Denim hit a major milestone this quarter: over $2 billion in payments processed for brokers, shippers, and carriers across the country. With hundreds of broker and fleet customers trusting Denim, this milestone isn’t just a number; it’s a symbol of Denim’s commitment to making the freight industry’s cash flow smoother and faster.
Denim’s mission has always been to support freight businesses by getting money moving faster and removing roadblocks in day-to-day operations. And with this $2 billion mark, it’s clear that Denim is helping to create real change in the industry.
This past year, we didn’t just sit around—we kept pushing forward and made real progress. Denim’s team has rolled out over 574 individual improvements to the platform and joined forces with 6 new integration partners to make the platform even more powerful for our customers. We know the freight industry faces unique challenges, so every enhancement we’ve made is designed to save time, cut down on manual tasks, and put brokers in control of their finances.
So what does Denim’s impact look like on the ground? Here’s how Denim is making a difference for brokers and carriers every day:
Faster payments: Denim customers see payments come in faster, with an average Days Sales Outstanding (DSO) of 30 days—10 days quicker than the industry average. That’s money they can reinvest in their businesses right away.
Extra revenue from QuickPay: Denim’s QuickPay feature has always been free to use, and now it’s even more powerful. Customers can now import carrier QuickPay preferences directly from vetting programs like MCP and Highway, making it simple to set up and manage fee programs tailored to their needs. Since its launch just a few months ago, QuickPay has already helped Denim customers generate an additional $75,000 in revenue.
Growing while the industry shrinks: Despite the worst freight recession in history, Denim’s customers have seen a 65% volume increase in the last year. We’re helping our customers stay strong and competitive regardless of market conditions.
Beyond the numbers, Denim has become a trusted partner in building stronger connections within the logistics community. Our platform equips brokers with the tools to pay carriers on time, a crucial factor in maintaining positive, long-term relationships. For fleets, Denim simplifies and streamlines back-office processes—handling invoicing, payment tracking, and paperwork—so they can dedicate more energy to what truly drives growth: building strong relationships with shippers. By reducing the day-to-day administrative burden, Denim allows brokers and fleets to focus on service quality and expansion while we ensure cash flow remains steady and operations run smoothly.
This $1 billion milestone is only the beginning. Our vision for the future is to create a more connected, efficient freight industry where financial operations don’t hold brokers back but push them forward. With more tools and integrations on the way, we’re excited to keep empowering brokers and carriers to thrive.
“Reaching this milestone shows just how much of a difference we’re making for our customers. Our mission is simple: help brokers and carriers succeed, no matter the market. And we’re just getting started,” said Bharath Krishnamoorthy, Denim CEO.
With an eye on the future, we will keep driving innovation to help the freight industry succeed, one milestone at a time.
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Freight brokers now have access to faster payments with Express Factoring, Denim’s latest service providing near-instant cash flow. Advances are in your bank account within minutes* of job submission, removing the hassle of traditional cut-off times or ACH windows. Whether you or your contractors need quick access to funds, Express Factoring ensures immediate payment processing, any time of day.
Sometimes, waiting for payments isn’t an option. Express Factoring gives brokers and fleets more flexibility and control over their finances while helping them build stronger relationships with carriers. By offering even faster service than your standard QuickPay options, you can stand out to top-tier carriers and position yourself as a preferred partner. Additionally, Express Factoring opens up opportunities to monetize quicker payments, allowing brokers to provide same-day or next-day cash flow as a premium service.
Getting started with Express Factoring is simple. Clients can set their advances to default to Express Factoring or manage contractor payment settings in Denim. Once approved, payments are transferred within minutes, keeping your cash flow in sync with your operational needs.
“Our goal with Express Factoring is to give brokers more control over their cash flow, because timing is everything. Freight brokers and carriers need flexibility in today’s fast-paced market, and this feature offers just that,” says Bharath Krishnamoorthy, CEO and Co-Founder of Denim. “It’s another step in Denim’s mission to help businesses thrive by getting paid faster.”
Express Factoring is now available to eligible clients. If you’d like to learn more or see if it’s the right fit for your operations, contact our team for more details.
*Subject to destination bank limitations and account restrictions.
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The freight industry is no stranger to unpredictability. Even though some experts expected the market to rebound as we entered 2024, we’re instead seeing that volatility may be the new normal. The saying that “the only constant is change” holds true, especially for freight brokers and fleet owners.
