How Route Optimization Software Can Help You Secure A Line Of Credit

How Route Optimization Software Can Help You Secure A Line Of Credit
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A Line of Credit (LOC) is usually preferable to a standard term loan, as it gives you much more flexibility.

But getting a LOC isn’t always easy. The lender will perform a rigorous review of your credit history, tax returns, and many other business documents, and they’ll also want a projection of your business revenue and expenses, along with an explanation of how exactly the LOC will be used. They want to make sure that you can pay them back.

To secure a LOC, you’ll need to support your business plan with cold, hard data.

That’s where our route optimization software comes in. Route4Me will help you source all the sales and operations data you need to convince lenders that your reports and projections are accurate. Read on to learn how:

#1 Design a Foolproof Sales Plan

If you’re asking for financial help with an expansion, lenders will take a hard look at whether your business will actually be able to generate more revenue after you’re given some capital to work with.

How are you going to prove that you can make more money later if you have a little money now?

Our fleet route planning software comes with an interactive map feature, which makes it easy to see where you’re doing business and where you’re not.

Are you covering every area you could possibly cover? Or is there a goldmine of nearby communities you could potentially service, if only you had the money to expand… with our maps, you can prove that these opportunities for new revenue really do exist.

You can keep track of which leads are hot and which are cold on Route4Me, and you can create mock routes with real addresses, allowing you to see exactly how much it would cost to expand into new territory.

Want To See For Yourself How Route4Me Can Boost Your Profits?

Whether you want to slash the time it takes you to plan routes for your drivers, increase the number of stops they can make, or keep your customers satisfied knowing that your drivers show up on time… Route4Me helps you achieve that!

#2 Make Operations More Efficient

When your finances are being reviewed by a lender, the less waste they find, the better.

In most cases, a business has to deal more expenses as it grows. As your sales increase and you have more customers to visit, you’ll likely need to hire more dispatchers to handle all the extra traffic.

But not necessarily.

By switching over to Route4Me, you’ll cut the amount of time it takes to plan routes from several hours down to just 30 seconds or less. You won’t have to hire a new dispatcher to accommodate a whole bunch of new routes, which means you can add profits without adding any expenses. You can have your cake and eat it, too.

So you won’t need as many dispatchers, and for the dispatchers you do have, route scheduling software makes their job easier. That’s because of GPS tracking. You can see exactly what your drivers are up to, in real time.

Are drivers delivering on time? Are they taking long breaks? Is someone broken down in the middle of the street?

You and your managers can get the answers to all of these questions and more with the map inside our software. In fact, depending on the size of your operation, you might not need any driver management at all once you have Route4Me. Imagine how much money that would save you.

Preventing Driver Fraud

Also, Route4Me prevents drivers from billing hours they never really worked. You’ll know where your drivers are at all times, so there’s no way for them to lie to you and get away with it.

Read the following article to learn more about how route optimization software prevents driver fraud:

Routing Optimization Software Prevents Driver Fraud

Centralized Transportation Management

Fleet routing software offers centralized transportation management as well. This means that you can monitor drivers, plan routes, and access reports all from the same place.

Read the following article to learn more about the benefits of this feature:

Why You Need a Centralized Transportation Management System (and How Fleet Route Planning Software Can Help)

Route4Me is easy to use. It’s fast, too, with 100% accurate routes produced in just seconds!

#3 Increase Your Profit Margin

Future projections are great, but lenders are also interested in how much you’re making now.

If other companies in your industry tend to have a profit margin around 4%, yet you’ve managed to earn a 7% margin, lenders will prefer to fund your business over the others. A bigger margin makes your business look healthier, like you have an easy time paying back people who’ve spotted you some money. Lenders like that.

As previously mentioned, route optimization software increases your profit margin by allowing you to add profits without adding expenses. Route optimization software increases your profit margin in another key way: your drivers will arrive on time much more frequently, which will make your customers happier, which in turn will lead to your customers remaining loyal and even recommending your service to others. More loyal customers combined with organic word-of-mouth marketing will, of course, increase your profit margin.

Keep Your Drivers On Schedule

Read the following article to learn more about how route optimization software can increase your profit margin:

The Brutal Truth About The Transportation Industry’s Cutthroat Profit Margins

Have any questions? If not, we’ve got one for you – What strategy do you use to secure a LOC? Let us know the comments below.

Want To See For Yourself How Route4Me Can Boost Your Profits?

Whether you want to slash the time it takes you to plan routes for your drivers, increase the number of stops they can make, or keep your customers satisfied knowing that your drivers show up on time… Route4Me helps you achieve that!

 

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