The continued use of manual ticketing processes is a legacy pain point for dump truck fleets that TruckIT and Bolton Capital, a financial services firm specializing in freight factoring for the construction supply chain, have partnered on to provide a solution.

Lengthy Delays in Receiving Payment

The National Dump Truck Association (NDTA) has revealed that many dump truck haulers are facing accounts receivable timelines stretching as long as 60 to 70 days. 

The U.S. dump truck services segment, which includes hauling materials such as gravel, demolition debris, and waste, was estimated to be approximately $30 billion in 2024. The NDTA expects these numbers to rise significantly with the passage of H.R. 1, which significantly increases domestic investment in infrastructure, defense, energy, and other areas.

“The dump truck industry is highly fragmented, and operators are looking for support. We need healthy companies with the flexibility to take on any kind of project without concern for variable accounts receivable timelines,” said Malcolm Smith, founder and chief executive officer, NDTA.

Addressing Payment Delays for Dump Truck Fleets

To address this persistent problem, TruckIT, a leading digital platform for bulk hauling logistics, has initiated a program in collaboration with Bolton Capital.

This collaboration enables haulers to bypass long receivable cycles and access same-day funding. 

By integrating Bolton Capital’s rapid payment capabilities with TruckIT’s advanced digital platform, users can now experience a seamless transition from job completion to cash in the bank. TruckIT users simply submit their invoices via the platform, and Bolton’s ticket-matching technology ensures instant verification and payment.

Accession Distribution, based in Riverdale, Georgia, was among the first hauling companies to take advantage of the TruckIT/Bolton partnership.

“Getting funded as fast as within four to five hours has given us enormous flexibility and freedom,” said Juanita Marry, founder, president, and chief executive officer at Accession Distribution. “The support has also helped us sign new business, both due to the dispatch and ticketing visibility from TruckIT and offering better billing terms to customers due to the support from Bolton. I highly recommend that any hauler get on board as soon as possible.”

The integrated solution allows haulers to upload completed job tickets through the TruckIT platform, where Bolton Capital’s technology automatically verifies and processes payments. This streamlined workflow replaces the typical manual paperwork and waiting periods with near-instant funding.

“We understand the unique challenges that dump truck operators face, specifically around cash flow and growth,” said Douglas Lindsay, co-founder and managing partner, Bolton Capital. “This partnership allows us to go beyond software and deliver working capital directly into the hands of our customers. Bolton and TruckIT are committed to helping our customers improve operational efficiency, invest in new assets, and maintain great relationships with their subcontractors.”