Because of this volatility, financial flexibility is more important than ever. Without keeping your capital flexible, even the most efficient fleets or brokerages may struggle to keep up with the competition. The ability to adapt, optimize cash flow, and reduce costs is the key to survival in this dynamic environment.
Through our suite of flexible freight factoring solutions — including Selective Factoring, Flex Factoring, Express Factoring, and QuickPay — we offer freight brokers and fleets the tools they need to maintain control over their finances so they can respond quickly to changing conditions. Even if you haven’t considered factoring in the past, now might be the time.
Let’s look at the factoring solutions we provide in more detail.
Selective Factoring allows freight brokers and fleets to choose which loads they want to factor, giving them the flexibility to manage cash flow on their own terms.
Unlike traditional freight factoring, where businesses are often forced to factor every load, Denim’s Selective Factoring provides the freedom to decide which loads to factor depending on what makes the most sense for your business.
For example, a freight broker might choose to factor high-value or slow-paying loads to ensure immediate cash flow while managing the rest independently. This not only helps optimize cash flow but also enables brokerages to maintain independence and control over their financial strategy.
The key benefit of Selective Factoring is its versatility. Brokers and fleets can use capital when they need it, without the pressure to factor every transaction. This balance of predictability and flexibility helps businesses stay agile, even in the face of market fluctuations.
Denim’s Flexible Factoring goes far beyond just providing capital—it allows businesses to save significant money with the combination of adjusting payment schedules and shippers who pay fast.
By choosing when to pay contractors or when to receive payments, brokers and fleets can benefit from discounted fees. The longer payments are delayed, the lower the fee, meaning costs can be reduced without sacrificing operational efficiency.
Flexible Factoring is especially beneficial for companies that work with shippers who consistently pay faster than 30 days. With Flexible Factoring, the faster the payment is received, the lower the fee, allowing companies to save even more money while maintaining cash flow.
For example, a broker may delay an advance to a contractor for a few days, choosing to lower their fees by strategically managing their cash flow. In addition, they might have shippers who pay earlier than expected, further reducing costs. Flexible Factoring provides unmatched flexibility, helping businesses optimize their capital use while reducing fees.
Sometimes, waiting for payments isn’t an option. Freight brokers and fleet owners often face immediate expenses, such as fuel costs, payroll, and maintenance, that need to be covered quickly.
Denim’s Express Factoring addresses this by providing access to funds within minutes of submitting a job. Unlike other freight broker factoring services that may have cut-off times or delays due to bank processing, Express Factoring provides near immediate funding.
Maybe a broker needs to cover urgent operational expenses but is waiting for payment. With Express Factoring, they can submit their job and receive an advance almost instantly, without worrying about ACH windows or other delays.
This immediate access to capital can be a game-changer for brokerages facing tight deadlines or unexpected costs, ensuring that cash flow is never an obstacle when keeping their business running.
Denim’s QuickPay service offers freight brokers a unique opportunity not only to expedite payments to carriers, but also generate additional income. QuickPay allows brokers to charge a fee for speeding up payments to carriers, and best of all, they can keep 100% of the fee.
Implementing QuickPay creates a new revenue stream for brokers while providing carriers with the benefit of faster payments. A broker can charge a QuickPay fee to expedite a carrier’s payment, and the fee collected becomes an additional source of income for the broker. In a competitive market, QuickPay can help position brokers as a reliable partner who can provide timely payments when needed. This also helps strengthen carrier relationships.
By offering faster payment options to carriers, brokers can increase their earnings while providing a valuable service to their partners, strengthening relationships and driving long-term business success.
Denim’s flexible freight factoring solutions for trucking companies are designed with one goal in mind: to help freight brokers and fleet owners thrive in a constantly changing market. Each solution—Selective Factoring, Flex Factoring, Express Factoring, and QuickPay—offers factoring benefits that can be tailored to fit the unique needs of your business. Whether you need immediate capital, want to reduce costs, or are looking to create new revenue streams, Denim provides the tools to make it happen.
In today’s unpredictable market, financial flexibility is not just an advantage—it’s a necessity. Discover how Denim’s flexible factoring solutions can support your business by scheduling a demo today. We’ll help you build a financial strategy that keeps you competitive, agile, and thriving, no matter the market conditions.
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Most freight brokers don’t realize how much of an impact their back-office can have on their growth. Brokers frequently associate growth with front-end activities like sales, finding new customers and carriers, and other business development tasks. But as your brokerage grows, your business is more likely to run into back-office bottlenecks from delays in invoicing, payments, processing paperwork, and more.
