what it means for trucksmarter customers
Factoring transition
TruckSmarter factoring is transitioning to OTR Solutions.
Zero interruptions
One step transition. Set a new password with OTR Solutions and you’re done, begin factoring invoices and getting paid immediately.
A market leader
Enjoy true non-recourse factoring, truly instant 24/7 funding, and the industry’s best customer service, without any changes to your TruckSmarter factoring rate.
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FAQS
Will my factoring deal with TruckSmarter carry over to OTR Solutions?
Yes, your existing TruckSmarter factoring rate, fees, and contract terms will remain exactly the same with OTR Solutions.
Where will OTR Solutions send payments after the transition?
Factoring payments will default to your TruckSmarter bank account, no configuration to receive standard factoring payments is needed at this time.
What will happen to invoices submitted to TruckSmarter prior to the transition that have not yet been factored?
Invoices submitted to TruckSmarter but not yet paid have already been migrated to your OTR Solutions account for processing and payment. To view these invoices and their status, log into the OTR Solutions mobile app.
Do I need to tell my brokers about this change?
No action is needed to notify brokers or customers — our back-office teams are handling that for you.
Will I still be able to access the TruckSmarter app and load board?
Yes, you will still be able to access all non-factoring related features in the TruckSmarter app.
How do I access my OTR Solutions account?
Check your inbox for an email from OTR Solutions for the link to create your OTR Solutions password. If you unable to find the email, simply download the OTR Solutions mobile app and complete the forgot password flow using your primary TruckSmarter email address as the username.
Is there a minimum required to factor my invoices?
There are no minimum requirements to factor with OTR Solutions. Whether you run 1 invoice or 1,000, OTR Solutions can factor them all.
What is the difference between True Non-Recourse and Recourse factoring?
Recourse and non-recourse factoring refer to who is liable if the factoring company cannot collect payment on the factored invoice after a certain period of time. Under a recourse program, the carrier is ultimately liable to repurchase the invoice if the factor cannot collect payment after a certain period of time. Under a non-recourse program, the factoring company is responsible and is liable for any defaults of payment from the broker, assuming the carrier met all of the obligations of their contract.
What is freight factoring?
Factoring is the process of ‘selling’ your invoice to a 3rd party company after you’ve hauled and delivered a load to get immediate access to cash while the factoring company takes on the burden of collections from the broker or shipper.
