PRODUCTS OF INFOSYS

Products and Platforms

Our products and platforms provide a holistic and integrated transformation approach, complete with solutions and services.

• Finacle
• Flypp
• Infosys HIMI
• Infosys iEngage
• Infosys iProwe
• Infosys MaskIT
• Infosys mConnect
• Infosys Research On Demand
• Infosys Unified Communications and Collaboration (UC)
• iTransform
• Supply Chain Visibility

INFOSYS PRODUCT AND PLATFORMS

                                             INFOSYS MCONNECT


Flat World companies can retain existing customers and acquire new customers by empowering their mobile workforce and customers with real-time information.
Mobile enablement helps you reach out and interact with customers in real-time. In addition, it boosts your workforce productivity and reduces transaction costs and time. However, mobile deployment poses challenges such as device and browser diversity, ever-changing wireless technology and multiple implementation issues.
Infosys mConnect is a context-aware, real-time enterprise middleware that enables mobile services for websites and eCommerce platforms. Based on a patent-pending mobile technology, Infosys mConnect seamlessly integrates evolving technologies, new devices and information delivery channels.
Infosys mConnect is versatile and caters to the diverse needs of enterprises in B2B, B2C and B2E segments. With Infosys mConnect, you can deliver a superior user-experience without additional costs and resources. It does not require maintenance during deployment or upgradation as technology evolves.
The benefits of Infosys mConnect include:

• Accelerated enablement of website functionality on mobile devices
• New devices do not require upgrades
• Little or no maintenance
• Leveraging a new channel for increased business, improved customer service and improved employee communication
• Lower cost of mobile enablement, maintenance and support

Download Infosys mConnect success stories
Features
Channel-independent and non-intrusive integration layer
Infosys mConnect is designed to abstract the application or business process from the nuances of the channels through which the content is consumed. Once integrated, applications can be extended across channels without further effort. It also supports multi-channel interactions.
Context detection engine
Infosys mConnect's context recognition engine executes tasks on a real-time basis. It continuously monitors the context in which the access is made and makes the context model available for the rest of the application to act upon. The context model is extensible.
Real-time user interface generation
Transaction interfaces can be generated in real-time, based on the context and specific application functionality requested. This is optimized for each access.
Infosys mConnect also separates the specifics of the presentation technology from information to be presented to the end-user. The technology supports evolutionary upgrade of the user experience retrospectively on an existing application.
Application rule engine
Infosys mConnect enables customization of the user experience without expending effort to revise codes. For example, certain transactions can be selectively enabled or disabled based on security vulnerability of the recipient mobile device.
Mobile multi-mode adaption
Infosys mConnect abstracts the specific mode of mobile access from application functionality. An application, once integrated with Infosys mConnect, can be consumed across modes - thin client, downloadable clients, interactive voice response and other modes such as widgets. Independent development effort need not be expended for deployment of service through a specific mode.
Benefits
Robust inclusivity framework
Infosys mConnect addresses the challenges posed by the multiplicity of form factors and access mechanisms on multiple devices to provide a context-sensitive view to the transaction server. It enables enterprises to include various customer segments through the mobile channel. The framework overcomes the complexities of diverse location and dissimilar mobile devices.
Rich customer experience
Infosys mConnect renders context-relevant workflows to enrich the customer experience. Intelligent services rendering with sensitivity to network bandwidth, device type and browser ensures an optimal user experience
Quick mobile enablement of services
Infosys mConnect facilitates a non-intrusive extension of services to the mobile world, with no changes to back-end applications. It enables enterprises to reduce time-to-market for their mobile-enabled services, adopting either the incremental or one-time-deployment approach.
Increased Return on Investment
Infosys mConnect offers enterprises the advantages of reduced integration by leveraging common interface messages, and maintenance and deployment costs. It translates into significant cost savings ensuring companies do not have to compromise on features or the range of devices supported.

