Cashflow Corner presented by TriumphPay …During a period of crisis in their lives, truck drivers often have nowhere to turn. But, there are several charities available to assist during these emotional times.
FreightWaves’ coverage of Distributed 2018, a leading enterprise blockchain conference, continues.
There’s a side of the trucking industry most don’t see. Look behind the hardened exterior and you’ll find a community of people dedicated to both their profession and their community. Read the Full Article
The current freight marketplace makes one thing clear, America needs more trucking companies. Capacity is at historic lows and rates are skyrocketing nationwide. Read the Full Blog Post
In partnership with Reliance Partners …With autonomous vehicles virtually at our doorstep, it is becoming mission critical for carriers and drivers to protect themselves. Points of vulnerability will be exploited by those who seek to cause harm, economically or otherwise.
Techpertise together with TMW Systems …We’ve known for years that public blockchains needed a second layer for throughput and privacy, but only now are solutions for the largest networks being built out and tested.
Cashflow Corner presented by TriumphPay …When owner-operators and small fleets make the decision to expand their businesses by adding trucks and people, they often turn to the online payroll systems to pay them.
Some companies think they have it tough when setting up and orchestrating the delivery networks that shuttle their products from point of origin to end customer, but J.R. Butler faces some especially high hurdles. Read the Full Blog Post
Sponsored by Reliance Partners…Other than the economy slowing and unemployment rising, is there a solution to the driver problem?
From the first DOT week with ELDs to unprecedented load-to-truck ratios in California to the start of the summer season, the past few weeks have been overwhelming for many shippers. Companies are paying more than ever to move their products and carriers are failing on loads or rejecting primary freight, leading to a very hot […]
Cashflow Corner presented by TriumphPay …Weigh station bypass systems are an often-overlooked way for drivers to save both time and money.
In June 2018 Convoy surveyed over 300 small and mid-sized trucking companies across the United States to collect a snapshot of the industry. Survey participants include dispatchers and owner-operators. All the results are self-reported by the participants. Read the Full Blog Post
Cashflow Corner presented by TriumphPay …Drivers can potentially benefit from added flexibility by utilizing the current split sleeper provision allowed under hours-of-service laws.
Techpertise together with TMW Systems …A shortage of maintenance technicians is making unplanned downtime more costly than ever. We talked to Renaldo Adler from TMW to find out how predictive maintenance can cut roadside breakdowns by 70%.
Sponsored by Reliance Partners…On the heels of the U.S. Department of Transportation’s announcement regarding the Solving for Safety Visualization Challenge, FreightWaves spoke with Reliance Partners’ John Seidl to learn more about risk management in the industry.
Cashflow Corner presented by TriumphPay …Market conditions might make the timing right for truckers set a more fuel-efficient vehicle speed.
Sponsored by Reliance Partners…There are a lot of reasons why it’s hard for owner-operators to get the best deal possible on their truck insurance. Owner-operators are busy.
Cashflow Corner presented by TriumphPay …For some owner-operators, Obamacare provided a path to insurance coverage. For others, the mandate was government overreach. This is starting to change, but what is not is the increasing costs of health care.
Techpertise together with TMW Systems …We explore blockchain’s scalability challenges and some recent techniques that attempt to solve the problem, along with the tradeoffs involved.
Sponsored by Reliance Partners…One of his specific points of focus for improving driving retention has to do with compensation packages. Compensation packages have become more sophisticated in recent years, but there is room for improvement.
Cashflow Corner presented by TriumphPay …Starting your own trucking company takes time and planning, but it takes more than just buying a truck and choosing a load.
The health and wellness of professional truck drivers is an increasing concern. This issue was ranked as the 8th most important in the industry by contributors to the American Transportation Research Institute. Read the Full Blog Post
On June 7th, the highest odds for a truck being in a collision will occur between 4 pm and 7 pm and between 9 pm and midnight, accounting for 21% and 19% of the day’s accidents, respectively, almost twice what would be expected if accidents occurred at random times.
Cashflow Corner presented by TriumphPay …Unless you are one of the many drivers who have proclaimed the next three days as vacation days, there is a good chance you will run into an inspection somewhere. If so, will you be prepared?
