50% of British goods exporters are struggling under the Brexit trade agreement.British Chambers of Commerce
According to a survey by the British Chambers of Commerce, the Brexit trade deal is causing significant problems and adding costs for most manufacturers and other goods exporters. Research by the BBC showed that companies face difficulties due to increased administration, costs, delays, and confusion about the rules. The late deal has left businesses with very little time to prepare for the new regulations putting them in a difficult position.
With many businesses now having to supply almost double the amount of paperwork, there has been a negative impact on time, costs, and resources. Even with an efficient process in place, organisations still have to collate, verify, approve, file and print documents for every shipment. Any errors in paperwork could result in delays at customs, damaging customer relationships and business reputation.
An increase in paperwork also means more space is needed to store it. This could be as simple as buying some more filing cabinets, or it could mean renting extra storage space. Either way, it’s another cost to the business.
So, how can a Document Management system help?
A Document Management system helps you take control and manage your documents. It provides a secure way to create, file, retrieve and share your business-critical paperwork. All files are saved with metadata. With various smart search functions to choose from (for example – reference number, order number, customer name, product type), you can find the documents you need in seconds. The version control feature ensures users are always working with the latest version of a file. Permissions can be set, allowing users to access and edit selected documents only for increased security. Audit trails are automatically generated to log every action performed by a user to a particular file, improving visibility and compliance.
If you work with a Customs Agent to complete your Customs Declarations, you can quickly and securely share files with them using a digital intray, ideal if they are working remotely. Having documents in a digital format makes it easier for agents to upload them to HMRC systems. They can also store details/receipts of any associated payments such as import duties, VAT, excise duty, in your Document Management system.
Businesses can also integrate a Document Management system with existing systems to improve information flow and reduce manual data entry.
Managing post-delivery documents
Once export documents have been approved during shipment and delivery, they can be ‘captured’ or scanned and filed into the Document Management system. The original paper files no longer need to be retained and can be securely destroyed, freeing up valuable space.
As many as 20% of parcels have incorrect information attached, causing issues and delays at the border.DPD
Taking it further with Workflow and Automation
Handling export paperwork can also greatly benefit from intelligent automation and workflow. Automating as much of the process as possible reduces human touchpoints and errors, such as missing information, assigning an incorrect export code, and incorrect delivery details. Businesses can automate processes including filling in customs forms, providing digital documents to drivers and courier companies, filing completed documents in the Document Management system.
Businesses can use intelligent workflows to collate the correct documents depending on the country goods are shipped to, send documents and notifications to the right person or department, and more.
A Cost-Effective Solution For The Whole Business
A Document Management system is much more cost-effective than hiring additional staff to deal with administration. The scalable system can be used to store and manage documentation throughout your entire business and is commonly used in Sales, Marketing, HR, Payroll, and Accounts departments. Utilising a Document Management system will save time, reduce costs, increase productivity, and improve document access and compliance. With a typical ROI of within three months, you’ll wonder how you ever managed without one.
If managing export paperwork is a challenge for your business, and you would like to find out how easy it is to implement Document Management in your business, get in touch with Jack Wright on 01285 810606 or email firstname.lastname@example.org and find out how YourDMS can help.