A Transportation management system (TMS) can be an extremely beneficial tool for anyone working in the transportation industry. Owner-operators, in particular, can benefit from this type of system because of the many useful features it offers. If you’re looking to focus more on what you do best while working independently, read on for our rundown of the top TMS system benefits for owner-operators.
In a nutshell, a transportation management system is a multi-purpose platform that makes it easier to manage certain internal tasks, like invoicing, and other essential processes related to operations. The main purpose of a TMS system is to optimize various processes and procedures in a more convenient and less time-consuming way.
Invoicing is one of those tedious tasks owner-operators looking to maintain a steady flow of income need to handle with extreme efficiency. With a TMS system, invoicing can be done with just one click! This definitely saves you time and speeds up the process of getting invoices out so related payments can come in.
Based on the number of miles driven within a certain area, the International Fuel Tax Agreement (IFTA) is a system used by many states for trucking companies and owner-operators. With a TMS system, IFTA reporting requirements can be automated, which ensures you remain compliant.
Owner-operators sometimes have trips that go unsettled for longer periods of time for one reason or another. With a TMS system, driver settlements can be created so any lingering invoices or load-related issues can be reconciled more efficiently.
Loads are the lifeblood of the trucking industry, in general, and even more critical for owner-operators with fairly narrow profit margins. A transportation management system streamlines the process of confirming loads while also preventing accidental overcharges.
TMS systems are typically integrated with Quickbooks, one of the most popular and widely used accounting software makers. This comes in handy by allowing owner-operators to manage all accounting-related tasks from one source.
Email load sheets can be quickly created with a TMS system. The related benefit here is reduced paperwork demands and headaches. You also won’t have to worry about lost documents or having to find space to store documents where you can easily access them.
A TMS system generates an assortment of useful and informative reports that provide essential info at a glance for owner-operators. Having convenient access to reports related to various aspects of your operations ultimately makes it easier to spot any potential concerns or problems so you can deal with them ASAP.
The basic features we just highlighted are certainly appealing and reason enough to consider a transportation management system. That said, some TMS systems have additional advanced features that include digital document storage and driver messaging.
One other TMS system benefit for owner-operators worth mentioning is being able to easily use your logo on all business-related documents. Yes, this may seem like a small perk. However, it’s an effective way to maintain consistency with your brand – and to keep your name front-and-center for clients.