McKelvey Trucking markedly improves profitability when using newest version of Financial I.Q. 2.0 trucking software to take the guesswork out of lane analysis.
Phoenix, AZ, —Fluctuating fuel costs, declining freight rates, increasing insurance requirements and escalating government regulations are all factors that make profitability assessment within the trucking industry critical to a trucking company’s survival. Recognizing the importance of customer rate profitability and staying abreast of current technologies is what has helped make McKelvey Trucking an industry leader for over fifty years.
Hoping to improve overall profitability when assessing potential and current customers, Dale Fink, CEO of McKelvey Trucking called on long time trucking analyst; Andy Ahern of Ahern & Associates for a solution. Fink found that solution in the latest release of Financial I.Q. 2.0 trucking software.
Financial I.Q. 2.0 transportation software is a windows based application which works directly off of the company’s actual financial statements to provide the user with keen insight on individual loads, shipping points, lanes, rates for bids, customers, round trips and equipment. When analyzing these individual segments, Financial I.Q. 2.0 generates a profit and loss statement that accurately details total revenues, total expenses, bottom line profit, profit percentages and operating ratios.
In addition, this version of Financial I.Q. 2.0 has an outstanding “what if analysis” capability for measuring the bottom line effect of any changes in rates, costs, productivity, miles per gallon and business volume.
Fink and McKelvey Trucking regularly use Financial I.Q. 2.0 to perform lane analysis when considering placement of a potential customer and to determine profitability. Fink explains, “Financial I.Q. gives us accurate analysis when we run a current or prospective customer through certain lanes; we can see if it’s profitable or not, then we can make adjustments.” Fink explains how they are able to make those adjustments, “It (Financial I.Q.) also gives us a handle on equipment by assisting us in determining who we put on certain loads; depending on the analysis, the software helps us decide whether we use an owner-operator or a company truck.”
Mark Gwynn, VP of McKelvey Trucking oversees the operation of Financial I.Q. 2.0 and knows its effects first hand. “Financial I.Q uses our actual company data to help us gain a better understanding of what types of costs are associated with our customers’ lanes and gives us the ability to rate accordingly—it’s a tremendous tool which has made a real impact to our bottom line.”
Financial I.Q. is profitability software customizable for all sizes of truckload, LTL and freight broker firms; a free demonstration can be found at http://www.ahern-ltd.com/offers/financialiq .
About Ahern and Associates:
Ahern and Associates is North America’s leading trucking and transportation management consulting firm. The skilled consultants at Ahern and Associates specialize in mergers and acquisitions of trucking and logistics companies as well as the restructuring and evaluation of existing carriers that seek to increase operating efficiency and improve profitability. Since 1987, Ahern and Associates has aided hundreds of buyers in the acquisition of trucking and logistics companies throughout the U.S. and Canada as well as assisting many transportation and logistics companies in reducing their overall operating costs and increasing their profitability. For more information, please call 602-242-1030 or visit http://www.Ahern-Ltd.com.
About McKelvey Trucking:
McKelvey Trucking is a Phoenix, AZ based truckload dry van carrier that operates within seven western states; primarily between Arizona, California and Nevada and has been in operation since 1957. With a fleet of over 200 tractors, McKelvey specializes in direct to store/customer delivery with Qualcomm-equipped tractors and drivers experienced in providing customers with the service their business demands. Utilizing the most current shipping technologies, McKelvey offers state-of-the-art EDI as well as Internet-based Track and Trace to aid customers in monitoring their shipments. For more information, please visit http://www.McKelveyTrucking.com .
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