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Why is financial management within a TMS crucial for trucking companies?

7/17/25, 12:02 PM

Top 15 tools SME trucking companies use everyday

Top 15 tools SME trucking companies use everyday

The trucking industry runs on technology. From dispatch to compliance to financial management, carriers rely on specialized tools to stay profitable and competitive. Modern fleets use an average of 15+ different software platforms and services to manage daily operations. Here are the essential tools truck carriers use every day to run their business efficiently.


1. Transportation Management Systems (TMS)


A TMS is the central operating system for any trucking company. Modern carrier-first TMS platforms handle dispatch, load tracking, document management, driver communication, and real-time visibility. The best TMS solutions eliminate spreadsheets, automate manual workflows, and provide load-level profitability tracking.


Key capabilities: Dispatch management, load planning, document processing, CRM, real-time tracking, analytics


Carriers adopting AI-native TMS platforms gain competitive advantages through automated load creation from rate confirmations, intelligent dispatching, and built-in financial analytics. The top 5 biggest problems trucking companies solve with TMS software include operational inefficiency, poor visibility, manual data entry, cash flow issues, and scaling challenges.


2. Load Boards


Load boards are online marketplaces connecting carriers with available freight. Major platforms include DAT, TruckStop, 123LoadBoard, Amazon Relay, J.B. Hunt 360, Convoy, and Uber Freight. Dispatchers use load boards to find backhauls, compare rates, and fill empty capacity.


The challenge is checking multiple boards manually consumes hours daily. AI-powered dispatch automation aggregates loads from multiple boards, scores profitability based on route and deadhead, and negotiates rates automatically.


3. Electronic Logging Devices (ELD)


ELDs are federally mandated devices that record driver hours of service electronically. They ensure FMCSA compliance and prevent hours-of-service violations. Most ELD systems include GPS tracking for real-time vehicle location, route optimization, and delivery visibility.


Popular ELD providers: Motive, Samsara, Geotab, Keep Truckin, Lucid ELD


Leading TMS platforms integrate directly with ELD systems to pull location data automatically, eliminating manual status updates and driver phone calls.


4. Fuel Cards


Fuel cards help carriers manage their largest operating expense. WEX (which owns EFS) and Fleetcor (which owns Comdata) provide discounts at major truck stop chains including TA Petro, Pilot Flying J, and Love's. Fuel cards consolidate purchases into single statements and simplify expense tracking.


Smart carriers integrate fuel card data with their TMS to automatically allocate fuel costs to specific loads and trucks for accurate profitability analysis.


5. Freight Broker Visibility Tools


Many brokers require carriers to use visibility platforms like project44, Macropoint, or custom mobile apps for real-time shipment tracking. While these improve transparency, they create app fatigue for drivers managing multiple logins.


The best solution is a unified carrier mobile app that handles all driver communication, load updates, and document uploads in one place while automatically providing broker visibility.


6. Fleet Maintenance Software


Fleet maintenance platforms help carriers schedule preventive maintenance, track repairs, manage parts inventory, and monitor vehicle health. Popular options include Samsara, Motive, and Fleetio.


When maintenance software integrates with dispatch systems, carriers can factor upcoming service into load assignments and avoid dispatching long hauls to trucks due for maintenance.


7. Accounting Software


Every trucking company needs accounting software for invoicing, expense tracking, and tax compliance. QuickBooks Online dominates the small to mid-sized carrier market for general business accounting. It tracks revenue, expenses, and generates financial reports.


The limitation is that general accounting software wasn't built for trucking's unique requirements like per-truck profitability, driver settlements, IFTA reporting, and load-level cost attribution. Financial management within TMS has become essential for operational finance.


For carriers needing trucking-specific accounting, Fintruck provides QuickBooks-level accounting built specifically for the trucking industry. Fintruck directly integrates with Datatruck TMS to provide seamless financial management including automated GL entries, trucking-specific chart of accounts, IFTA tax management, and CFO-grade financial reporting. This integration eliminates duplicate data entry between operations and accounting.


