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Blog » Grow your Business by Outsource Bill of Lading Services

Grow your Business by Outsource Bill of Lading Services

Last updated: 05 Mar, 2024 By | 6 Minutes Read

Outsource Bill of Lading

The Bill of Lading was an important document in international commerce when trade took to the high seas. It all begins with proof of shipment. It has been evolving into a document of billions of dollars, pledging every day. This is because you can negotiate between two parties after shipment without waiting for the goods to reach the destination.

It is possible because a Bill of Lading is an irrevocable proof of shipment. It is a three-way instrument of faith between the exporter, the shipper, and the importer. Once you prepare the Bill of Lading, the importer’s banks will even pay the exporter an invoice value. This will ensure that there is no blocking of capital for the duration the goods are in transit. In fact, you can consider the Bill of Lading and its flexible characteristics, contributing to a flourishing global trade scenario.

Given its importance, it is definitely beneficial to outsource a Bill of Lading for the exponential growth of business.

As an exporter, what are the advantages that you will get by adopting this course of action –

1. Being able to focus on core activities

The preparation of the Bill of Lading can shift your focus from the important tasks at hand. It involves negotiating deals with importers for your products and manufacturing and readying them for shipment. This will naturally affect your core activity and adversely impact business development.

2. Eliminating errors in Bill of Lading

There is no doubt that a Bill of Lading is a very complex document. It is accurate and fully error-free for it to have some meaning and be negotiable in the international financial markets. The slightest deviation from these stringent standards will render it null and void, negating the value of the goods involved. As an exporter, you will have professional expertise and knowledge in your area of operation, which will surely not include documentation and preparation of this document. Outsource a Bill of Lading, and you can be sure that it will be good for any form of transactions and negotiations.

3. Having a customized Bill of Lading

While it is true that the format of a Bill of Lading is standard, with common key fields tailored to meet the specific needs of the carrier and consignee, it is crucial for the scheduling of shipment and smooth delivery. Trying to process it yourself will leave the doors open for inaccuracies to creep in, thereby jeopardizing the shipment and, by default, affecting your business. Let the professionals with in-depth knowledge in this field take care of the finalization of your Bill of Lading.

In a nutshell, then, your decision to outsource a Bill of Lading will favorably affect your business growth because there will be an accurate and speedy preparation of the document, thereby reducing freight payment cycles. This will result in a quick financial settlement of the goods bought from you, easing your demand for working capital requirements.

Outsourcing firms that Bill of Lading processing have a team of professionals working on advanced systems, taking into account the finer nuances pertaining to individual shippers. You can categorize it further as follows –

  • You have to fill up the basic fields with data about the goods that you want to ship and share with your outsourcing partner.

  • Experts will extract all data necessary for the preparation of the document. These include a detailed description of the consignment and that of the consignee as well as the shipper.

  • The data so culled is entered into the system and scrutinized for any errors.

  • The final digitized document is then uploaded back to you correctly in every respect.

  • The electronic Bill of Lading is the current avatar of the traditional format and has provision for digital signatures for all concerned parties, thereby speeding up its preparation.

It is thus seen that by simply outsourcing Bill of Lading services; you can facilitate your business growth and development through quick financial turnarounds.