Printing from the Cloud

Printing from the Cloud

Summary

Printing documents via the cloud may seem complicated or even unrealistic at first glance. However, in a business world where printing remains a widespread necessity, cloud printing solutions can provide simplicity, cost savings and a means to address the needs of an increasingly mobile workforce – and many business users already rely successfully on cloud printing, without even realizing it.
Doc has his head in the clouds quite a bit these days, and sometimes I need to print from there. Increasingly, cloud computing is taking hold in corporate America, but adding easy printing capabilities from the cloud is not all that easy. So this article from Henning Volkmer caught my eye as it gives a comprehensive overview of cloud printing.

Printing documents via the cloud may seem complicated or even unrealistic at first glance. However, in a business world where printing remains a widespread necessity, cloud printing solutions can provide simplicity, cost savings and a means to address the needs of an increasingly mobile workforce – and many business users already rely successfully on cloud printing, without even realizing it.
With the growth of cloud-based computing, it is becoming more relevant for businesses to facilitate printing in the office through a cloud-based printing system.  This will improve print management, resulting in more cost savings. One common obstacle administrators face is devices that either do not have printing capability themselves or for which network admins have restricted printing.  For security reasons, the majority of corporate users have restricted or disabled administration rights on laptops, forbidding any printer driver installation when connecting to new networks with unknown printers. If a user wants to print at his home office with a newly-acquired printer, he is dependent on his IT administrator to enable that. Even though this may be possible when using a PC, a growing number of devices such as the iPad, smartphones and netbooks using the Google Chrome OS either have no printing capabilities or only have basic ones that support very few current printers.

Even commercially used smartphones have no embedded printing system, although many printers now offer the option to directly print images by enabling the printer to convert images to print data. This form of printing cannot, however, be used for documents.

Henning goes on to outline three popular applications for cloud printing and the features and drawbacks of each. If you deal with cloud computing, you’ll find the article interesting, I’m sure.

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The Secret of Wealth

The Secret of Wealth

Inspired Ideas and Definite Action

Have you ever met a person who’s just simply puzzled? They’ve read an entire library of books on positive thinking. They’ve attended numerous seminars, and their car dashboard is stacked to the windshield with recorded self-help audio CDs. … But they just can’t seem to make things work.

Well, Wallace Wattles points exactly to the root cause of their problem — Acting in a Certain Way.

Wattles said,

“Thinking in the certain way will bring riches to you, but you must not rely on thought alone,
paying no attention to personal action. This is the rock upon which many otherwise scientific metaphysical
thinkers meet shipwreck – the failure to connect thought with personal action.”

Bob Proctor told an interesting story about having breakfast one day with Earl Nightingale, the co-founder of the globally successful Nightingale-Conant corporation. Bob explained that he was fascinated with the great volume of business that Earl Nightingale took care of, but even more particularly with the way Earl seemed to move in a calm, confident manner. He never appeared to be rushed. So, one day at breakfast, Bob asked Earl how he had mastered time management. Earl laughed and said, “I’ve never mastered time management. Nobody masters time management. Time can’t be managed. I merely manage activities. Each night, I write down on a sheet of paper a list of the things I have to accomplish the next day. And when I wake up … I do them.”

What a powerful lesson! While it seems like such a ridiculously simple solution, Earl Nightingale was demonstrating the very key to this chapter – he had learned how to connect powerful thought with powerful personal action.

As you’re watching the movie, The Secret, you must remember that, while various speakers are talking about the Law of Attraction, what ALWAYS precedes that attraction is ACTION.

Without ACTION, there is no attraction!

As a final note, I’d like to remind you that your list should be aggressive, but don’t try to shove 170 activities into a single day. You won’t get anywhere on that plan either. Remember what Wallace Wattles reminds us of: “Your action must be in your present business or employment. It must be upon the persons and things in your present environment. You cannot act where you are not. You cannot act where you have been, and you cannot act where you are going to be. You can only act where you are. Do not dwell on whether yesterday’s work was well or poorly done. Do today’s work well. Do not try to do tomorrow’s work now. There will be plenty of time to do that when tomorrow comes. If you take care of the action, the attraction will always take care of itself.”

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Are You Doing What You Love?