8. Insurance Management Software


Carriers manage multiple insurance policies including liability, cargo, and physical damage coverage. Insurance management tools help track policy renewals, file claims, and compare rates. Most small carriers still rely on spreadsheets or insurance company portals.


9. Spreadsheets


Excel and Google Sheets remain essential for many carriers. They track expenses, analyze lane profitability, model future growth, and consolidate data from multiple systems.


The problem is spreadsheets create operational risk. Manual data entry leads to errors, version control becomes chaotic with multiple users, and critical decisions get made on outdated information. The solution is moving from spreadsheets to a unified TMS that centralizes operational and financial data.


10. Bank Accounts and Payment Systems


Bank accounts handle incoming revenue from customers and factoring companies plus outgoing payments to drivers, fuel vendors, and repair shops. Carriers manage cash flow, track transactions, and process credit card payments through business banking platforms.


Modern TMS platforms provide reconciliation hooks to match payments and bank events automatically, reducing manual accounting work.


11. Equipment Lease and Financing Portals


Most carriers lease or finance equipment through providers like Ryder, Penske, or specialized truck financing companies. Equipment management portals let carriers track lease payments, schedule returns, and manage financing agreements.


Understanding the real costs of running a trucking company requires tracking all equipment-related expenses alongside operational costs.


12. Payroll Management Software


Payroll software like ADP or Paychex automates salary calculations, tax withholding, and payment processing. They handle both W-2 employees and 1099 contractors, which is critical for carriers with a mix of company drivers and owner-operators.


Simplifying driver payroll with automation reduces errors and ensures drivers get paid accurately and on time. Modern TMS platforms handle driver settlement calculations and sync with payroll providers.


13. Factoring Companies


Factoring companies like Triumph, RTS, and OTR Capital provide immediate cash flow by advancing payment on unpaid invoices. They typically advance 90-95% of invoice value within 24 hours and collect payment directly from shippers.


Carriers using integrated factoring connections can submit invoice batches directly from their TMS with validated BOL and POD documentation, accelerating funding and reducing rejection rates.


14. EFS Bill Payment Systems


EFS (Electronic Funds Source) is a payment system designed specifically for transportation. It helps carriers manage expenses including fuel purchases, tolls, permits, and repairs. Drivers use EFS cards to pay for services on the road while the carrier maintains centralized expense control.


15. Specialized Third-Party Tools


Carriers use various specialized tools for specific operational needs. Toll management platforms like TollGuru optimize routes and track toll expenses. Scale integration platforms like CatScale provide digital weight tickets. Permit services handle oversize/overweight permitting. Rate analytics tools help negotiate better shipping rates.


The 5 key challenges in fleet management include integrating these disconnected tools, eliminating duplicate data entry, maintaining data accuracy, getting real-time visibility, and tracking true profitability.


The Problem with Too Many Tools


The average carrier uses 15+ disconnected tools daily. This creates significant operational problems including duplicate data entry across systems, version control issues, expensive monthly subscriptions, training overhead for new staff, and inability to see real-time business performance.


Why your fleet doesn't need 5 tools, just one that works explains how modern carrier-first TMS platforms consolidate essential functions into unified systems.


How Modern Carriers Simplify Their Tech Stack


Leading carriers are consolidating their tool stack by adopting comprehensive TMS platforms that integrate with best-in-class third-party services. Choosing the right TMS software means evaluating integration capabilities, automation features, financial management tools, and scalability.


Datatruck is the carrier-first TMS built to eliminate operational chaos. Our AI-powered platform automates document processing with TruckGPT, handles multi-board load booking, manages driver and broker communication, and provides real-time profitability tracking. See how carriers are scaling faster with unified technology.


Book a free demo and see how Datatruck replaces 15 disconnected tools with one intelligent platform.



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