How a 24/7 Dispatch Service Can Help Open Up Your Cash Flow

You've no doubt heard that it takes money to make money and that's absolutely true, especially in the trucking industry. It's difficult to overcome industry issues like slow paying customers, slim profit margins, and high operating expenses. One way that small and medium-sized carriers are improving their cash flow is by hiring a 24/7 dispatch service.

How Can a Dispatch Service Improve My Cash Flow?

One of the biggest advantages of hiring a third-party dispatch service is that you'll have better control of your company's outgoing and incoming funds. That may seem odd, especially since a dispatch service is an expense, but it's actually a wise move. Some ways you'll benefit include:

  • Reduced Credit Risks — Every new customer you acquire is a potential risk. A dispatch company can improve your client base and help you avoid slow-pay to no-pay customers.
  • Faster Invoice Payments — When you partner with a dispatch company, following up with customers and collecting invoice payments is faster and easier.
  • Freight Factoring — Instead of waiting 60 to 90 days for customers to clear their invoices, freight factoring allows you to convert those invoices to immediate cash you can use to grow your business.
  • Lower Operating Costs — You can increase your trucking company's business and improve profitability by outsourcing the dispatching, which reduces in-house expenses and frees up your cash.

Improve Your Cash Flow Today

It's not easy to succeed in today's competitive trucking industry and cash flow issues can bring your company to its knees. Companies that are able to manage their cash flow are much more capable of taking advantage of investment and growth opportunities. Want to learn more about how to improve your cash flow and gain the competitive edge? Contact us at 24/7 Dispatch, and we'll explain how our services can help your company become a lean, mean, profit making machine.