Whether you are an organization involved in exporting business or someone who uses exporting services, you know that there can be a lot of paperwork involved in an export process. A lot of this paperwork is often endless and can be of a repetitive nature.
Most of the documents involved in the export process are more or less the same, however, certain goods or items may require special licensing, paperwork, and approvals before they can be exported to their destination. 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 which are used in an export process 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.
India’s exports of goods and services as a percentage of GDP are 18.43% and imports of goods and services as a percentage of GDP is 20.96%.
There are majorly 4 perspectives involved in an export process, which are as follows:
1. INCENTIVES: In order to claim any government assistance or support your export documentation should be in compliance with the guidelines laid down by the government of the country. There is a variable type of financial assistance given to the exporters by the government to earn foreign exchange and aid in the growth of the GDP of the country. These export incentives may include regulatory legal monetary or tax programs that are designed to encourage businesses to export certain types of goods or services.
The schemes may also provide incentives to exporters in the form of duly credit scrips to refund losses on pay duties. The MEIS scheme introduced by the government is one such incentive that is given to the exporters at a specified rate. An effective software for exporters will always keep a check on the documents for being compliant as according to the policies of the country.
2. COMMERCIAL: The discussions between the buyer and the seller, in the case of export, is normally sealed by a contract that includes all the terms and conditions the exporter and importer should follow. All the important documents such as invoice packing list certificate of origin insurance and bill of exchange are then created on the basis of this contract.
An effective software for exporters for example Sky ERP Export Plus, helps the exporters to create maintain and organize these important documents in one single platform.
3. LEGAL: Every country may have a separate body that acts as an authority to control the import and export of the said country’s trade. In India, the foreign exchange management act is one such legal Authority that enlists all the guidelines which have to be followed by all the exporters residing in the country. The government, through these regulatory bodies, layout its own rules and instructions related to the export documentation, and this documentation must be in compliance with the legalities.
An organization that is using software for exporters and manages the export documentation is through the software is always in compliance with the legalities of the country as the software is developed and upgraded according to the changing regulations of the country.
4. MANAGERIAL: Export management includes the management of all marketing activities as well as export documentation for the products which are exported across the country. Sky ERP exports plus export document management software simplify in the creation of export sales and export documents which are used in the global supply chains.
With the correct Export Document Management, the organization can benefit not only in terms of profits but in terms of time and efficiency.
Get Free Demo Consultation with EverexInfotech for Sky ERP Export Plus software.
To know more contact us: +912242264444
Or visit: https://everexinfotech.com