Somewhere in history, humankind picked up the false thought that we need to work on boring, day-to-day activities that we do not enjoy in order to survive.

We grow up in our programmed lives with the ridiculous idea that we have to go to work to earn money.

Nothing can be further from the truth. We should go to work for satisfaction. You want to spend your days doing what you love.

Doing what you want to do is LIFE! There is no real satisfaction in living if we are compelled to do something that we don’t like to do or that we’re expected to do. It’s as simple as that.

As Wallace Wattles says, the fact is this …

You can do what you want to do; your desire to do it is PROOF that you have within you the power to do it.”

Jack Canfield writes:

See, the idea that we work for money is silly. It’s an old idea that’s been around for a long time, but that doesn’t mean there’s any TRUTH in it. When we created the Chicken Soup for the Soul book series (which went on to sell 100 million copies), it wasn’t our “regular job.” Mark Victor Hansen and I were still doing – every day – what we loved most. The Chicken Soup idea was an OTHER idea, a SIDE idea, believe it or not.

Bob Proctor discussed the setting up of MULTIPLE sources of income – you WORK every day doing what you love, but that doesn’t necessarily have to be the big breadwinner. True riches come from setting up multiple sources of income that, quite probably, are “side ideas.” Chicken Soup started out as just another source of income for us.

Now, granted, Chicken Soup proved a surprising source of income for us. This happened because we simply were following ALL the constructs that are being laid out in this book. Remember, Wallace Wattles has already taught us that you provide service to earn money. When you increase your service, you earn more money. Our Chicken Soup books have entertained more than 100 million people, but it’s obvious that I wasn’t there with those buyers, selling them their books, or reading the books aloud to their children. In fact I was sleeping when many of these books were being purchased and read. But I earned money on every one of them … and I’ll earn money on them for the rest of my life … and my estate will earn money on them, because we found a way to increase our SERVICE by developing a SERIES of Chicken Soup books.

As Wallace Wattles said in the very first chapter of this book, you can only become rich when you expand your service beyond your current presence. And that’s just what we did. The Chicken Soup “side idea” proved a beautiful one. It resonated with millions of people in ways we can never possibly know and, as a result, it became ONE source of several multiple sources of income that both Mark Victor Hansen and I enjoy today.

Now, you could be in a place where you might not know how to set up multiple sources of income. You might not even know where to start. That really doesn’t matter. It’s a learned skill – and it’s one of the easier ones to learn. By studying this material and listening to the Science of Getting Rich program, you WILL learn how to earn multiple sources of income. All you have to do right now is decide that you’re GOING to do it.

Then, get your head around the most important aspect of this chapter – DO what you LOVE, not what you HAVE to do. It may not happen over night, but it WILL happen when you make that decision.

The second you’ve finished with this lesson, I encourage you to sit down and make a written commitment that you are establishing your goal towards spending your days doing what you love, and setting up multiple sources of income to create the income stream strategies that so many people from all walks of life and education have employed to become wealthy. Sign that commitment and give it to someone you respect. I guarantee you – your opportunities will begin to change immediately.

And you will have taken your FIRST STEP into creating the mind-set of the super-wealthy and happy.

Now let’s explore in more detail the concept of Multiple Streams of Income

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Multiple Streams of Income

Did you know there are only 3 income earning strategies?

Strategy #1 – What 96% of the population do.

In the first instance, you trade your time for money.

This strategy does NOT work. It has an inherent problem… you run out of time. If you are able to put any money away using Strategy 1 it’ll be at the expense of a life. You’ll be compromising on the house you live in, the car you drive and the vacations you take, your family time, and more.

Strategy #2 – What 3% of the population do.

In the second instance, you’re using money to generate more money. Whether it’s investments in the property market or stocks, you make your money work for you through your own business or someone else’s and collect the returns.

Simple as it sounds, so few people do this.

Strategy #3 – What the wiser 1% of the population do

This is the most Powerful Strategy of them all… when you Multiply Your Time. In this situation, you’re no longer restricted by geographic boundaries or physical form. You’ve created several revenue streams by creating Multiple Sources of Income (MSI).

