OTR Solutions

Controlling back office costs helps offset compressed broker margins

The ongoing freight recession has now plagued the market for longer than the COVID boom, but high-frequency data from FreightWaves SONAR suggests it might be coming to an end sooner rather than later. Brokers, however, should not expect a market turn to completely alleviate the downward pressure on their gross margin.

While the freight recession has had a negative impact on both brokers’ margins, and carrier linehauls, an explosion of automation and technology, along with an unprecedented number...

https://www.freightwaves.com/news/controlling-back-office-costs-helps-offset-compressed-broker-margins

OTR Solutions acquires back-office automation platform Epay Manager

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Transportation fintech provider OTR Solutions announced Tuesday it has acquired back-office...

https://www.freightwaves.com/news/otr-solutions-acquires-back-office-automation-platform-epay-manager

Carriers need True Non-Recourse factoring as brokers continue to close up shop

Last year was a treacherous time to be in the logistics industry. While experts are more optimistic about 2024, flipping the calendar over to January did not offer instantaneous relief. 

Brokers and carriers are still feeling the sting of the ongoing freight recession, and factoring companies can be critical partners during this time. This is especially true as freight brokers – ranging from small companies to household names – continue to enter and exit the market at breakneck speeds. 

When a...

https://www.freightwaves.com/news/carriers-need-true-non-recourse-factoring-as-brokers-continue-to-close-up-shop

True nonrecourse factoring offers unparalleled protection for carriers

The ongoing freight recession has created a difficult operating environment for carriers and brokers alike. The sheer amount of capacity in the markets remains significantly higher than demand. At the same time, brokers are entering and exiting the market at a rapid pace.

This combination of challenges has made it difficult for carriers to create and maintain lucrative partnerships in recent years.

While spirits were lifted during the third quarter of 2023, brokers and carriers have seen a stark...

https://www.freightwaves.com/news/true-nonrecourse-factoring-offers-unparalleled-protection-for-carriers

What recent brokerage failures tell us

The freight industry has seen a wave of brokerage bankruptcies in recent months, and that surge is causing significant disruptions for carriers, undermining their financial and operational stability.

Rachel Premack, editorial director at FreightWaves, and Clayton Griffin, chief strategy officer and EVP at OTR Solutions, spoke on current challenges during a fireside chat Wednesday at FreightWaves’ F3: Future of Freight Festival. Their conversation centered on obstacles faced by freight brokerages...

https://www.freightwaves.com/news/what-recent-brokerage-failures-tell-us

Failing brokerages, asset-based lending imperil carriers, says OTR Solutions

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With brokerages closing and some filing for Chapter 11 protection, a major factoring company has...

https://www.freightwaves.com/news/failing-brokerages-asset-based-lending-imperil-carriers-says-otr-solutions

Breaking: Convoy cut off by OTR Solutions

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The factoring company OTR Solutions has put Seattle-based digital freight brokerage Convoy on its...

https://www.freightwaves.com/news/breaking-convoy-cut-off-by-otr-solutions

OTR launches Clutch debit card service

OTR Solutions announced Tuesday it has launched OTR Clutch, a banking application for carriers.  

OTR Clutch enables all U.S.-based carriers to open what functions much like a standard bank account. Fleet managers can extend account access to others and set spending limits on cards. Those that utilize OTR Solutions for their factoring needs can link their Clutch accounts to the company’s platform to guarantee quick access to earnings.

“We are very excited to launch OTR Clutch not only as a...

https://www.freightwaves.com/news/otr-launches-clutch-debit-card-service

Expedited carrier utilizes factoring partner to ensure drivers remain top priority

The transportation industry has truly been founded by families. 

While many companies have left those familial roots behind, others are holding on strong. Time and again, it has become clear that drivers — and customers— find serious value in companies that continue to embrace their heritage.

C5 Expedite started out as — and continues to be — a family-owned and operated expedited transportation business. When C5 President and Co-founder Clayton Ramsden started the company with his father, he was...

https://www.freightwaves.com/news/expedited-carrier-utilizes-factoring-partner-to-ensure-drivers-remain-top-priority

OTR rebrands to help SMB carriers compete with large fleets

Factoring company OTR Capital announced Tuesday it has rebranded to OTR Solutions, moving from its traditional factoring and back-office expertise to providing its owner-operator and small-to-medium-size carrier clientele solutions to build and scale their businesses and compete with large fleets.

In an exclusive interview with FreightWaves, co-founder and CEO Fritz Owens explained that the move to rebrand as a solutions provider was “simply a more accurate description of who we are today and...

https://www.freightwaves.com/news/otr-rebrands-to-help-smb-carriers-compete-with-large-fleets

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