How 3PLs and Freight Brokers Can Maximize Profits & Have Sustainable Growth
When it comes to growing your business, effective financial management can make all the difference. Two critical aspects that all freight brokers and third-party logistics providers (3PLs) should be focused on are optimizing cash flow[...]
“If you can help reduce our days sales outstanding (DSO), that will be a big win.” This is what I heard recently from the Director of Finance for a freight broker. At the time of[...]
Debunking 4 Common Myths about Invoicing, Auditing, and the Cash Conversion Cycle
As long as there has been a logistics industry, organizations have had the challenge of managing invoicing, auditing, and the cash conversion cycle efficiently. And, it seems as long as there have been these challenges,[...]
The goal of any third-party logistics provider (3PL) or freight broker is to ensure seamless transportation and delivery of goods for their customers. While there are many other business objectives, this is priority one. Making[...]
I just returned from SMC3 Connections in Orlando. It is always a highlight of my year and I enjoy the many conversations and the insights that the conference affords; this year was no exception. Over the[...]
In today’s fast-paced logistics industry, efficiency is the key to staying competitive. As published in Digital Journal, the freight audit and payment market is set to experience significant growth over the coming years with a[...]
The Top Five Obstacles That Impact the Cash Conversion Process
The cash conversion process is a critical business operation for third-party logistics providers (3PLs) and freight brokers. However, this process is often fraught with obstacles that can negatively impact cash flow and ultimately be an[...]