Become very familiar with the term "MSI" because it will lead you to complete financial independence.

In fact, as part of the Science of Getting Rich Seminar which we offer on this site, we include what might be a perfect MSI for you. Every Seminar purchase comes with a “business-in-a-box”, a complete website with powerful technology and marketing tools that you can use to earn money while selling The Science of Getting Rich seminar.

It may sound unusual – providing an instant business to people who get the seminar but it made perfect sense. As soon as you setup your website and see leads and sales coming in, you change your mindset — you instantly move from being an employee, or from being a single business owner — into being a person with Multiple Streams of Income. This mind-shift causes even more income streams to be drawn towards you. It’s the Law of Attraction at work.

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The Process for Discovering Multiple Sources of Income

Ok, so you may understand the importance of Multiple Streams of Income but you may still be clueless as to how to find ideas that may bring you wealth.

This is where we use the Law of Attraction. You start by applying thought to what you wish to attract into your life — in terms of work or career you should aim to have a job that you truly enjoy AND one that pays you enough so that you can live the life you desire.

Do not worry if you’re not yet sure about how to reach this goal, for this is where the second part comes in.

Upon applying thought to this new life, you’ll find that through random events, coincidences or inspiration, ideas will come to you. Ideas that will lead you to create this desired life. History is filled with stories of men and women who gained inspiration through unusual sources like dreams. You’ll find this inspiration flowing to you too ONCE you set your mind on the vision of your ideal life.

The final stage is to follow the inspiration and take action — all the while continuing to apply desire, belief and expectation that your ideal life will manifest.

The process of manifesting wealth can be summarized in the three lines below:

In Lesson 1 to 6 we discussed the first and most important part of this wealth transformation process — the power of channeled thought. Now we’ll cover the next two parts – inspiration and action.

How to Open Yourself to Inspiration

In Lesson 1 you learned that you are more than physical matter. In Lesson 2, we discussed the Law of Attraction.

Lesson 3 was about controlling your thoughts while Lesson 4 showed you how to think “BIG”.

.

In Lessons 5 and 6 you first learned the process for daily meditation and then how to apply the concepts of Desire, Belief and Expectation.

Once you’ve followed these steps – and are thinking big thoughts about your future life, controlling your previously unrestrained random thoughts and practicing focusing your thoughts via daily meditation – you will find that throughout your day you will literally be filled with inspirational ideas. They could be ideas for new business, new sources of income, new pursuits of creativity — this is the Law of Attraction working.

Your body, then, is energy in a high speed of vibration, fed by thoughts and directives from your brain. Your brain as an object cannot actually think BUT you think with your brain. Albert Einstein’s brain is kept in a jar somewhere in New Jersey; however, it is not doing anyone any good because Albert is not with it! It was the flowing, moving energy into his brain and what he chose to DO with that flow that changed the face of our planet and made Albert’s “brain” famous.

Albert Einstein loved thinking – he was excited over the thoughts that surfaced. In fact, those who worked with him reported that he was often “gleeful” with an idea. This is exactly why Albert Einstein changed our world instead of just thinking about changing it. Albert got emotionally involved with his ideas. He visualized their physical result on the screen of his mind and, to everyone else’s surprise, those ideas became realities that changed our world’s perspective.

You have every ability to change the world just as he did. Albert Einstein had nothing on any other human being – not even you. He just knew how to move energy into theory, and theory into form.

The best part is that anyone can do this. We all have the same connections to the universal sources that gave inspiration to the likes of Einstein.

Napoleon Hill said:

The great artists, writers, musicians, and poets become great because they acquire the habit of relying upon the “still small voice” which speaks from within, through the faculty of creative imagination. It is a fact well known to people who have “keen” imaginations that their best ideas come through so-called “hunches”

~ Napoleon Hill, Think and Grow Rich

When you begin to see that idea take shape – when it’s actually something you can touch and see and feel the result of – well … it’s an incredible, grateful moment. When I experience that moment myself, I’m always reminded of the quote from the great psychologist Alfred Adler – “I am grateful for the idea that has used me.”

