Managing cash flow is a critical aspect of any business, especially for brokers who rely on a steady stream of revenue to keep their operations running smoothly. However, cash flow management can be complex, especially when dealing with multiple customers and their payment schedules. Our team understands these challenges and we have developed a solution to reduce the complexity of managing cash flow: Collection Summary.
Visualizing Complex Data in a Simple Manner
One of the significant advantages of most modern TMS’s is the ability to visualize complex data in a simple manner. Cash flow is often a complex problem to tackle, relying on the constant ebbs and flows from your customer base, simultaneously. Find a TMS that reduces this complexity into a singularity view. This can help brokers to identify and address any potential cash flow problems early on at the aggregate level rather than relying on confusing (and often outdated) excel sheets.
Collection Summary Feature
Tai’s Collection Summary feature allows brokers to see their entire cash flow process on a single screen, broken out with data from each customer, giving them insights into credit limit, current outstanding due, or even the last time they spoke to the customer. This eliminates the need to jump back and forth from multiple reports, reducing the risk of errors and saving time.
With the Collection Summary feature, brokers can quickly identify which customers are currently on their payments and which ones may be experiencing difficulties. This information can help brokers make informed decisions about how to allocate resources and support their customers’ financial needs. By detecting potential cash flow problems early on, brokers can take proactive steps to address them, ensuring that their business remains financially healthy.
Choosing The Right TMS: A Strategic Decision For Your Freight Brokerage Success
While there are numerous TMS solutions in the market, it’s crucial to choose one that aligns with your business needs. Look for a system that is easy to use, integrates with your existing technology, and offers robust support and continuous updates. A good TMS is more than just software; it’s a strategic partner that can help you drive your freight brokerage business forward. It provides the foundation for efficient, customer-focused, and profitable freight brokerage operations – today, tomorrow, and well into the future.
If you’re interested in exploring more ways in which tech can alleviate your accounting pains, we encourage you to download our latest Whitepaper. This resource dives deeper into the role of modern tech solutions in transforming freight brokerage operations. Don’t miss out on this chance to advance your knowledge and stay ahead of the curve in this competitive industry.