partners … U.S. companies moving freight across the border need additional insurance to cover their Mexican drivers, even if it is only within the border zone
Insurance & Risk Management presented by Reliance Partners … While the number of recorded cargo thefts in 2017 declined to 649, the group said, the threat remains, and according to Scott Cornell with Traveler’s Special Investigations Group (SIG), may be underreported.
Techpertise together with TMW SystemsTechnology platforms have enabled the Dart Network to automate the bidding process, leading to a more efficient system that better utilizes company resources.
From a merchant perspective, Shipping with Amazon would provide increased competition in the shipping space, while also providing Amazon with more data about the products people are buying.
Cashflow Corner presented by TriumphPayDetention of drivers remains a significant problem in the industry, with few solutions in sight, although ELDs may be able to help smaller fleets and owner-operators enforce detention policies.
It seems so simple, but basic attention to detail can help prevent an unwanted interaction with law enforcement, which can lead to increased insurance premiums.
Cashflow Corner presented by TriumphPay You’ve taken the leap and decided to purchase your own truck. Or maybe you run a small fleet and have a handful of trucks. In either case, the next challenge is upon you: maintaining those vehicles, because if a truck isn’t running, it isn’t making any money.
Predictive maintenance is something that has been talked about for several years. The ability to identify when particular components might fail, or to proactively replace components before they fail based on past data trends has been referred to as the Holy Grail of vehicle maintenance.
Trucking companies face high insurance costs, and few are higher than new venture insurance for new carriers. Some steps can be taken to help lower that initial cost, though.
With more regional and local deliveries due to e-commerce, there is more opportunity for truck drivers to find less-than-truckload freight, but knowing how it is billed is critical to winning contracts.
As seemingly simple as the rule sounds – ensure food is safe during transport – it is anything but. The FDA’s food safety regulation, says, Sam Rizzitelli, transportation practice lead for the Americas for Allianz Global Corporate & Specialty, has opened up new concerns from an insurance impact.
Reliance Partners, a leader in transportation and logistics insurance and risk management, announced today that it joined the Blockchain in Transport Alliance (BiTA).
The demand for tech-based solutions is creating a wave of innovation in the startup world. Keep reading to learn about the top 15 companies who are leading the next era of tech disruption.
Despite all this good news, an underlying problem remains for many truckers – getting paid. There are still some shippers that are dragging their feet when it comes to settling their bills, and that leaves carriers short of cash.
In what will come as little surprise to anyone who has recently renewed their commercial insurance policies, rates are going up. The bad news is that there doesn’t appear to be an immediate end in sight, according to a new report from A.B. Best.
Manual processes may appear cheaper at first, but studies have shown that switching to automated accounting programs for account payables and receivables saves money in the long run, even for small operations.
In the last few weeks, there has been a lot of confusion in the driver community regarding the per diem, which has been eliminated for company drivers under the new Republican tax plan.
Owner-operators have unique insurance needs, and it matters whether you have your own authority or are leased to a carrier. Either way, it’s important to understand what coverage you need and find policies that fit your budget.
A lot has been spoken about how the freight industry is sluggish on the uptake with regard to adopting technology, but the truth is, the industry needs a better understanding of demographics than it does technology.
Recently, there were a couple of Facebook posts from owner-operators asking for advice on where to look for new insurance. One poster said their insurance company was dropping them because their “maintenance scores” were too high. What, they asked, did that mean?
With third-quarter GDP coming in at 3.2% growth and fourth-quarter GDP also expected to best the 3% mark, which would be the third consecutive quarter of 3%-plus growth, and a newly minted tax plan promising to start moving the economy forward, times would appear to be ripe for trucking.
The saying goes that there are only two certainties in life: death and taxes. If you’re a commercial vehicle operator, though, you can add another: rising insurance costs.
For business owners, one of the main questions surrounding the new tax law is the corporate tax rate. At 21%, it is lower than the pass-through rate for businesses, which is capped at 25%. That has some asking the obvious question: Should I change my company’s status from a pass-through corporation to a corporate structure?
With millions of commercial vehicles now running electronic logging devices (ELD), concerns have been raised about cyber attacks. That concern is leading to more interest in cyber insurance policies.
It is estimated that truck driver vacancies have reached nearly 50,000 this year and if the trend continues, it could explode to six figures in the next decade. Could immigrants fill those gaps?
The days of drivers carrying around multiple credit cards to handle life on the road are quickly disappearing. Once, drivers might have a company credit card for expenses, a fuel card to pay for fuel, and even their own card for non-job-related expenses, but that is all changing as innovations in fuel cards might be making the company credit card obsolete.