These bottlenecks can lead to stagnating growth, even when sales are better than ever. If your back office can’t process the volume your team is selling, it’s almost impossible to grow.
As your business grows, you’re left with two options to solve this problem: invest in hiring the staff required to cover your new volume, or leverage tools and vendors to support your existing team.
Hiring new team members can be costly, risky, and time-consuming - which is why we recommend exploring back-office automation tools before committing to expanding your staff.
Some services provide complete back-office solutions for brokers — including everything from submitting jobs, providing comprehensive dashboards, TMS integrations, carrier portals, automated invoicing and collections, payment processing, and more. Other solutions in the industry might only offer one or two of these features, and are far from comprehensive.
Below we’ll compare how Denim’s flexible factoring and back-office automation tools can offer a complete system for most brokers, and why we think Denim is the best solution for brokers who want to grow without adding more back-office staff.
Submitting jobs is the first step in getting a load factored. Most factoring companies require a BoL (bill of lading), PoD (proof of delivery), and rate confirmations to purchase (factor) your invoices. How this works varies from company to company, here’s how Denim’s solutions stack up:
Denim’s solution:
Submitting a job with Denim is simple and fast - so fast you can do it in under 30 seconds. Jobs can be uploaded through Denim’s online or portal or directly through a TMS integration at your earliest convenience.
When uploaded through Denim’s portal, the intuitive interface makes it easy to find exactly what you need when you need it. Information icons are there to walk you and your team through the process. Presets and commonly used companies remove any redundant data entry, so you can focus on booking more loads.
Key benefits:
Traditional factoring companies:
Submitting jobs to traditional factoring companies can be a time-consuming and error prone process. There are two main routes taken: CSV upload or email.
The average factoring company has a dashboard to upload CSV files with load details and separate PDF documentation with BoLs, PoDs, and rate confirmations. Batching loads like these can take dozens of hours and lead to errors when a load data is different in the csv than the pdf document.
Alternatively, some factoring companies require you to email this information. This often results in several back-and-forth emails to correct mistakes and verify information.
Some factoring companies have TMS integrations, but they are often delayed updates, meaning updates are only displayed 1-2 times per day.
One important feature that isn’t always available for factoring clients is a comprehensive client dashboard that gives real-time metrics and data so brokers can make informed decisions on the fly. Here’s how Denim’s client dashboard stacks up against more traditional solutions:
Denim’s Dashboard:
With the Denim dashboard, brokers get a bird's eye view of the most important financial metrics. They can instantly gain insights into stats like jobs over time (with predictive month-over-month analytics), Days Sales Outstanding (DSO), total amount factored, fastest and slowest paying customers, and most profitable customers - all at a glance.
Custom roles and permissions with Denim for Teams lets brokers set custom roles and permissions for the whole team, giving the exact data points every team member needs. This protects sensitive business information and gives more control to owners.
Custom reports can also be requested on demand by team members so they can find important information fast.
Key benefits:
Traditional factoring companies:
Traditional factoring companies have limited or non-existent dashboards. Many require brokers to request specific data or metrics through email, leading to slow response times and confusing email chains with potentially unreliable customer support teams.
When traditional factoring companies do provide dashboards, they often do so through “view-only” portals which only offer basic transaction reporting and payment statuses. These dashboards often require employees to share passwords, and offer limited if any control over which team members can view sensitive information.
Brokers need more than just working capital to run their business - they need modern tools that improve efficiency and their bottom line. Here’s what Denim and other factoring companies offer:
Denim’s Document Management:
Denim's Audit, Document Collection and Inbox features give brokers an easy way to collect and audit documents automatically, saving countless hours for back-office staff. Both tools are included for all factoring clients, and provide automatic document auditing that helps identify errors before you hit submit. This alone vastly improves the time it takes to submit new jobs.
The Denim Document Collection & Inbox organizes all PoDs, BOLs, and Rate Confirmations in a simple easy-to-use inbox, and automatically attaches the correct documents to every job - finally ending the constant searching through your inbox and PDF merges for document submissions.
Key benefits:
Traditional factoring companies:
Traditional factoring companies provide little in the way of client tools, and are primarily focused on providing working capital to brokers. Factors that do provide these tools often do so at an additional cost for brokers.
Effective carrier communication is critical for brokers, both to keep customers informed and to reduce unnecessary back and forth between your team and carriers. Here’s how Denim helps brokers keep carriers informed while saving staff time:
Denim’s carrier portal:
Denim’s Carrier Portal gives carriers an easy way to stay informed at every step of the process, and is available for all factoring customers. This helps cut down on calls from carriers asking about payments, giving them real-time updates on payment status. Automated emails are sent to carriers when payments are complete, saving your staff time.
