"Just as an FYI our payment terms have now changed to 120 days. This is non-negotiable." This is an email I received this week from an enterprise shipper.
So it got me thinking, I think it's about time to address one of the most relevant topics in the trucking industry: cash flow.
As a shipper, do extended pay terms impact your freight costs? As a broker or carrier, what are your options for sustaining such lengthy cash flow cycles?
Should there be a difference in how you view partners with 30 day terms and partners with 120 day terms? How can brokers and carriers better manage their cash flows to retain strong balance sheets and healthy profit margins?
I NEED YOUR QUESTIONS, because Steve Kochan, Founder and CEO of ComFreight and HaulPay and I are going to get them answered.