Believe me; I am ALWAYS grateful to the idea that has used me!

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Taking Action

The next step is to take action on your idea. Now here is where many people get lost — what if you don’t know what action to take? You may have an idea for a business, but should you get a loan, self-fund it, find a partner? The opportunites are endless – and confusing and overwhelming.

Napoleon Hill’s advice is this. He says do not worry about the specific action you take. Just take any small step, any "baby step" toward your dream. You do not have to be 100% sure you’re on the right track. You simply have to keep your thoughts focused on the dream and move forward. The Law of Attraction will do the rest. It will attract to you the exact right circumstances, meetings, opportunities, inspiration, people and offers you would need to move forward towards your dream.

Follow the steps in these lessons, and you’re on your way to claiming the greatness that was yours from the very beginning.

And may it be a beautiful journey.

We hope you enjoyed and gained much from these 7 free lessons. There is much more to learn but these basics alone will take you far.

If you feel you are ready to move forward in a great leap — to take a quantum jump and move yourself into the mindset of the great people of the world, we’re waiting to hold your hand and help you succeed.

Do you Desire to Take Your Life to the Next Level?

One of the Most Remarkable Things About the Science of Getting Rich Seminar is that Many People Who Attend the Seminar Frequently See Their Incomes Improving by 10, 20, 50 even 500 Percent Within ONE Year of Experiencing the Training.

Do you DESIRE to learn more and to master the mindset of wealthy and successful people? Let the Legendary Coaches, Bob Proctor and Jack Canfield, personally guide you through the most important Educational Experience of Your Life.

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How to export?

How to export?

Since you are reading this, you probably want to start an export company or want to start exporting the goods that you manufacture, outside India and enjoy the high profits of exports!

This guide will show you how to do this.

However, before we go into "How to export?", let us try to understand what exports are all about and whether you and your company are in a position to benefit from exporting.

So, the next question is:

Is exporting for you?

Exporting requires, some amount of commitment, certain resources, capital and a good understanding of the risks involved. In the first section of this article we have talked about these things.

After having read the first section of this article, you will have a much more clear picture about what goes into exporting and whether you and your firm should go in for it?

What is exporting?

Since India is such a large county, with so much diversity, "exporting", is just like selling in India! The basic steps are almost the same.

Basic Steps

You have a product or service to sell.

Your customers vary in their race, religious, culture and language.

Your have to market to different regions with different seasons and physical environments.

You do market research to understand your customers.

You develop a marketing plan to decide your distribution, pricing and promotion strategy.

You market and promote through the Internet, direct E-mail and postal mail, Fax, phone, brochures, press releases, the ad media, trade shows, etc.

You set up sales and distribution networks.

You provide the required service to your customers.

You respond to inquiries.

You invoice purchasers and get paid!

Note: In the above explanation, we talked about many marketing terms. To understand these better, you can read our, “How to market?” article. We use these marketing terms thoughout this article, so reading the marketing article would be a good idea.

However there are some major differences between selling in India, and exporting outside India. Let us try to understand them!

Difference In Exporting

Exports are often done through "intermediate players" in each country, not directly to end-users:
In most countries, “imports” are generally handled by “local agents” (on commission basis). Another way in which imports are generally handled is by “importer-distributors”, who buy (with their own money) from the exporters of other countries, and resell to end-users in their country. These intermediate players, know the market and have contacts with the end-users.

It many seem that having another “distribution layer” between you and your end-users will increase the cost and be bad for sales. However, good local agents and distributors are actually very valuable when you are going in for export.

Because of their experience and knowledge in the local market, they are able to develop and send you sales orders, arrange for payment, prepare required import documents, and clear the delivered goods through customs and other import formalities. Many are equipped to stock, install and service the goods too.

The end-users know and prefer to deal with these local agents and distributors, rather than buy direct from you or other foreign suppliers.

As a new exporter, your best option is to find good agents or distributors to represent you abroad. This is the best way to start off, at least in the beginning.

