What are electronic trade documents?
The world is seeing a vast increase in the volume of international trade and traditional paper based systems are becoming too slow and costly to manage the ever growing amount of trade transactions.
It is estimated that between 5 and 10% of the value of world trade is in the cost of the printing and exchange of paper forms. Goods arriving before the paperwork is a common occurrence, resulting in delays of the delivery of goods.
The use of electronic trade documents stored in an electronic document management system allows customers to download international shipment documentation, save and re-use it and at the same time reduces the need to print and sign multiple copies. This enables the shipping company to review the documentation prior to the shipment being collected by the courier.
Other benefits include substantially reduced costs of paper and printing, earlier release of goods, more accurate compilation of trade statistics and faster collection of payments.
The IPC Group has experience of working with shipping companies and converting trade transactions to electronic format. For further information please call 08081 45 46 47.