Key benefits:
Traditional factoring companies:
Traditional factoring companies provide little or no outbound communication to carriers on behalf of brokers. The broker is responsible for all communication with carriers about payment, leading to excess calls and frustrated staff and carriers.
Some factors will send out update emails when payments are completed, but it’s up to the broker to send any other communication.
Efficient invoicing and collections are vital for maintaining healthy cash flow. Denim’s back-office automation tools give brokers new advantages in these areas too:
Denim’s process:
Denim’s automation tools make it easy for brokers to create and distribute invoices for shippers in minutes, instead of hours. As soon as rate confirmations and PODs are received, your client can be invoiced. No more waiting for carriers to send invoices, letting the aging clock start sooner.
Denim also automatically alerts brokers of aging invoices, and follows up with shippers and brokers to prevent slow payments. Brokers can work directly with Denim to collect on invoices before using more drastic measures like chargebacks.
Key benefits:
Traditional industry processes:
Most traditional factoring companies don’t generate invoices for brokers automatically, and opt to send generic emails instead. These emails are often impossible to customize and confuse shippers without specific company logos or identification.
Many traditional factoring companies also have very limited communication and lack comprehensive escalation processes. They frequently send one or two email reminders, and then charge a chargeback, causing issues with customers.
This lack of a collection process hurts customer relationships and costs brokers business.
Managing payments is an essential part of every brokerage, and doing it well is critical to the broker-carrier relationship. Denim provides improved processes over other providers in the space:
Denim’s payments:
Denim makes payments to carriers for you automatically, and gives brokers control over every aspect. Brokers choose how carriers are paid (e.g. ACH, check, QuickPay, and more) with no additional fees.
Denim also takes care of all the collection and storage of payment information on your behalf, so you never have to worry about storing sensitive personal carrier data on your system.
Key benefits:
Traditional factoring companies:
Most traditional factoring companies don’t automate payments to carriers. Brokers are responsible for paying out carriers, requiring them to use additional back-office resources.
This can frequently lead to delayed or late payments, and unhappy carriers as a result.
Many traditional factoring companies also charge excess fees for common services like QuickPay or ACH transfers. The fees vary from factoring company to factoring company, but often must either be absorbed by the broker or passed along to carriers who desire QuickPay. These fees can range from 1-3% of the load, which can quickly eat into the profitability of your brokerage.
Brokers depend on cash flow and efficiency to grow their business. Without a suite of back-office tools to support your operation, you may find yourself paying excess fees, stuck manually invoicing shippers and paying carriers, processing paperwork, chasing down important metrics, manually compiling PDFs for job submissions, and more.
With Denim’s suite of back-office tools, your brokerage will be ahead of the curve with more efficient processes, streamlined communications, and fewer fees. Denim’s all-in-one platform is designed to meet the needs of brokers of any size, and sets a new standard for the factoring industry.
If you’re ready to find out how Denim can streamline your business, cut down on fees, improve your cash flow, and help your brokerage grow - get in touch with our team today. We’ll walk you through every step of the process and give you the tools you need to maximize your cash flow and streamline operations almost overnight.
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As the end of the year comes to a close, growth is on almost every brokerage’s mind. But, growing sustainably means working with the right shippers that you can build rapport and long-term relationships with. By choosing the right shippers for your brokerage from the beginning, you can set yourself up for growth in 2025 and beyond.
Let’s look at some questions to ask to ensure the shippers you work with are the right ones for your business. Working with the right customers is the key to successful freight broker sales.
Before we dive into the questions to ask your shippers to qualify them, we first need to talk about the importance of good prospecting from the beginning.
Freight broker prospecting is a lot like digging for gold. Before you start digging a 12-foot hole, you want to be sure there’s gold at the end. As a broker, your biggest asset is time. By doing your research ahead of time, you ensure that your time isn’t wasted and that the shipper you’re potentially going to work with is a good fit for your business.
Research Their Business
Before getting on a freight broker sales call with a shipper, take the time to research their business. This includes their industry, business size, geographic locations, any recent news, and freight types. You can also estimate their current shipping volume based on public data, testimonials, or industry standards.
Identify Key Contacts
To make the most of your calls, make sure you’re talking to key decision-makers at the company. Tools like LinkedIn can help you identify these key contacts.
Leverage Existing Relationships
In addition to knowing the key contacts, research if you have any mutual connections. These mutual connections can help bridge the gap between the first freight broker sales call and building rapport.
