The story behind the product TruckViewer is a story of several significant modifications. The trucking business market only seems to be easily comprehensible. However, the logistics and interaction among the market participants are not as obvious as they seem to be. We have been constantly monitoring our competitors, and we are happy to announce that we are currently one of the most interesting products at the market. TruckViewer covers all the stages of the process, starting with the signing of the confirmation load and up to the remuneration for the driver, and invoices for the broker and factoring company. The product’s integration with QuickBook allows to perform full analysis of the financial activity of the company, and provides opportunity to decrease expenses.
The savings with TruckViewer deserve to be pointed out. These figures are significant. Let’s take a look at a simple example which demonstrates how much a business owner with 10 trucks can save with the help of TruckViewer:
- Since TruckViewer helps to decrease the amount of paperwork involved, a dispatcher who could effectively handle only 5–6 trucks before, now can deal with 10–12 trucks. This means that one dispatcher’s salary is saved. An average dispatcher’s salary is $62355.
- According to the statistics, a company with 10 trucks needs one full-time bookkeeper. Now, with all the data stored in QuickBook, it is enough to invite a bookkeeper twice a month. An average bookkeeper’s salary is $59737
So, the yearly savings for a company with 10 trucks are about $122,000, only for the salaries.
We are not considering additional savings which come with the decrease in number of mistakes made and fines applied. The pace of the turnover increases, and brokers are comfortable working with a company with such degree of efficiency.
Another important point to mention is the fact that with TruckViewer a business can grow very fast, increasing the number of trucks and hiring new dispatchers. This is explained by the transparency of all the primary documentation, all the processes are well controlled, and it is always easy to see where the company is gaining or losing.
Smargo и TruckViewer
This joint can serve as an example of perfect collaboration. The ideal symbiosis — obtaining the primary data via TruckViwer with its further confirmation in the blockchain on the Smargo platform — provides the opportunity for creating and serving smart contracts, from which, in its turn, the global market model change begins.
Here is a simple example: if all the primary data is confirmed, and TruckViewer is able to track the end of the transporting cycle (access to the Bill of Landing, which is a confirmation for the freight delivery to the destination), then a basic smart contract can provide the invoice for the broker and factoring company. Moreover, each of the participants will obtain the required documentation packet in compliance with the common rules and regulations.
The chain reaction which might follow is interesting too. The financial benefits in which this collaboration might result are obvious. Let’s see what is to happen next:
Bookkeeping department receives the whole package of documentation without a bookkeeper, and, thus, can serve a larger number of companies.
Trucking company can save more money, and the financial operations are more transparent; cash turnover is faster, and factoring companies’ rates are lower, and, what is important, there is a % from the broker’s contract.
Broker is able to track all their freights, control over the performance, and decrease the expenses for the documentation involved.
Factoring company receives the whole package with all the required documentation, lower controlling expenses, full brokers’ rating, and as a result, the number of losses goes down, and the rates for trucking companies go down as well.
Government and state receive transparency in business logistics and preemptive control over violations.
Even drivers benefit from this collaboration as their wages go up (earnings per mile), for their company’s profit has increased and it is interested in its employees’ motivation.
That is what the optimization of the work process looks like with the collaborative efforts of the Smargo platform and TruckViewer. It allows to increase the market’s profit without increasing the price of freight transportation. It is a Win Win scheme which can be created with the help of the integration of Smargo and primary applications.
Therefore, when we are talking about the market change, we are not talking about the future rather than the PRESENT which is right in front of us.