This year is likely to be a good one for trucking businesses.
Industry sources expect higher freight volume, growing demand for short hauls, a focus on reducing detention, increases in digital load booking, falling fuel costs, improvements in supply chain processes, and rising refrigerated freight rates and demand, according to a January blog post by logistics FinTech RoadSync.
For truckers on the road, though, that adds up to a lot more paperwork. They’re constantly transacting with other businesses, scheduling jobs and making or receiving payments from warehouses, brokers, repair shops, towing companies and others. The time they spend invoicing, receiving payments and keeping records is time they don’t spend driving.
Half of the drivers surveyed by RoadSync, for instance, reported that they work with a new shipper, carrier or broker every week, so they must spend time interacting with different payment platforms and preferences.
To help boost the speed, accuracy and efficiency of these transactions, several companies offer digital tools that turn truck drivers’ mobile devices into payment solutions.
For its part, RoadSync rolled out a new expense management app for truck drivers this week, according to a press release. Dubbed RoadSync Driver, it supports seamless payments and equips drivers with tools that help them manage expenses, digitize paper trails and streamline communication.