Go the Extra Mile
As Chris Brewer, CEO of River City Logistics says, “the battle is won before the phone call.” This means preparing as much as possible so you know who you’re talking to and what their needs are. He suggests going the extra mile and researching if you have any other things in common. This like mutual hobbies might seem superficial, but they can go a long way in building a connection with a prospect.
Okay, so you’ve done your research and know that the shipper you’re talking to is worth a discovery call. Let’s go over the types of questions to ask as you qualify shippers as part of your freight broker sales process.
Qualifying questions help you assess whether a shipper is a good fit for your services. Here are some categories of qualifying questions to start with:
Past Experience With Brokers
A great freight broker prospecting question to ask potential new customers is whether or not they’ve worked with a brokerage before. This will give you a good understanding of what to expect and may give you insight into their past experience and how working with your brokerage might compare.
Seasonal Volumes
Asking volume-related questions is an important way to qualify shippers. While some shippers might be hesitant to answer specific questions like “how much are you shipping this week?”, they may be more open to general questions about past loads. For example, try asking things like “what volumes were you averaging last fall? What about last summer? Were those volumes more or less than expected?”
By keeping volume-related questions conversational and focused on past experiences, you can get a good gauge on how much business this shipper might bring your brokerage.
Load Type
Of course, you need to make sure that the load type matches your brokerage. Ask questions about whether they require any special equipment for their loads, if they do full truckload shipping or LTL, and any other load-specific questions you need to know.
Next, ask the shipper about their specific business. Remember, the purpose of the discovery call in your freight broker sales process is to get as much information as possible to see if they’re a good fit for your brokerage.
These business-related questions will depend on the specific shipper but might include things like “how has your year been?”, “how is your industry doing?”, or “are you expecting any big orders this year?” Try to keep it positive and encourage the shipper to share their successes.
Lastly, you should qualify your shippers by asking operational questions so you fully understand their business and needs. These freight broker sales questions can cover everything from their internal organization structure to their weekly truckload shipments. Here are some operational questions to help get you started:
These operational questions just scratch the surface of everything you can ask about a shipper’s operations so let the conversation guide your information-gathering. Remember, you’re interviewing your shipper to see if they’re a good fit for your business as much as they’re interviewing you to see if they want to work with you.
Even the most successful shippers likely have something they would change about their business. But, rather than focus on the negative, consider asking the Magic Wand question: “if you had a magic wand and could change anything about your business, what would it be?” This is a fun and positive way to discuss potential challenges and pain points. It will also give you insight on what you can help improve as the shipper’s freight brokerage.
2025 is right around the corner, which means now’s the time to set your brokerage up for success to start the new year strong. One powerful end-of-year goal is to focus on attracting high-quality shippers to increase your freight broker sales. By doing your research and qualifying your prospects by asking the right questions, you can foster trust and secure partnerships with the right shippers.
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QuickPay is a valuable tool for freight brokers, offering carriers the benefit of faster payments, typically within 24-48 hours instead of the usual 21-30 business days. Beyond improving cash flow for carriers, QuickPay can serve as a strategic advantage for brokers. Carrier QuickPay can help brokers attract top-tier carriers, improve retention, and even add a new revenue stream.
However, implementing QuickPay requires careful planning and communication to maximize its benefits and minimize risks.
In this blog, we will cover best practices for managing a QuickPay program, including how to navigate fraud and leverage the right tools to make your program a success (and profitable).
One of the key challenges brokers face is distinguishing between legitimate QuickPay requests from trusted carriers and those from fraudsters or double brokers attempting to get paid before being caught. QuickPay fraud can pose significant risks, including financial losses and damage to your reputation.
Best Practices for Vetting Carriers:
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Transportation Management Systems (TMS) are at the heart of every freight broker’s tech stack. They help brokers streamline their operations, improve efficiency, and grow their brokerage.
But, not all TMS platforms are created equal. Some are made for specific freight sectors, while some offer a broader feature set for brokers who need to do it all. But with so many TMS options out there, there’s sure to be one that fits every broker’s needs. Say goodbye to manual spreadsheets and outdated systems and hello to a TMS transportation software that will help you scale.
Here, we break down some of the best TMS software for brokers, including their key features and the types of brokerages they best serve.
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Scaling your fleet trucking business is no easy feat, especially if you want to scale sustainability (as you should). We’ve seen too many horror stories about fleets that grew too quickly and then went out of business, such as Surge and Convoy.
