A US based trucking company was using an existing trucking management and accounting software that doesn’t have all the required features. They were looking for a comprehensive trucking accounting solution that could sync with their trucking management solution and could be easily integrated with other trucking software tools that they are using.
A cloud based trucking solution was the need of the hour, that would essentially have an extensive list of trucking accounting features with payroll integration, expense management, track profit and loss by load, LTL planning and billing, and IFTA tracking and reporting.
Trucking companies have specialized needs when it comes to accounting. Not only do they need to manage their books, equipment depreciation, but they also have to keep track of inventory, heavy machinery and extensive travel for their drivers. Therefore, aside from standard accounting features like general ledger, accounts payable and accounts receivable, these accounting systems will have freight, per-mile and other transportation-specific pricing, and will support driver and vehicle tracking, reservations and dispatch and mobile solutions to facilitate driver-dispatcher communication.
For trucking companies, one of the major challenges are the unpaid receivables. It’s very difficult to track every single expense related to dispatch of loads and mounting driver expenses. And it becomes imperative for trucking companies to manage every aspect of their expenses with a proper visualisation dashboard and accurate reporting. The portal we developed, has an excellent expense management system that can track all office and driver expenses.
Trucking companies need to maintain a proper record of all accounts receivable and payable. Thus its imperative to maintain a flawless collection process to ensure clients receive invoices on time ensuring a timely collection of payments from outstanding invoices with supporting documentation, and payments are received within payments terms. The client was struggling to sync between trucking management solution and accounting solution which was making it difficult for them to manage their cash flow.
Trucking industry is challenged by a higher than average rate of turnover which can be costly, so taking the time to ensure you have solid employee performance management processes in place can really impact the bottom line.
84 percent of customers are unlikely to return to a brand after only one poor delivery experience. Hence, proper dispatch and tracking record maintenance is important.
Maintaining paper documents is difficult and leads to errors.
The Accounts Receivable (A/R) and Payable (A/P) section keeps track of all the invoices to be paid or received related to each trip.
Easy management of fuel tax data with IFTA reporting.
This is used to process payroll of company drivers and employees. Reports are generated based on trip pay details and related expenses.
All office expenses and driver expenses are managed through the system. The system through an app keeps record of all other expenses related to each trip and expenses of the truckers which helps in accurate projections of profit and loss.
Accounting bookkeeping helps to generate a complete set of management reports to understand company’s financial status – total assets, liabilities and reconciliation of accounts.
All basic accounting functions required to run a business are covered. This includes general ledger, accounts receivable, accounts payable and bank reconciliation.
Automates the process of running financial reports including expense reports, profit and loss (P&L) statements and balance sheets. Increases transparency into financial records and allows for more accurate data tracking.
The International Fuel Tax Agreement (IFTA), was created to streamline the collection and distribution of fuel taxes for carriers who operate in multiple jurisdictions. System allows to upload statewide fuel statement and
generate IFTA report based on that.
Allows drivers to capture business expenses due to travel (including mileage, lodging, food etc.), create expense reports and submit claims to management for reimbursement.
An integrated payroll module that help track driver expenses, wages and benefits and simplify tax preparation.
This is a mobile application that runs on both Android and iOS platforms. It helps drivers to keep track of their trip and related expenses.
The solution helps to track detailed information about loads, delivery date and time with details of the driver and related expenses.
Onshore Business Analysts from DreamzTech interviewed stakeholders from client premises and gathered requirements for the project. They worked with offshore Business Analyst and Solution Architects for analyzing the business
objectives as discussed with the client.
The dedicated team assigned to the project analyzed the objectives of the project and the probable solutions to determine technologies to be used, database structure, data flow, and microservices. We segregated the project
into multiple phases with separate deadlines.
Our team consisting of Project Managers, Tech Leads, Designers, Developers, and Quality Analysts worked with the client for over 5 months. The team delivered along with several new enhancements following Agile methodology for
technology implementation with continued support.