Earlier today, 5 Star Freight Factoring finally announced the beginning of its new FactorMatch service, which has been in development since February 2018. The main aim of FactorMatch is to provide trucking companies an independent analysis of how their specific needs align to the programs available through many different factoring companies. FactorMatch provides carriers with an apples to apples comparison other…. but it does so, with a difference.
Dave Kingman, Head of Marketing at 5 Star Freight Factoring, says: “We wanted to try something new with this FactorMatch service. Anyone familiar with the transportation factoring market will have horror stories of factoring companies playing bait and switch or hiding excessive fees and basically doing things that make it impossible to perform an apples to apples comparison. This is a problem because the factoring companies are not providing all of the information that a carrier needs to make an informed decision.”
So as a welcome breath of fresh air, 5 Star Freight Factoring will instead act as an advisor to trucking companies that are looking to factor. 5 Star Freight Factoring works with a database of factoring programs and can find the best match for any trucking company. 5 Star Freight Factoring chose to make this move because they wanted to level the playing field with the factoring companies and put control of the factoring process back in the hands of the trucking companies where it belongs.
Dave Kingman also said “We want to give our customers an honest, objective view of the programs that are well matched to their needs and to also avoid the bad deals that might be inaccurately represented. With our new FactorMatch service, they have a fresh new possibility. We want them to feel confident that they have a partner that is looking out for them and able to help them find the best deal for their particular situation.”
5 Star Freight Factoring has been in business for since 2008. Since Day 1 it has always aimed to change how factoring works.
This isn’t the first time 5 Star Freight Factoring has defied convention either. In 2012 they caused a stir when they stopped representing the factoring products of a single company and began offering trucking companies a choice of factoring companies to work with.
The new Factor Match service is set to launch August 2018. To find out more about the service and 5 Star Freight Factoring, it’s possible to visit http://5starfreightfactoring.com
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