While more and more fleets are utilizing thousands of data points to make operational decisions, insurance providers are tapping into those same data points to help create more accurate risk profiles of carriers and their drivers to build improved insurance offerings for those fleets. And at a lower cost in some instances.
The increasing use of mobile technology has spawned a new industry that many in trucking – from drivers to fleets – can take advantage of: peer-to-peer (P2P) payments.
A few years ago, cameras in trucks were viewed negatively by nearly everyone. That has started changing as more providers perfected the systems and word started getting out on how a camera could save a fleet from a million-dollar lawsuit, not to mention reducing risky driving behaviors.
When you run a trucking business that has weekly and daily bills such as salaries and fuel, but shippers pay at 30, 60 or even 90 days, ensuring you have the proper cash flow to maintain operations can be tricky. That’s why many owner-operators and smaller fleets have turned to invoice factoring.
Larger fleets sometimes control their insurance costs by self-insuring. Smaller fleets, though, often don’t have the financial resources to self-insure, so more of them are turning to “captive” insurance programs.
Fuel surcharges have a long history in the transportation industry, dating back to the Arab oil embargo in 1973 by most accounts. While the early days of surcharges were straightforward to calculate, that is no longer true, and they may not even be the best way to manage costs anymore.
If your small trucking company seems like it is operating on a week-to-week basis, you are not alone. According to a new survey from Mercator Advisory Group, 75% of small businesses in the U.S. routinely delay purchases at least once or twice a year because of cash flow issues. You can minimize this impact, though, through proper planning.
Fleets do not have to be stuck paying high insurance premiums as there are a number of choices they can make to lower their risk profile and cost. Here are 10 ways to help do that.
There are times in every business owner’s life when you need cash. The business has hit a rough patch, an unexpected expense has arrived, or a new business opportunity has presented itself, but you don’t have the money to take advantage. So how do you get the money?
Like taxes, insurance can be confusing. Many carriers, especially smaller carriers without dedicated insurance experts on the payroll, are at the mercy of an insurance provider. But armed with a little knowledge, carriers can make more informed purchasing decisions.
Filing your taxes can be confusing enough, try writing tax law. The complications in writing a tax law is one of the reasons the nation has not seen a major revamp of current law since the 1980s. Here are some of the key provisions in the draft bills.
Many commercial trucking companies will never be impacted by cargo theft, but that doesn’t mean they shouldn’t be prepared. Cargo theft is a multi-million-dollar problem, and like all problems, somebody is going to pay for it.
As 2017 winds down, many carriers are taking a hard look at their tax situation. Is there anything they can do now that can reduce their tax liability? There is, and it comes in the form of equipment purchases.
Using onboard video cameras can not only reduce risky driving behaviors, they can also lead to a significant decrease in insurance premiums, with one fleet reporting it saw its insurance premiums drop 55%.
Chances are pretty good you got into trucking to make money. Some carriers, though, continue to suffer through lean year. They are always running short of money, and can never seem to get ahead. Their problem may be their hauling rate.
There is no requirement for cargo insurance, but that doesn’t mean you shouldn’t have it. As you search for motor truck cargo insurance, you will find various plans at various price points. Like those homeowner’s policies, no two are the same. So how do you know what you should be looking for?
Whether you own a car, pickup or tractor-trailer, it’s a decision that we all face at some point: Should I just buy a new vehicle or continue to repair my current one?
Fleets using ELDs say they reduce manual processes related to HOS compliance, reduce compliance violations, and improve driver and public safety. All of these benefits provide fleets another benefit: potentially lower insurance costs.
Managing any small business can be stressful. The fact is many small businesses fail. The number one reason for small business failure is the lack of proper cash flow management, according to U.S. Bank. That’s why it’s so important to learn how to manage your cash when times are good.
Rates are going up, but how can your carrier grab the largest increase possible? There are many things to consider when it comes to rates, but it all starts with knowing your own costs.
When one of your customers files for bankruptcy, do you know what to do? Taking the right the steps immediately can help ensure you will receive the money you are owed.
The first two weeks in after a bankruptcy filing of a customer are critical to ensuring you get paid. Trucking companies, especially smaller carriers and owner-operators, are often at the end of that line – the so-called unsecured creditors. But it doesn’t have to be that way.
When a major retailer such as Toys “R” Us files for bankruptcy, a long line of creditors comes knocking. Trucking companies, especially smaller carriers and owner-operators, are often at the end of that line – the so-called unsecured creditors. But it doesn’t have to be that way.
One of the early entries in the so-called and really misnamed “Uber for trucking” movement, Convoy found immediate backers with the likes of Jeff Bezos, Marc Benioff and Henry Kravis when it launched in 2015. Since then, hundreds of companies have tried to enter the field of digital freight matching, including Uber itself this year. […]