Exports usually involve an exchange of currency to pay for the purchase:
The importer pays in his local currency. However, exchange rates between currencies are constantly fluctuating. If, after he pays you, the value of his currency reduces with respect to your currency, you will loose money!

To protect against exchange rate fluctuations, you should quote your selling price in a strong currency. You could also quote your selling price in “Rs.” That way, you get the full amount you quoted, regardless of currency fluctuations.

However, this is not always possible. If all your competitors are willing to except payment in the local currency then you have no option but to do the same. This is generally the case in a “sellers market” where there is a lot of competition.

Export sales use different payment methods:
Exporters usually receive payment through a process handled by banks in your country and the importer's country. The most common method is called the “Letter Of Credit”. It insures prompt payment with minimal free. It’s a very simple concept; the importer gives the money in advance to his local bank. The importer’s bank sends these funds to a bank in your country, which pays you, the exporter, when the goods are delivered.

You can also purchase “export credit insurance” to reduce risks of non-payment.

Different laws and business practices exist in other countries:
Trade, monetary policy; pricing, distribution and promotion; treatment of intellectual property; health, safety and technical standards, etc. are different from country to country. These laws and practices affect what you're allowed to do and what you are not allowed to do.

Although many practices are “business friendly” and similar to those in your country, some are obstacles and risks for exporters. It's best to research each country and look for advise from an international law firm if needed.

Linguistic, demographic and environmental variations:
These differences, if ignored, can break your sales efforts abroad. Take care not to offend your foreign customers in the words, symbols and body language you use in your advertising and promotion material and business negotiations.

In addition, your products must "fit" the market environment -- the climate, terrain, sizes of people and things, consumer tastes and preferences, etc.

Exporting usually involves many added costs for shipping and insurance of the goods to the importing country

Exports are subject to customs duties and taxes in the importing countries

The above explanation must have given you a basic idea about what exporting is all about. However, many companies choose not to export because of certain "wrong ideas" or myths they have about exporting. Let us confirm that you do not have these wrong ideas...

Exporting myths!

Many companies do not export at all. Other companies do not export as much as they can. Why do so many companies not export? The usual reason is "I'm satisfied with the domestic market" or "I'm too busy with the domestic market to think about exporting." That's understandable in a very large market like India.

However, this is a shortsighted view. In effect, these companies are saying "I'm not interested in the additional sales and good profits!" Yet, if asked whether they would not go for a sales order because it came from abroad, many answer, "Of course not!"

Mainly, people do not export because of fear and ignorance, "I'm too small", "I can't afford it", "I can't compete", "It's too risky", "It's too complicated." These are myths and misconceptions. All these can be overcome.

I'm Too Small to Export

"Only large firms with name recognition, ample resources, and export departments can export successfully."

False! The vast majority of exporting firms in most countries are small and medium-sized enterprises (SMEs). Many have less than 50 employees. It's true that large firms typically account for a huge part of the total exports, but SMEs dominate the world’s exporting population.

I Can't Afford to Export

"I don't have the money to hire people, market myself abroad, or expand production if I get new export business."

Not true! There are low-cost ways to market and promote abroad, handle new export orders, and finance. These don't require hiring new staff or setting up an export department. At little or no cost, for example, you can get product and country market research, worldwide market exposure, generate trade leads, and find qualified overseas distributors to represent you.

I Can't Compete Overseas

"My products are unknown and my prices too high for foreign markets."

Since you are an Indian company, this is most likely NOT the case. The Indian industries are able to produce goods at a much lower cost as compared to companies in other countries around the world. The products sold in India, are sold at a fraction of the cost at which they are sold worldwide.

This is because, for a company to be successful in India it has to come up with ways to reduce the cost of the product it is selling. Until very recently a large part of India did not have a very high buying capacity. Because of this, if a product was to be sold all over India, the companies here had to innovate and lower the prices so that the product will not be too costly for the people.

Don't assume your price is uncompetitive. Your products could still be a bargain in strong-currency countries, even after adding overseas delivery costs and import duties.

