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[...]
The Power of Reducing Days Sales Outstanding (DSO) for Your Business
In any business, cash flow is king, this is especially true for those in the logistics space. With the economic uncertainty and the impact that it has had on the freight market, it is imperative[...]
The cash conversion cycle is an important process for any third-party logistics provider (3PL) or freight broker that wants to improve their financial health. However, in many organizations, the focus on this key area of[...]
Virtually all freight brokers and third-party logistics providers (3PLs) understand the continual challenge of scaling their business while maintaining profitability. Traditionally, increasing business volume meant hiring more staff leading to higher overhead costs which can[...]
One of the things every business owner knows is that little things make the difference and that when you get the small things right, it often leads to positive and impactful outcomes. One of those[...]
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,[...]
How AI and Automation Are Transforming 3PL & Freight Broker Efficiency The world of logistics and supply chain management is rapidly evolving, with technological advancements driving unprecedented levels of efficiency and cost reduction. Among the[...]
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[...]