This article was published on: 10/07/20 2:42 PM
Know how Automating Export documentation can save significant time and resources
Business automation has become a must-have for any organisation that wants to be future-ready. The future is technology. Automation is the only respite for achieving desired goals within the timeline for any company. Export industry is a notch ahead of any other industry. Dealing with overseas clients with different languages and cultures, rules and regulations, currency and conversions etc involves a lot of brain racking work. Export documentations is the most difficult task to sort so that no legalities are missed which can end up the company owner behind bars. A best fit ERP cloud software can solve most of these challenges faced by an export company. Expand ERP is India’s best fit ERP solution for manufacturers in the Export industry. It is the best ERP company in Kolkata with Headquarters in Bangalore.
Every export taking place in the company goes through defined steps of documentation like invoice, packing list, bill of exchange, shipping bill etc. Whether you are in an exporting business or someone who uses exporting services, you know that there can be a lot of paperwork involved. There is a lot of paperwork that can often seem endless and repetitive.
Instead of performing repeatedly the same tasks, it should be a simple set of few button clicks automating Export documentation to complete. Here we have taken the example of export documentation but in business no matter how simple or complex a task, if it is repetitive then it should be automated to save time and eliminate the possibility of error. For example every invoice generated should be emailed to the customer; every dispatch should be emailed to the customer and a group of seniors. These are examples of simple tasks but there are numerous possibilities of errors. Even if it is done without error it is highly possible that every email is in a different format. Such automation involves time and money but once done properly, it has huge advantages like Performance and Efficiency, Consistency and error free (Same standard professional output and no errors no corrections), Easy for anyone to learn and get going.
– Exporters have reduced rework due to errors by 75%. Man hours spent for documentation have reduced by 60% and output is now more professional and reliable with EXPAND ERP for exporters.
Counter Export challenges with Expand ERP software – best ERP company in Kolkata :
Export houses depend on effective export control processes throughout their supply chain. The legal ramifications of violating export laws can be a huge challenge. Freight forwarder, customs broker, sea vessels crew, warehouse management all these can be simply managed by single export business software. To supply the highly competitive order shipments, freight exceeds in volumes of sales and profits, you need an ERP.
3 Reasons why Exporters need a best fit ERP software
- Financial reporting accuracy – all invoicing and purchase orders can be consolidated and kept track of through erp.
- Enhances speed and agility – ability to respond faster to customer needs and deliver service promptly.
- Details of shipment – and ERP scheduling application is crucial for optimising work hours and properly utilising resources. This will allow tracking of order details anytime, anywhere.
Every export company should own 2 things:
- An export compliance program.
- Export documentation software that standardises the export paperwork.
Export documentation is required for goods leaving one country for another to ensure a variety of things.
- Ensure proper taxation and dues are accounted for
- Ensuring products don’t land in the hands of people banned from receiving goods
- Ensure public and environment safety
Export documentation keeps those who export within the bounds of export compliance.
Common compliance issues are:
- Consistent problems with errors or omissions on documentation
- Not obtaining specific approvals or licenses for special items (guns/weapons, medications, animals, plants, etc.)
- Shipping goods to restricted destinations
- Shipping goods to a person or business already on the restricted parties or denied persons list
EXPORT REQUIREMENTS AND REGULATIONS
Requirements and regulations can vary by country. These can be set by the Indian government or the destination country for a multitude of reasons. It’s up to the exporter to ensure that all requirements and regulations are followed prior to shipment to make sure all documentation is in order.
Common documents include a Commercial Invoice, Packing List, Certificate of Origin, and Shipper’s Letter of Instruction to the Freight Forwarder. There could also be product-specific or country-specific documents.
One of the features within Expand ERP is the Requirements Guide. As a user, this is your manual to navigate through creating and managing export documents to ensure compliance between India and the destination country.
Restricted Parties denied screening:
If you’re exporting, you need to know who you’re shipping to and make sure that they aren’t on a government list somewhere that says they aren’t allowed to receive goods for one reason or another.
Reasons can vary, but the ultimate result is to comply and not provide them with goods because of any restrictions they may be under.
Benefits of Expand ERP – the best fit ERP company in Kolkata for Export industry:
- Timely export order entries into the system has allowed companies to plan out their production or procurement activities well in advance.
- Single system for everything export – documentation, post shipment and financial accounting. Companies do not have to manage separate spreadsheets for various activities
- Flexibility to validate accounting entries with exchange rate present in the Shipping Bill have ensured company accountants to book the exact value of export sales
- Auto-computation of fluctuation due to difference in exchange rate’, has reduced significant amounts of time spent on manually calculating the exchange rate and entering it into the system.
- Tracking of the various export incentives with their values has also become easier since they are being entered as additional information in the shipping bills section.
- Packing credit availed and it’s utilisation along with balances and interest has become easier to track as they are being tagged with the realisation or discounting of bills
- Shipment and post shipment statuses such as goods under dispatch, goods in transit come from the ERP itself since various dates such as B/L Date, LR Date, LEO Date are being entered by the customers.
- Remittance statuses such as documents being sent to the bank, pending negotiation and realization pending are available from the system itself.
Various KPIs, BI and MIS available for the management so that they can take quick and effective decisions.
If you are in search of the best ERP software in Kolkata for your export industry, Expand ERP is fully equipped to deliver the best solution for your complex business process. Further the software is intuitive and can easily be used by anyone with basic computer knowledge. Its user-friendly interface makes things easier for one and all. Also you need not worry about capex and infrastructure investment as it is cloud-based. Expand ERP provides a solution with over a decade of knowledge and research to process all export documentations and financials with ease.Schedule a demo with us to find out more details or call at… 9007026542