So, is your freight or trucking business on the lookout for a factoring service? Someone, who with factor your invoices or freight notes? Well, if you are, we understand how tough it can be. There are so many things that you need to consider and all of that can lead to confusion. However, there’s nothing to worry about now.
We’ve made the task a little easier for you by listing out all the important aspects that you should be looking at when selecting a reliable factoring service provider. If your factoring provider meets all these requirements, you can be fairly sure that they’re worth your time and money.
Tenure of business
Has the factoring company been in the business for long and have they specifically been serving trucking businesses? Well, if they’ve been around for a while, you can be sure that they’re good at what they do. Businesses last long because customers trust them.
It’s quite the opposite if a business fails to deliver.
There are exceptions to this rule. However, it’s safer if you work with someone who has been in service for at least half a decade.
Are they genuinely experienced in working with the trucking and freight industry? This is another question you need to ask. There are plenty of factoring companies that claim to be specialists in your industry. However, in actuality, a good number of them are inexperienced. You don’t want to deal with an inexperienced firm.
So, find out if they’re telling the truth. All you have to do is quiz them on a few industry basics.
The human touch
In a competitive business landscape, you need a partner, not a service provider. So, look for a factoring provider who is willing to give you special attention by providing you with a dedicated personal account manager. This manager should be able to respond to most, if not all of your requirements.