Techpertise together with TMW Systems …3Gtms, an emerging next-generation provider of transportation management software, is partnering with 10-4 Systems, a Trimble company, to enhance its platform with cutting edge visibility and analytics solutions.
Sponsored by Reliance Partners…FreightWaves visited the Reliance office in downtown Chattanooga this week to speak with COO and president, Chad Eichelberger and Laura Anne Howell and get a sense of what makes the secret sauce so special.
This article, featured in Startup City magazine, shares how Carggo is using digitization to advance the freight industry.
Everyone sees the market as strong and staying that way, but are there other headwinds in the trucking sector?
Cashflow Corner presented by TriumphPay …If your ELD provider suddenly shuts down service and goes out of business, do you know what to do?
Sponsored by Reliance Partners…Depending on the limit and deductible you choose, your trailer interchange coverage should add between $100 and $1500 a year to your overall insurance cost.
Cashflow Corner presented by TriumphPay …If you’ve fueled up your truck recently, you know that the cost is climbing. Fortunately, there are some driver behaviors that can be changed to minimize fuel usage.
Sponsored by Reliance Partners…Regardless of whether the accident was the driver’s fault, documentation helps support the ease and efficiency of the process. The point is, document first, ask questions later.
The Freight Movement is in partnership with Arrive Logistics …Moving freight to its final destination starts with the ability of a shipper or broker to find available capacity. That load tendering process is rapidly changing.
Cashflow Corner presented by TriumphPay …One of the most costly tasks for small companies is chasing down accounts for payment, which is why many smaller fleets and owner-operators turn to factoring companies.
FreightWaves has covered Convoy’s Series B funding, as well as their potentially game-changing play to offer “automatic detention pay” for drivers caught in bad shipping detention situations. But only this week Convoy revealed that members of one of the world’s all-time greatest rock bands, U2’s Bono and The Edge, quietly invested in the company last year. Read […]
Techpertise together with TMW Systems …Cooltrax provides Internet of Things devices to monitor temperature-controlled pallets, but also adds data analytics dashboards and insightful KPIs to bring value back to shippers’ logistics operations.
Convoy leverages its tech to give owner-operators the same advantages as large carriers. Read the Full Article
According to at least one analyst, Tesla may be putting its ambitious Semi project on hold as it tries to solve its many other issues, including Model 3 production.
Sponsored by Reliance Partners…Two very different approaches could give some breathing room to the tightening CDL driver shortage.
Cashflow Corner presented by TriumphPay …For truck owners, it’s become more important than ever to ensure you know where your truck is, because if you don’t, it’s going to cost you.
Brought to you by Reliance Partners…Begin the process by providing clarity and expectations first on the basics, such as driving, detention, and layover, the nuts-and-bolts of the driving job.
Cashflow Corner presented by TriumphPay …Summer is almost upon us and with that comes hot temperatures. So how can you stay cool, and just as importantly, how can you keep your truck running?
Techpertise together with TMW Systems …There are a number of reasons why throughput is a superior asset utilization metric for transportation companies.
Presented by Reliance Partners…While there are loads of ways to save on insurance costs, some aren’t as realistic as others. We’ve distilled it down to a concentrated Top 5.
Cashflow Corner presented by TriumphPay …Truck operators have a number of regulations they must meet to operate in California, including trailer and refrigeration unit mandates. Failure to do so can lead to big fines.
Techpertise together with TMW Systems …Artificial intelligence technology is rapidly maturing, and transport and logistics stands to gain the most of almost any industry. We discuss recent work analyzing AI use cases and ROI in transportation.
Presented by Reliance Partners …The jury is still out as to whether or not ELDs actually make our roads safer, but many say they’re working.
Cashflow Corner presented by TriumphPay …The interview process is just one area where companies can be tripped up by asking the wrong questions, which could potentially place them in legal jeopardy.
Presented by Reliance Partners …CAB compiles data and translates that into actionable information for insurers and underwriters to make more informed decisions on carriers.
At the keynote for the second day, the focus is on the speaker’s three-part book title: machines, crowds and platforms.
Cashflow Corner presented by TriumphPay …When a customer refuses to pay their bill, or simply delays paying it, brokers and carriers alike can be stuck with a lack of cash on hand and few options.
In partnership with Reliance Partners …It isn’t easy, it isn’t quick, but having a safety culture in your company can pay some clear dividends.
