Factor Case Study
30% YOY growth.
Better client relationships.
HubTran made it possible.
In the freight industry, cash flow is the name of the game. Waiting weeks or months for cash can stop a freight business right in its tracks.
Bibby Transportation Finance provides reliable cash flow freight companies need to grow, but manual processes were slowing them down. “Our process was more labor-intensive – from keying in data to organizing emails, faxes, and scanned paper documents to chasing down signatures and other missing information,” says Mary Ann Hudson, Executive Vice President of Bibby Transportation Finance (BTF).
Then, BTF discovered HubTran – and its ability to work seamlessly with FactorSoft, their portfolio management system. “FactorSoft and HubTran work together so we can process client fundings much faster than we used to,” explains Hudson. “HubTran processes the paperwork and uploads it to FactorSoft for us. There’s no more rescanning, no more printing. It’s importing at the click of a button, literally.”
The result? BTF saw 30% YOY growth in their first year with HubTran. Not only that, HubTran freed up back-office staff’s time so they were able to focus on client relationships. Now that’s what we call a win-win.
HubTran processes the paperwork and uploads it to FactorSoft for us. There’s no more rescanning, no more printing. It’s importing at the click of a button, literally.
Mary Ann Hudson | Executive Vice President of Bibby Transportation Finance
Current Factor System
CADENCE / FactorSoft
- Painfully slow manual processes
- Needed automation that “talked” to their current TMS
- 30% YOY growth
- Increased bandwidth to deepen client relationships