Factoring companies that fund transportation carriers spend a lot of time making verification calls – ensuring that a truckload was delivered prior to funding an invoice.
Making verification calls takes so much time that most factors aren’t able to verify as many transportation deals as they’d like. They simply cannot afford to invest a majority of their day verifying when there are funds that need to be released urgently.
And there’s no surefire way to ensure that the data is accurate – that the person taking the call is being truthful. The threat of fraud is always hanging over factors’ heads.
Today, there’s a better solution. TruckerCloud is a freight visibility company that aggregates ELD data from trucks. Factors can choose to view accurate location data (in real time or retroactively) in our platform, or it can be integrated into factoring software so it’s all in one place.
Now factors can verify every load automatically, saving time, lowering overhead expenses, and reducing fraud. If you’d like to find out more, fill out the form below.