How Streamlining the Processing of Driver Payments, Customer Invoicing & AP Can Increase Profitability for Trucking Companies by Adhering to Best Practices
While the trucking industry is exploring the use of self-driving trucks to replace this country’s 1.7 million truck drivers as well as other ways to use technology to increase delivery efficiency and overall profitability, the industry is still mired in paper and electronic documents that require a lot of manual labor to process.
The Financial Pain of Paperwork in Trucking
The slow processing of paperwork may seem no more than a headache for AR and AP, but it can have a grave impact on profitability of your company:
- Late payments to drivers can increase turnover, which is already at 100% for large carriers and has been as high as 200% in some instances
- Slow customer invoicing and ability to show proof of delivery in a timely manner impedes cash flow
- Slow payments to vendors can strain relationships and erode the quality of services you receive
How can technology and outsourced services be used to streamline processing and reduce or eliminate all of these problems? Read our new whitepaper to find out.
Our new Trucking Document Workflow Best Practices whitepaper identifies how trucking companies can utilize workflow automation software, document management and business process outsourcing (BPO) services to streamline transportation document processing so that drivers are paid faster, customers pay faster, vendors are happy, and overall cash flow is healthy.
What more could you want in a whitepaper?