BOISE, Idaho — Heading into the Mid-America Trucking Show (MATS), Truckstop conducted an online survey of more than 350 carriers to gain insight into the evolving landscape of freight factoring.
“Carriers are constantly navigating financial pressures, from unpredictable market conditions to managing day-to-day cash flow,” said Kendra Tucker, chief executive officer, Truckstop. “Our Truckstop solutions are designed to help carriers operate efficiently and with confidence, ensuring they have the financial flexibility to keep their businesses moving.”
Crucial Financial Tool
The survey revealed that factoring remains a crucial financial tool for carriers, with nearly 80% of those who factor planning to factor the same or more loads this year.
In comparison to last year, 38% of factoring customers plan to factor more loads, underscoring a growing reliance on factoring to maintain cash flow. The survey also highlighted that speed of payment and trustworthiness of a factoring provider are the most important considerations in a carrier’s decision to factor. Additionally, protection against non-payment and lower fees emerged as the top reasons carriers would consider switching providers.
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
