TAFS

Faster invoice payments are the fuel of the trucking industry. It is an industry with high operational expenses where slow-paying customers often limit the carriers’ ability to maintain consistent cash flow, stunting their growth. The trucking industry’s cyclical nature makes it particularly vulnerable to economic slowdowns when fuel prices and other operating costs rise. This is where TAFS, a full-service invoice factoring company focused on the trucking sector, comes into play.

TAFS offers a gamut of solutions that extend beyond freight factoring to help trucking companies prosper throughout the ebb and flow of their business. One of the fastest in getting funds to a carrier, TAFS helps small and medium-sized transportation companies or owner-operators avoid long freight payment cycles with same-day funding. It is one of the few factoring companies available year-round with 1-Hour, Weekend, and Holiday Advance funding options, managing everything from invoice submission to getting funds into the carrier’s hands.

“TAFS ensures that trucking companies can get their funds 365 days a year,” says Rob McCutcheon, Vice President of Strategy and Growth at TAFS.

It helps carriers address another critical challenge—the high-cost variability of fuel. TAFS provides a fuel card to which it instantly sends funds when a carrier avails its 1-Hour funding service. Carriers can swipe the card and receive major discounts at nearly 2,000 diesel fuel pumps, from large stops to mom-and-pop shops that are tied in with TAFS’ fuel network. It helps carriers profit from some of the most competitive rates in the industry.

Although factoring solves one part of the problem for trucking companies, finding reliable customers that pay on time is another challenge. They need the ability to verify if customers will pay for their services on time. TAFS’ credit check system screens thousands of brokers and debtors, checking whether they pay their carriers on time and if they offer fair rates across the industry.

Its presence as a large factoring company gives TAFS the added advantage of acquiring more comprehensive data on carriers’ customers. The credit check system gives carriers peace of mind, allowing them to know some of the pitfalls that can occur if they carry for the wrong customer.

TAFS offers a host of different solutions across the board to help carriers work at the best possible prices, including tire discounts and maintenance discounts. It assists carriers with loans if they are in need of funds for business expansion or during any unexpected financial setbacks. In addition, it provides new carriers with valuable guidance on starting their own trucking services with articles and videos from experts in the industry.

TAFS’ partnership with top companies that service the trucking industry allows it to operate as a one-stop source for trucking companies. Among its associated partners is a company specializing in dispatching that finds high-profit freight for TAFS’ carriers, at an additional fee. It books freight and helps negotiate favorable paying loads for carriers, particularly industry entrants that are prone to be exploited by brokers. ProDispatch, one of the leading freight dispatch specialists, helps carriers find well-paying freight and negotiate profitable loads.

TAFS prides itself on its ability to continually build on its technologies to offer the smoothest experience for its carriers. It provides complete transparency through its client portal and mobile application, which are backed by the latest technologies. Carriers can view their account as a whole, including collection attempts and verifications, or check for invoice issues.

When it comes to top-notch freight factoring and a whole spectrum of other trucking industry needs, carriers can rely on TAFS for solutions beyond freight factoring.