LuitBiz For Cargo & Freight Industry

Commercial Invoice Documentation Management for Commercial Shipping

The Importance of Managing Commercial Invoices in the Cargo & Freight Industry

Among all ocean freight shipping documents, the commercial invoice is arguably the most important because it serves as the final "bill" between the seller (your company, also known as the exporter) and the buyer (your customer, also known as the importer). It is, in other words, the most final and most official record of the transaction. Additionally, it is the freight shipping form that is used by global customs authorities to review a shipment and catalogs all of the key information points (like the merchandise included in the freight shipment, the identifying information for both the importer and the exporter, the taxable price of the merchandise included in the shipment, and other itemized charges like insurance and shipping or freight fees) about a freight shipment. When customs officials are able to review all of this information, it expedites the process of assessing customs duties and taxes, inspecting the shipment and recording trade statistics.

A commercial invoice usually includes the following information:

  • * Basic shipper and receiver information
  • * Specifics regarding the date and terms of sale
  • * Quantity, weight or volume of items in the shipment
  • * Description of the goods
  • * Description of the packaging
  • * Per-unit value and total value
  • * Insurance cost and shipping charges

What happens when commercial invoices are not managed properly

Inadequately filled export documents

Commercial invoices must include a great deal of information, and it all must be completely accurate, from the importer’s name, address, and contact information to details (including descriptions, country of manufacture, serial numbers, and reason for import or export) about the merchandise included in the shipment.If you send out a freight shipment with an incomplete or inaccurate commercial invoice, you risk customs fines for not having the correct documents or even return-to-sender problems that further delay your shipping.

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Another hassle faced by cargo & freight companies is the inability to find the right commercial invoice form when it’s time to export a freight shipment. Maybe you have the form, but your filing system for organizing details about your product inventory and your importers is a mess. These situations can bring about big problems for your company. If you can’t find the right freight shipping forms (or the information required on those forms), you risk delays in shipping and dwindling customer satisfaction ratings.

The benefits of LuitBiz DMS in managing Commercial Invoices

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Going Paperless: Managing several hundreds or even thousands of commercial invoices and other documentation in filling cabinets and drawers can be overwhelming. This can have a negative effect on productivity as filing cabinets take up valuable space and can result in unnecessary clutter. This leads to decreased employee productivity & reduced efficiency as retrieval of files becomes increasingly difficult. By adopting a paperless approach with LuitBiz DMS, cargo & freight companies can eliminate the manual handling of commercial invoices and other documents and reduce costs, overheads, risks and delays.

Cloud Software For Small Business

Access from Any where, Any time, Any device: Commercial invoices are one of the most important documents for a cargo & freight company. These need to be accessed at the right time by the right person to avoid bottlenecks in the shipping process. LuitBiz DMS is completely responsive and fits all device sizes. It can be accessed from anywhere, anytime using any device connected to the Internet without downloading any mobile apps or web clients. This helps the right users have access to the right documents to make the right decision, avoid fines & penalties and ensure compliance.

Easy Search and retrieval Of Commercial Invoices

Easy Search & Retrieval Of Commercial Invoices & Related Information: When it comes to assembling the kind of commercial invoices that will pass scrutiny at customs, you need to be able to access form templates, buyer information, and details about product inventory - like serial numbers and countries of manufacture - quickly and easily. With the custom document tagging & user defined search feature, LuitBiz DMS is perfect for organizing all of the resources you need for commercial invoices making them available anywhere, so long as the person trying to access them has the necessary access permissions.

With LuitBiz DMS you can turn the once complex and convoluted process of commercial invoicing into a quick and easy task. The result is fewer shipping delays, fewer customs problems, and greater customer satisfaction. Sound good? Go ahead and try out a free 15 day trial version of LuitBiz DMS by clicking on the link "Start My Free Trial" below.

LuitBiz Effortlessly manages all business information in the Cargo & Freight industry

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