What is Treasury Management? A Guide for UK Companies Trading Overseas
What is treasury management? Find out in this helpful guide to companies trading overseas.
Finding the most affordable international postage rates can usually mean the difference between a healthy profit margin and taking a loss for a lot of e-commerce businesses conducting cross-border selling.
While we know that product discovery, security and speedy transactions, have made it simpler to get items and packages from all over the world, note that the logistics of getting your products across borders remains complex, expensive, and even overwhelming. Also, keep in mind that when it comes to global logistics, yearly trends indicate that costs increase with monetary inflation, higher cargo loads and higher energy prices.
And this is why it is crucial for cross-border e-commerce sellers to constantly evaluate and assess their shipping partners and their policies to ensure they’re getting the cheapest international postage rates possible.
International e-commerce shipping is essential because of globalization. So, getting in front of a bigger audience presents a massive opportunity for your business. The stats do not lie:
We will discuss international postage rates and also demonstrate how you can save money by using Wise Business when sending and receiving international transfers.
As there are so many country-specific regulations and rules that you need to comply with, make sure that you know how each country or region you ship to is different, especially when it comes to quotas, tariffs, and trade duties.
There is no doubt that you would like your package to arrive at its destination country safe and sound. And if you are using a reliable and dependable courier trusted for their top-quality services, the risk of damage to your package during transit is quite low. Also, it is worth noting that most couriers would offer some type of compensation cover in the unlikely event that your parcel sustains any damage.
Note that where you’re located or shipping from and the country you will ship to will have an effect on delivery timelines. Although some customers will have no problem waiting a while for their parcel or package to arrive, others may need it as early as possible. This is where providing both express and standard international delivery options will help cater to different customers.
You have to remember that exact delivery times can vary considerably across carriers and services. Just make sure that you communicate that to your customers so they choose the most suitable delivery option at checkout.
When sending a package anywhere in the world, make sure that you are not sending any restricted or prohibited goods. Remember that not every item or product can be carried all services – and all countries usually have their own rules, regulations and restrictions.
For instance, a general rule is that you cannot send perishable items and liquids abroad – so make sure that you check your courier’s list of prohibited and restricted items before you book your shipment.
There is no doubt that for many international e-commerce sellers that sell and deliver even a modest number of packages every day, the logistics process may begin to exceed the capabilities of their internal logistics team.
This is why from fulfillment to secure warehousing, finding global shipping and logistics providers that can meet all your needs is crucial to support the growth and expansion of your business.
Courier | Price Range | Time for Delivery | Track Shipment |
---|---|---|---|
DHL (Package less than 5kg) | 3 - 6 working days (VAT Not charged) | Yes, available | |
UPS | 3 - 6 working days (VAT Not charged) | Available | |
TNT | £40.92 | 3 - 6 working days (VAT Not charged) | Available |
Parcel Force | 3 - 6 working days (VAT Not charged) | Available | |
DPD | 3 - 6 working days (VAT Not charged) | Available |
All prices are calculated with a parcel of 35cm X 35cm X 35cm and a weight of 5kg with Spain as the destination.
Courier | Price Range | Time for Delivery | Track Shipment | Express Delivery |
---|---|---|---|---|
DHL (Package less than 5kg)⁴ | 1 working day (VAT Not charged) 1 working day (VAT not Charged) 1 Working day* (VAT not charged)* | Yes, available | Available | |
UPS | 2-day delivery | Available | Available | |
TNT | £84.92 | Regular delivery of 3 to 7 days | Available | Available |
Parcel Force | Regular delivery of 5 - 8 days |
All prices are calculated with a parcel of 35cm X 35cm X 35cm and a weight of 5kg.
Courier | Price Range | Time for Delivery | Track Shipment |
---|---|---|---|
Landmark | 3 - 6 working days (VAT Not charged) | Available | |
UPS | 1 -2 working days (VAT Not charged) | Available | |
Collect+ International | Dropped of their pickup point - £90.33 | 8 -13 working days (VAT Not charged) | Available |
Parcel Force | 3 - 6 working days (VAT Not charged) | Available | |
DPD | 3 - 6 working days (VAT Not charged) | Available |
All prices are calculated with a parcel of 35cm X 35cm X 35cm and a weight of 5kg with Australia as the destination.
Here are the ways you can save money using Wise:
Wise never hides extra fees and charges in its exchange rate. On the other hand, some banks charge exchange rate mark-up, which is why they are not the best option for sending and receiving international transfers. The company uses the exchange rate that is independently provided by Reuters. And this means fair, transparent and low-cost transfers for your business, every time.
Here are some additional benefits of using Wise:
Summary
Running an online business and having an effective international strategy for your e-commerce business go hand in hand. However, selling across borders can be tricky and challenging. It can also be costly for many businesses. That is why it is important to negotiate the best international postage rates. When shipping internationally, you will have to deal with duties, customs, and additional taxes that tend to vary across different countries.
Also, it is crucial to account for the whole customer experience, not only offering the most affordable international shipping possible. To ensure a quick and smooth delivery, make sure that you have a comprehensive understanding and knowledge of how it all works.
Want to earn extra revenue? Join the Wise affiliate program and receive commission for recommending Wise to other online sellers. |
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**Sources **
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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