In the shipping industry, freight matching is a common practice which is defined as the process through which consignees are paired to the flight carriers by the use of truckload boards. The main reason why freight matching is done is to ensure that all the available space in the trucks has been filled up to prevent losses that may arise as a result of the consignment travelling over a long distance when empty. Load boards are highly suited for freight matching and can either be operated by companies or even independent owners. Space available in any given truck is announced to potential customers including the destination of the consignment so that they can decide on whether to bid for it or not. The potential customers will then use the load boards to match the needed requirements for shipping which will then afterwards be matched to the trucks available and their destination. A user needs a given level of expertise to operate the load boards effectively and productively.
With innovations that have come by, freight matching has greatly being fostered through innovation such that there are software used. The innovation have been culminated with the development of digital freight matching which uses platforms in the web to connect individuals and companies who are shipping to the trucking capacity that is available. When working with the traditional freight brokers, it was not easy since freight matching would take a lot of time but this has become a narrative with the development of digital freight matching. Some of the components of the digital freight matching include the instant proof of delivery of the consignment, GPS tracking in the real time as well as automated invoicing and payment. Digital freight matching has done a tremendous change in minimizing traffic by the trucks as well as reducing pollution. With reduced number of backhauls and consolidation of various shipments, traffic and pollution has been greatly reducing.
Truck owners require finances upon delivery hence freight factoring plays the role. Once a consignment has been delivered to the recipient, truck owners and operators can receive payment soonest possible other than waiting for customers to pay from the freight invoice factoring company. One needs to submit the freight bill to a factoring company as well as a proof of delivery of the consignments either via emails, fax or any other fast means. To receive payments indicated on the invoice, the freight factoring company need to verify the invoice for assurance that the customer will pay. The company usually charges a given percentage of the total freight involve where one will receive the amount in invoice less the charges. Once they pay, they usually wait for the customers to pay for the freight of their consignments. These companies have helped many individuals save of time before they receive their payments after delivery of goods.
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