Over the past year alone, trucking technology has been going through a revolution of sorts. The truth is that Silicon Valley, comprised of major corporations and ambitious startups, have focused on the trucking industry as one of the remaining untapped fields with inextricable ties to technology. However, the reach of the emerging trucking technology has an impact which is bigger than just fleets and owner operators.
Trucking Technology And Commerce
In the past, Express Freight Finance has reported on the emerging use of blockchain technology. While the term is mostly used with obscure currency markets like Bitcoin, blockchain technology is making trucking more efficient. Before, when there was a recall on an item, every single shipment would have to get returned to the distributor or manufacturer. Blockchain technology allows businesses to dial in on the individual shipment, if not the specific items, that need to be recalled, which saves business owners and truck drivers a lot of time and energy. Blockchain technology is being expanded to food, as well, to prevent massive recalls in the case of an accidental outbreak.
Trucking Technology And Legislation
For better or worse, the trucking industry as a whole is still adapting to the ELD mandate. For fleet owners, the mandate means being able to monitor downtime and fuel efficiency. For drivers, it may mean more time off the road and added pressure when hauling time-sensitive shipments. But this is just one example of trucking technology enabling or driving legislation. In the near future, the industry will be facing rulings on automated vehicles. The introduction of Uber’s app for independent driver may be handled by individual states, based on need and how much the service could impact existing carrier revenue. As IT companies keep coming up with ways to automate commerce, we may see the mandatory implementation of trucking tech increase even more over the next few years.
Trucking Technology That Puts Money In Your Pocket
While trucking technology may impact the way we do business, it cannot eliminate the basics. Truckers work hard to make deliveries, and those deliveries yield revenue. However, the waiting period on customer payments can severely impact both fleets and owner operators. Express Freight Finance provides a simple, electronic way to get cash for open invoices right through your phone, within 24 hours. Our freight load factoring services are hassle-free, and do not require purchasing or installing special technology. Contact our offices today to learn more.