Cashflow Corner presented by TriumphPay …Large fleets are benefited for years from fuel and maintenance discounts. Now, smaller fleets and owner-operators are starting to reap some of those same benefits.
Digital freight broker Convoy staked their claim in the freight market by doing something that few have had either the ability to or desire to do before: automate detention. Read the Full Article
Presented by Reliance Partners …Cargo theft doesn’t just happen on the road, it can also happen at the warehouse. To prevent it, leading experts noted some of the approaches that scare away thieves.
Techpertise together with TMW Systems …Tim Leonard and Daniel Pickett discussed blockchain in front of an audience of trucking executives at the TCA Annual Convention in Kissimmee, Florida, this week.
Three years after launch, Convoy has gone national. And with it a new detention feature that will automatically pay drivers who are held up for more than 2 hours at a facility. Read the Full Article
Cashflow Corner presented by TriumphPay …There are several basic mistakes owner-operators tend to make and each can put their business in jeopardy.
Presented by Reliance Partners …As if insurance requirements are not confusing enough for truckers, there is additional insurance policies some truckers or carriers need that others do not. This includes intermodal insurance coverage
Cashflow Corner presented by TriumphPay …Nexus is when a trucking company owes taxes in multiple states, but many companies are not aware of when this happens because of confusing state laws.
When a 3PL is involved in moving goods, there are a number of liability areas where that 3PL could be held responsible, from the actions of the carrier to condition of the goods.
Cashflow Corner presented by TriumphPay …There is another option to acquiring good paying freight for carriers, and that is government freight.
Presented by Reliance Partners …For truly safe trucking companies, chameleon carriers are a problem. But it is one that data is helping solve.
Techpertise together with TMW Systems …TMW Systems CTO Tim Leonard discussed recent data management white papers and the future of machine learning applications for the trucking industry.
Cashflow Corner presented by TriumphPay …There is no shortage of deductions that truckers can take. You just need to know where they are.
Insurance & Risk Management presented by Reliance Partners … U.S. companies moving freight across the border need additional insurance to cover their Mexican drivers, even if it is only within the border zone
Insurance & Risk Management presented by Reliance Partners … While the number of recorded cargo thefts in 2017 declined to 649, the group said, the threat remains, and according to Scott Cornell with Traveler’s Special Investigations Group (SIG), may be underreported.
Techpertise together with TMW SystemsTechnology platforms have enabled the Dart Network to automate the bidding process, leading to a more efficient system that better utilizes company resources.
From a merchant perspective, Shipping with Amazon would provide increased competition in the shipping space, while also providing Amazon with more data about the products people are buying.
Cashflow Corner presented by TriumphPayDetention of drivers remains a significant problem in the industry, with few solutions in sight, although ELDs may be able to help smaller fleets and owner-operators enforce detention policies.
It seems so simple, but basic attention to detail can help prevent an unwanted interaction with law enforcement, which can lead to increased insurance premiums.
Cashflow Corner presented by TriumphPay You’ve taken the leap and decided to purchase your own truck. Or maybe you run a small fleet and have a handful of trucks. In either case, the next challenge is upon you: maintaining those vehicles, because if a truck isn’t running, it isn’t making any money.
Predictive maintenance is something that has been talked about for several years. The ability to identify when particular components might fail, or to proactively replace components before they fail based on past data trends has been referred to as the Holy Grail of vehicle maintenance.
Trucking companies face high insurance costs, and few are higher than new venture insurance for new carriers. Some steps can be taken to help lower that initial cost, though.
With more regional and local deliveries due to e-commerce, there is more opportunity for truck drivers to find less-than-truckload freight, but knowing how it is billed is critical to winning contracts.
As seemingly simple as the rule sounds – ensure food is safe during transport – it is anything but. The FDA’s food safety regulation, says, Sam Rizzitelli, transportation practice lead for the Americas for Allianz Global Corporate & Specialty, has opened up new concerns from an insurance impact.
Reliance Partners, a leader in transportation and logistics insurance and risk management, announced today that it joined the Blockchain in Transport Alliance (BiTA).
The demand for tech-based solutions is creating a wave of innovation in the startup world. Keep reading to learn about the top 15 companies who are leading the next era of tech disruption.
