As an Account Manager, I work with about 75 to 100 different businesses. Every day is different, but I always know that I'll get a glimpse into their work, whether that's hearing about an interesting load or a particularly [...]
A cash reserve for a business is what a personal savings account is for an individual: A pool of savings to draw on when unexpected financial issues arise. A cash reserve can be the difference between going out of [...]
Transportation Factoring companies are financial institutions that buy a carrier’s receivables, take ownership of the invoice, and then collect on the amount due to provide the carrier immediate liquidity to fund their day-to-day operations. This transaction can yield cash [...]
Factoring companies have two primary types of agreements when it comes to funding your freight bills: Recourse and non-recourse factoring. There are pros and cons to both types of agreements. As a client of a factoring company, you must [...]
Currently, no uniform system of record keeping is available for the freight industry. While there are hundreds of computerized records keeping systems for transport carriers, the vast majority have no uniform system of cost accounts for yielding financial data to make freight pricing decisions.
In 2020, successful businesses know how to harness financial statement data. But for transport carriers, government deregulation of the industry has made it hard to come by standardized facts and figures for decision making. Jerry Noonan, CPA and the founder [...]
As a business owner, you know cash on hand allows you to invest in new equipment, pay expenses and even negotiate more favorable terms. But operating a successful business is more than just having cash on hand. Organized management [...]