September 19, 2022

How to automate export declaration form with AI ?

Automating the processing of export declaration forms with IDP can be time and cost-saver. Learn more details on how to get an automated IDP platform for your business.

An export declaration form is a document you must fill out when you want to export goods. There are different forms depending on the items you want to export. The form must contain all the pertinent information about the goods you intend to export and how you obtained them.

The form must also include information about the destination of the goods and the intended recipient. It helps customs officials know what they are dealing with when they receive an incoming shipment from abroad.

If your finance department deals with processing a lot of these export declaration forms manually, they would know how tedious it is. This article looks at how you can automate the entire activity of processing export declaration forms with the help of IDP (intelligent document processing) technology.

Components of an Export Declaration Form

Here are some components you would come across when dealing with an export declaration form.

• Form number

• Nature of cargo

• Shipping bill number and date

• Mode of transport

• Exporter category

• AD (Authorized Dealer) code 

• IE (Importer-Exporter) code

• Exporter’s name and address

• AD name and address

• Consignee’s name and address

• Mode of realization

• Bank details

• Country of destination

• Port of discharge

• State of origin of goods

• General commodity description

Traditional Means of Processing Export Declaration Form

Manual processing of export declaration forms is a task you will want to avoid at all costs. The reason why? It is tedious, time-consuming, and prone to errors. Your finance team needs various documents required for processing an export declaration form. It may include invoices, waybills, packing lists, certificates of origin, etc.

After collecting all the necessary documents, it is time for your finance team to go through each form and its associated fields. As we have seen above, an export declaration form can have several fields and extracting information from them manually can be a tiring and error-prone activity. This activity also doesn’t contribute anything to your business.

Need of Automation for Processing Export Declaration Forms

When you export goods, you need to fill out a form that includes information about your product, the shipping provider, and the recipient. This process can be time-consuming and tedious, especially if you have to do it multiple times.

Automation helps you save time by doing repetitive tasks. For example, if you're exporting products from your country to another, several recurring tasks need to be completed every time you do it. Automation can help with these tasks by completing them automatically so that all you have to do is verify them and then approve their completion. 

It saves time as you do not have to sit around waiting for something to happen when it should already be done. In addition, automation also helps with other activities like tracking progress reports and meeting deadlines, which ensures everything gets done on time without any delays or issues arising later. Such delays can lead to bigger problems down the line if not handled right away.

How IDP helps Automate the Processing of Export Declaration Forms

The process of handling export declaration forms can be a logistical nightmare. Not only do you have to deal with the sheer number of documents, but they also have to be processed in a specific way.

IDP (Intelligent Document Processing) helps automate the processing of export declaration forms by providing a single, unified platform. It allows you to process export declaration forms without worrying about the tedious tasks related to manual data entry.

The system decodes and deciphers the information to extract relevant data and send it for further processing. Modern IDP systems use OCR (optical character recognition) and AI and ML-based algorithms that make them powerful tools to automate document processing activity. IDP will also allow you to reduce costs by eliminating expensive staff and infrastructure investments. 

You can also expect increased efficiency by automating processes like document scanning and indexing. It will improve customer satisfaction by reducing errors in data entry and speeding up the delivery time. 

Besides, you can also expect improved financial performance through increased productivity levels among employees. They can focus on other critical tasks instead of spending hours entering data into systems every day.

Benefits of Document Automation for your Business

The benefits of automating document processing with IDP are endless.

• You will save time and money by not having to hire a team of people to handle the tedious process of document processing. You can also save on other costs like rent and utilities by streamlining your office space.

• IDP saves time for your employees because they won't have to spend hours processing documents anymore—they can focus on other tasks that need their attention.

• IDP helps you avoid human error when it comes to filing critical details from documents. These errors, if left unnoticed, can cost you in the long run. You may receive complaints from your customers, and your team will have to spend a lot of time correcting those errors.

Things to Keep in mind When Considering an IDP Solution for your Business

When you're looking for an IDP software, here are a few things to keep in mind.

• Ensure that the IDP platform can handle all your documents. Besides export declaration forms, it should also support invoices, receipts, and everything related to your business. You want to ensure that the software also handles documents in various formats, whether physical or digital.

• Look for an easy-to-use interface. If it's difficult to use and won't help you get your job done more efficiently, then what's the point? 

• Look at the price tag and ensure it fits within your budget. There's no point in spending money on something if you don't have enough cash on hand right now. So ensure that you take into account how much money is being charged per month before signing up. You can also look for no-commitment deals that allow you to test the software and pay only when you get the results.

Leverage VisionERA to Automate the Processing of Export Declaration Forms

It’s time to say goodbye to tedious and error-prone methods of processing export declaration forms. VisionERA is an advanced IDP platform that allows you to seamlessly process documents of any type and size at scale. Powered by advanced AI and ML algorithms, VisionERA has been trained on real-life documents.

The platform remains empowered to provide increased accuracy and minimal processing time. When you digitize the entire process, your finance team will get more time to look into other critical areas of the process that need more time.

VisionERA comes with advanced algorithms that help process documents 20x faster. The unmatched power of automation will also help your finance teams experience increased productivity. Moreover, you need to pay only when you start achieving the desired business results. Till then, you will only receive $0 invoices. We bet it can’t get any better than this.

So, what are you waiting for? Contact us today to know more details on how VisionERA can help you automate the processing of export declaration forms.

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