Despite all this good news, an underlying problem remains for many truckers – getting paid. There are still some shippers that are dragging their feet when it comes to settling their bills, and that leaves carriers short of cash.
In what will come as little surprise to anyone who has recently renewed their commercial insurance policies, rates are going up. The bad news is that there doesn’t appear to be an immediate end in sight, according to a new report from A.B. Best.
Manual processes may appear cheaper at first, but studies have shown that switching to automated accounting programs for account payables and receivables saves money in the long run, even for small operations.
In the last few weeks, there has been a lot of confusion in the driver community regarding the per diem, which has been eliminated for company drivers under the new Republican tax plan.
Owner-operators have unique insurance needs, and it matters whether you have your own authority or are leased to a carrier. Either way, it’s important to understand what coverage you need and find policies that fit your budget.
A lot has been spoken about how the freight industry is sluggish on the uptake with regard to adopting technology, but the truth is, the industry needs a better understanding of demographics than it does technology.
Recently, there were a couple of Facebook posts from owner-operators asking for advice on where to look for new insurance. One poster said their insurance company was dropping them because their “maintenance scores” were too high. What, they asked, did that mean?
With third-quarter GDP coming in at 3.2% growth and fourth-quarter GDP also expected to best the 3% mark, which would be the third consecutive quarter of 3%-plus growth, and a newly minted tax plan promising to start moving the economy forward, times would appear to be ripe for trucking.
The saying goes that there are only two certainties in life: death and taxes. If you’re a commercial vehicle operator, though, you can add another: rising insurance costs.
For business owners, one of the main questions surrounding the new tax law is the corporate tax rate. At 21%, it is lower than the pass-through rate for businesses, which is capped at 25%. That has some asking the obvious question: Should I change my company’s status from a pass-through corporation to a corporate structure?
With millions of commercial vehicles now running electronic logging devices (ELD), concerns have been raised about cyber attacks. That concern is leading to more interest in cyber insurance policies.
It is estimated that truck driver vacancies have reached nearly 50,000 this year and if the trend continues, it could explode to six figures in the next decade. Could immigrants fill those gaps?
The days of drivers carrying around multiple credit cards to handle life on the road are quickly disappearing. Once, drivers might have a company credit card for expenses, a fuel card to pay for fuel, and even their own card for non-job-related expenses, but that is all changing as innovations in fuel cards might be making the company credit card obsolete.
While more and more fleets are utilizing thousands of data points to make operational decisions, insurance providers are tapping into those same data points to help create more accurate risk profiles of carriers and their drivers to build improved insurance offerings for those fleets. And at a lower cost in some instances.
The increasing use of mobile technology has spawned a new industry that many in trucking – from drivers to fleets – can take advantage of: peer-to-peer (P2P) payments.
A few years ago, cameras in trucks were viewed negatively by nearly everyone. That has started changing as more providers perfected the systems and word started getting out on how a camera could save a fleet from a million-dollar lawsuit, not to mention reducing risky driving behaviors.
When you run a trucking business that has weekly and daily bills such as salaries and fuel, but shippers pay at 30, 60 or even 90 days, ensuring you have the proper cash flow to maintain operations can be tricky. That’s why many owner-operators and smaller fleets have turned to invoice factoring.
Larger fleets sometimes control their insurance costs by self-insuring. Smaller fleets, though, often don’t have the financial resources to self-insure, so more of them are turning to “captive” insurance programs.
Fuel surcharges have a long history in the transportation industry, dating back to the Arab oil embargo in 1973 by most accounts. While the early days of surcharges were straightforward to calculate, that is no longer true, and they may not even be the best way to manage costs anymore.
If your small trucking company seems like it is operating on a week-to-week basis, you are not alone. According to a new survey from Mercator Advisory Group, 75% of small businesses in the U.S. routinely delay purchases at least once or twice a year because of cash flow issues. You can minimize this impact, though, through proper planning.
Fleets do not have to be stuck paying high insurance premiums as there are a number of choices they can make to lower their risk profile and cost. Here are 10 ways to help do that.
There are times in every business owner’s life when you need cash. The business has hit a rough patch, an unexpected expense has arrived, or a new business opportunity has presented itself, but you don’t have the money to take advantage. So how do you get the money?
