Invoice Factoring
Invoice Factoring
Get paid within 4 hours for approved invoices from the most reliable invoice factoring provider—Outgo, a DAT product.
To effectively use invoice factoring, it’s crucial to identify the best programs and services for your business. Outgo, a DAT product, offers a leading factoring program, advanced technology, exceptional customer service, integrated broker checks, and automated invoicing.
- Boost your business by supercharging your cash flow
- Streamline and optimize your operations with a centralized back office
- Elevate your business decision-making with improved freight booking and fast payments.
Boost your business by supercharging your cash flow.
Avoid taking on loans. Use Outgo, a DAT product, to sustain a stable cash flow.
Carriers have been using factoring services for decades, and for good reason — payments from brokers and shippers can be slow, which means your income could fall short until you get paid. Using Outgo, a DAT product, for invoice factoring ensures steady cash flow, avoiding delayed payments and financial challenges.
Streamline and optimize your operations with a centralized back office.
Easily onboard brokers, automate document management, and control your cash flow all in one place.
Outgo, a DAT product, offers flexible factoring solutions supported by a state-of-the-art financial platform. Outgo’s success is intricately tied to the accomplishments of its clients, who understand their business needs best.
Elevate your business decision-making with improved freight booking and fast payments.
Outgo, a DAT product, offers essential tools for efficient business management and growth.
Submitting invoices and getting paid should be the easiest thing you do all day. Outgo simplifies invoicing and payments with its iOS, Android, and web app, allowing carriers to manage their businesses with an easy-to-use platform that provides business snapshots of brokers and new insights on earning and spending.
While running a trucking company doesn’t require invoice factoring, it’s worth knowing that a substantial number of US carriers, ranging from 50% to 80% of those operating 1-400 power units, choose to work with factoring companies. If you’ve been in the freight business, you’re no stranger to the challenges of managing invoices and chasing payments from brokers and shippers. Factoring steps in to provide your business with a steady cash flow and valuable back-office services. This allows you to focus on what you do best: finding freight, building relationships, and growing your business.
Factoring companies sometimes have a bad rap. In the past, some factoring services have overcharged truckers or made them wait forever to process invoices. But with Outgo, a DAT product, you’re in for a different experience. We offer a trustworthy and efficient factoring service, ensuring you get paid within 4 hours for approved invoices.
Factoring companies apply a discount fee, often referred to as a percentage fee, to the total invoice amount being factored. This percentage rate can fluctuate depending on factors like the services provided, the type of program, and the monthly factoring volume, among others. Factoring rates typically span from less than 2% to 5%, varying according to the specific details of the carrier’s operation.
Before you commit to any trucking service, it’s a smart move to weigh the costs against the benefits. Factoring services take a small percentage from each paycheck, so you’ll want to be sure it’s a money-saving choice before you decide. On the bright side, receiving prompt payments upon delivery for each load can help you avoid falling into debt due to delayed payments. And with Outgo, a DAT product, you’re in control. When you choose to factor, you’re charged a low factoring fee, but if you wait until Day 30 to factor, then your rate drops to 1%.
When it comes to factoring contracts, they come in various lengths, with the shortest lasting around 90 days and the longest extending for a year or even more. And nearly all factoring contracts have an auto-renewal clause. This means that if you sign up for a 30-day trial, it will automatically renew into another term, usually longer, unless you provide notice. However, Outgo, a DAT product, lets its customers cancel at any time with 15 days notice.
Contracts are a fundamental part of any factoring arrangement and should be carefully reviewed. However, the key isn’t just about the contract itself; it’s about the program they’re offering and how it benefits your business. Beware of providers claiming ‘no contract,’ as this may be a sign that they’re not being transparent about their terms and conditions.
Whether you’re a single owner-operator or managing a small fleet, success and competitiveness in the market requires more than just cash flow. Many owners underestimate the impact of having an ineffective back office on their business. Factoring provides you with a dedicated team whose primary task is to ensure payments are received and payment amounts are accurate, preventing losses from issues like short payments. It’s important to remember that merely having an invoice doesn’t translate to income. Factoring not only accelerates your income but also enhances its reliability. With this strong foundation, growing your business can happen faster and on a larger scale.
Get paid within 4 hours for approved invoices with Outgo, a DAT product!
Experience the most convenience and trustworthiness in factoring services with Outgo, a DAT product. With Outgo factoring, you unlock access to cash flow, cutting-edge tools and technology, and excellent customer support. Getting started with their services is a breeze – give it a try today!
Outgo, a DAT product
- Invoices approved within 4 hours
- Low, transparent rates (no hidden fees)
- No annual contracts, no reserves