A couple of weeks ago, I attended the McLeod User Conference in San Antonio. McLeod Software is the leading trucking software used by some of the most innovative transportation and logistics companies.
It was a great conference for VersaPay to connect with our customers who are using McLeod and learn more about the changes in the transportation industry. The show was impressive with great educational sessions and interesting keynote speakers.
One keynote speaker that was most memorable was, Tom McLeod, founder of McLeod Software. He kicked off the show with a transparent overview of the uncertain times the transportation industry is facing.
When Tom covered the obstacles and ambiguity the industry is faced with, it became apparent there are key areas that will change transportation business operations and introduce new conversations on how to adapt. Here are a couple of key areas Tom highlighted that are brewing with uncertainty:
Regulation: new regulations in the industry will affect transportation business operations including Federal Motor Carrier Safety Administration’s (FMCSA) ELD (Electronic Logging Device) mandate, new overtime /pay rules, the Affordable Care Act (ACA) fall out, speed limiter rule, Phase II GHG regulation.
Supply chain disruption: new players and threats emerging in the industry creating competitive pressures from Amazon, Panamax and Hanjin.
After covering these areas in detail, it seemed like the transportation industry is facing doom and gloom. These areas became the platform to kick off the second half of Tom’s keynote, “How to be certain in uncertain times”.
He zeroed in on how technology will be the source of this certainty to help meet new regulations, and improve supply chain to beat out competitors. The message that most resonated with myself and the audience was: “Be certain: automate repetitive work.”
This hit close to home for me working at VersaPay, because we do exactly that. We help B2B businesses automate repetitive work in accounts receivable to focus on the key areas that really make a difference. Repetitive work takes up time, is costly and error-prone. For example, resending invoices, sending payment reminders, uploading PDFs and attachments, and manually matching payments to invoices. By automating, you can be certain those tasks are taken care of, while your team focuses their efforts on high value work that makes an impact on customer relationships, business operations, and most importantly, your bottom-line.
Join the 50,000 accounts receivable professionals already getting our insights, best practices, and stories every month