Desktop shipping solutions help banks balance the opposing demands
of delivering great customer service and controlling logistics
costs. In this QAD Precision Report, we offer tips for choosing the
We live in a world where you can pay for your groceries using an app
on your phone or smartwatch. Our money may be digitized, but our banks
and financial institutions run on paperwork. There is a good reason
for this. In many parts of the world, the law requires customers to
physically sign important financial documents, such as credit
contracts and loan applications. Consequently, banks generate a lot of
documentation, and parcel shipping plays a key role in the financial
Moving packages efficiently has always been a high priority for banks
and financial services firms. They have a mission-critical need to
move contracts, agreements and other documents between branches, to
customers and to third parties. The cost of sending out millions of
documents from hundreds — or thousands — of locations can quickly add
up. For a large financial services firm, these types of shipments
might cost millions of dollars over the course of a year.
Banking staff are not professional shippers. Desktop
shipping software addresses this by providing staff with needed
carrier parcel shipping, export
trade compliance and global documentation. Using a simple
walk-up interface, desktop shipping allows users to become
self-sufficient in carrier rate and service selection, generating
carrier compliant labeling, managing restricted
party screening, and generating the necessary shipping documents
for international shipments.
Selecting Desktop Shipping Software
Selecting software to transform a business process is like using a
map — you need to know where you are starting from and where you want
to go. Therefore, you need a solid understanding of current processes
as well as a clear picture of what you want those to be in the future.
There is much to consider when selecting any software intended to
transform a complex business process like shipping. The following five
steps can help you obtain the best results.
STEP 1: REVIEW CURRENT PROCESS
Start with a review of current processes to identify what your
organization does well when it comes to parcel shipping, and where
there is room for improvement. Ordinarily, the larger an organization
is, the more likely it is that there isn’t a single clear-cut process
for shipping documents — particularly if the bank has locations across
many different countries. Some locations may rely mainly on one
carrier, while others prefer a different one. Similarly, some
locations may overnight shipments as standard, while others send
mainly by ground.
Knowing how different locations manage parcel shipping will help you
to determine where you have room to streamline and improve. In
addition, you may find that you’re spending more on parcel shipping
than you first thought. Furthermore, you may uncover that some
locations use processes that are not always in accordance with
organizational and regulatory policy.
STEP 2: DETERMINE DESIRED END STATE
Once you know what is happening with your shipping operations, you’ll
need to determine what you’d like those processes to look like in the
future. What are the goals for implementing a desktop shipping
solution? What problems do you need to address? Are you looking to
reduce costs? Streamline operations? Do you need a better handle on
your international shipping and bring your organization into
compliance with local and international regulations?
STEP 3: EVALUATE YOUR INFRASTRUCTURE
Implementing any type of software requires infrastructure to support
that software. Does the software need to integrate with other systems?
How will upgrades and maintenance be handled? One advantage of
implementing a cloud-based
shipping solution is that the overall technical footprint of the
implementation itself is much smaller, and ongoing maintenance is much
easier because the vendor manages updates and pushes them out to the users.
STEP 4: CONSIDER PROJECT PLANNING AND CHANGE MANAGEMENT
Any software implementation requires a significant planning effort.
Accordingly, you should develop a rough estimate of the human effort
and cost required to implement before making a decision in order to
reduce surprises. The preliminary project plan will depend on what
type of implementation you’re doing, whether cloud-based or in-house.
A cloud-based implementation is usually fairly straightforward. As a
result, you can have your shipping software ready for roll-out very quickly.
A bigger challenge typically exists around change management. The
fewer policies and processes you had prior to implementing the
solution, the more you’ll need to educate and inform your users about
the new system and the benefits it will bring. Therefore, you may want
to consider these during the selection process, as they may impact
STEP 5: IDENTIFY AND TRACK KPIS
The success of any software project depends on delivering the
business results that you identified for improvement during the
selection process. As part of the selection process, you’ll want to
develop a matrix of the hoped-for business improvements and use that
to compare your options across all the selection criteria. After
implementation, you can use KPIs to track these hoped-for
improvements. This will demonstrate how well your organization is
meeting the key business objectives you’ve laid out.
What to Look for in Desktop Shipping Software
Desktop shipping software can provide significant benefits. Here we
discuss some of the most compelling.
A comprehensive desktop shipping solution provides visibility into
the cost and efficiency of your parcel shipping operations. For banks
and financial institutions, this allows you to control spending and
improve performance of shipping operations. With multi
carrier desktop shipping, users can easily determine which
carriers can move a parcel or batch of parcels to a particular
destination at the lowest cost. Furthermore, managers can determine
which carrier offers the best pricing for each shipment or the best
on-time delivery performance, or lowest risk of loss or theft, and
develop policies that will lower transportation and logistics costs at
the branch, corporate and global level.
RESTRICTED PARTY SCREENING
Banks and financial institutions must demonstrate that they aren’t
doing business with governments, organizations and individuals that
are under governmental or international sanctions. This includes
those who are connected with terrorism or drug trafficking, and
sanctioned government. Your desktop shipping solution should ideally
party screening. This will ensure that parcels and packages
aren’t delivered to anyone whose name appears on these lists.
TRADE COMPLIANCE AND IMPORT REGULATIONS
Every nation has its own import and export requirements; for global
banks and financial institutions working internationally, it can be
challenging to ensure that every shipment that crosses borders is in
compliance with these regulations. Desktop shipping software for banks
and financial institutions should help to enable
these cross border shipments and reduce the likelihood of loss
or delays by monitoring changes to these regulations and lists to
ensure that each shipment meets requirements.
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