Sharco Express Slashes Paperwork Processing Time, Frees Cash Flow
Headquarters: Rochester, Michigan
Implementation Start: January 2, 2019
Fleet Size: 65
Operating out of Metro Detroit, logistics provider Sharco Express services the automotive industry among others with a wide range of transportation and warehousing solutions. But even with their over-the-road, regional, and local just-in-time networks humming along, Sharco was slowed down by paperwork.
Sharco’s paper-based system of collecting proof-of-deliveries at their terminal consistently led to one-to-two week invoicing delays. In addition to the potential for lost or destroyed paperwork, $250,000 to $300,000 in cash flow was tied up every day due to the delays.
Sharco’s Director of Business Administration, Michael Ball, knew cash flow could be improved but wasn’t sure if there was a solution that could slash the paperwork processing time and associated costs until he came across Vector in an industry publication. After demoing Vector’s solution and conducting due diligence on other providers, Ball chose Vector based on the superior image quality, ease of use, and pricing.
Onboarding took less than a week and, “since implementation, it hasn’t been on my mind at all. It’s easy, it’s operating in the background. The drivers use it day in and day out. The accounting team is processing invoices from it. It’s easy for guys to pick up. I don’t take any phone calls,” says Ball.
Above all, the accounting team has been able to achieve same-day invoicing. That improvement led to cash flow increasing by up to $250,000 or 83% per day.
With Vector taking a bite out of Sharco’s paperwork problems, it has freed up Ball’s team to pursue other strategic initiatives. Vector opened Sharco up for growth. Since implementation, Sharco’s fleet has grown 33% without additional back-office hires.
It’s been the easiest thing, the whole implementation process. It’s set-it and forget-it, which in the trucking industry, we absolutely love.
Director of Business Administration