But, cautionary tales aside, there are a lot of growth opportunities for fleets and it all comes down to proper truck fleet management. We may not be seeing a complete market upturn yet, but there are plenty of signs that things are on the upswing for fleets. Sustainable growth is possible.
Let’s look at ways to manage your truck fleet and scale sustainably through smart cash flow strategies, efficient operations, and a productive team of employees and drivers.
When it comes to scaling your fleet trucking business, accurate financial planning is key. A few things to consider when approaching financial planning for your fleet is your budget, financing, and cash flow.
One of the first things to do when planning to scale your fleet sustainably is create a growth budget that takes into account all of your costs.
These costs could include acquiring new trucks (including their purchase prices, leasing options, and maintenance requirements and expenses), increased insurance coverage, and hiring and training new drivers. You may also budget for upgraded technology, such as a fleet management software to make your operations more efficient as you grow.
The next step when thinking about scaling your fleet is to consider financing. There are lots of options available to fleet owners, including loans, factoring, and lines of credit.
Loans
Loans provide a lump sum of funding, but they require regular payments, which might impact your cash flow as you scale.
Factoring
When you factor invoices, you sell your invoices to a fleet factoring company to improve your immediate cash flow. Factoring rates differ based on your needs and while factoring may impact your overall revenue, the fees are often a small price to pay for the flexibility it affords fleets.
Lines of Credit
Lines of credit offer flexibility because you can spend more cash now, but they come with variable interest, often as high as 14% for newer fleets.
Weighing freight factoring vs a line of credit is a common consideration for fleet owners as they both provide access to cash flow, but when looking at the pros and cons of each, factoring is often a better choice for fleets to avoid variable interest rates, tighter credit conditions, and higher borrowing costs.
Lastly, you will need a way to manage cash flow as you grow to avoid financial strain. Your detailed budget and financing will help with managing cash flow, but you will still need to look at the data to accurately project your revenue and expenses.
To avoid any future financial hiccups, make sure to account for potential fluctuations in things like fuel costs, maintenance, and driver wages. Monitor your cash flow closely to ensure that as you grow, you aren’t jeopardizing your ongoing operations. Some fleet owners may even consider setting aside a reserve fund for any unexpected costs.
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2024 has brought a mix of challenges and opportunities for trucking companies across the nation. From economic uncertainty to rising fuel costs to cautious optimism in the coming months, there’s a lot to think about as a fleet owner or broker.
The end of the year is right around the corner and there’s no better way to end 2024 than by setting some powerful short term goals to carry you through Q4. Here, we share some short term goals you could consider for your trucking company and provide some actionable steps to progress towards them. Here’s to a great end-of-year rally!
The goal: Conduct a pricing review to ensure alignment with market trends and close Q4 with improved margins.
A great end-of-year goal to set your sights on is to optimize your freight pricing to maximize revenue. We’ve seen freight pricing trends go up and down and just recently, some companies have even secured rate increases. For example, XPO negotiated an 8% rate increase from a year ago and ArcBest finished Q2 with a 5.1% increase in rates. With this in mind, optimizing your freight pricing strategy should be a top priority for the rest of the year.
But optimizing freight pricing is easier said than done, right? Start by conducting a comprehensive review of your current pricing strategies to ensure that they align with current market conditions. Then, look at where you can renegotiate contracts or shift your focus to higher paying lanes.
Another option is to implement dynamic pricing models, especially as we approach the busy holiday season. Dynamic pricing models allow you to create freight pricing that adjusts as the market changes.
Actionable steps
The goal: Reduce Days Sales Outstanding by 10-15 days by streamlining invoicing processes and conducting a comprehensive financial review by end of Q4.
Effective cash flow management is essential for any successful trucking company, especially at year-end when costs can rise, and cash can become tight. To set your business up for success in 2025, conduct a thorough end-of-year financial review focusing on cash flow, outstanding receivables, and areas for improvement. Proper financial planning for brokers and fleet managers is crucial to sustain growth and maintain financial stability.
During your review, identify opportunities to reduce the time it takes to get paid. This may involve tightening up invoicing processes, implementing quick-pay discounts, or leveraging technology to send accurate invoices promptly. If your review indicates that reducing DSO could significantly improve liquidity, consider partnering with a factoring service to get paid on invoices immediately.
At Denim, we offer a number of benefits outside of just factoring. Our solutions include customized financial reports, transparent pricing with no hidden fees, and dedicated support to help you understand and enhance your company’s financial health.
Actionable steps:
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