So most of the products manufactured in India are very very cost competitive as compared to products manufactured in most other countries.

Besides that, the world is large, with varied needs and interests. If your product is popular in the domestic market, it might be wanted somewhere else in the world! What makes your product sell in the home market can help it sell abroad! Price is important, but it is not the only selling point. Other competitive factors are need, utility, quality, service, credit, consumer taste - these may override price.

Exporting is Too Risky

"I might not get paid. I might break a law I didn't know about."

Not likely! Selling anywhere has risks. But doing the right things can reduce the risk. There are a number of insurance programs that help you safeguard against the risk involved in exporting. Besides that, as explained earlier, the Letter Of Credit etc. can be used to insure payment when exporting.

Exporting is too complicated

"Exporting is too complicated; I don't know how."

Wrong! You don't need to be an expert to export. Almost all the complicated parts of exporting can be outsourced. There are Export Management Companies (EMCs), overseas agents and distributors, who can represent you, find overseas customers, present you with sales orders, handle all the export paperwork, and deliver the goods. You fill the orders and get paid for the sale. You pay them a fee or commission.

Possibility of YOUR success in exports!

Competitive Product

Products won't sell anywhere if they can't compete. To compete, your product must match or exceed the appeal of others -- in meeting needs, in quality, in price, etc.

Are you export-competitive? You may be export competitive even without realizing it. For example, if your product has sold well in the domestic market, chances are it will also sell abroad!

Why? By succeeding in the competitive domestic market, you've already proven your product can compete not only against other domestic products, but also against “imported” products. This is essentially the same competition you'll meet when you export.

However, you must remember that the overseas playing field will be “different”. You may need to adapt your product and pricing to compete. You may have to absorb added marketing and shipping costs to remain price competitive. You may have to offer credit and wait longer for payment. You may need to alter your product to comply with local standards and tastes.

Are you prepared to do what it takes to compete? If not, you won't succeed as an exporter.

Adequate Resources

As with any business, you'll need experienced staff, a location and equipment. It's possible to start with as little as a home-based office, and a computer, phone and fax. If you're already established, and have these basic things, you will have to use your resources to research and develop potential markets abroad.

As export orders come in, you'll need enough inventory to fill them, or the ability to produce or acquire more product as needed. If your customers want delayed payment terms, you'll have to pay for financing.

You CAN minimize these costs and still export, but you CAN’T eliminate them entirely. Do you have or can you get the necessary resources?

Sound Marketing Methodology

How you enter and market in a foreign market is important. Marketing and distribution practices are different from country to country. They are often controlled by law, custom, or necessity.

Some countries may require or prefer certain marketing or distribution methods, such as direct sales or use of local agents. Other countries may control or not allow them. Some countries have excellent mass media and high receptivity to advertising, trade shows, mail order, etc. Others do not approve of these approaches or do not have the modern communication technologies to support them.

Are you prepared to adapt your marketing methods? If not, you'll need to limit yourself to markets more like your own.

Do you have the money and capital required for exporting?

In this section we shall talk about all the costs involved in exporting. This will give you a clearer picture of exporting and also give you an idea about the kind of finances that will be required.

Costs of exporting can be kept low, but can't be avoided altogether. If you're just starting, you'll face the usual start-up costs for an office, furniture, equipment, and supplies. You'll incur some initial “research costs” to identify your best markets. To enter and develop these markets, you'll have costs to gain exposure, set up sales and distribution networks, and attract customers etc.

As your exports increase, you might take overseas business trips, do more media advertising, and participate in trade shows abroad. In some countries, you may have to redesign or modify your product to meet local requirements or customer preferences.

Generally, the more you spend to prepare, promote, and adapt for export, the greater the return for your business. But don't be afraid if your funds are limited. You can start even on a limited budget. Some of the major costs involved in export are:

Employees

You may not need additional employees. One experienced person can handle the work for several clients, gathering market research, seeking overseas customers, responding to inquiries, preparing export paperwork, and arranging for delivery of the goods.

If you're already producing a product or service, you can export through an Export Management Company (EMC) or Export Trading Company (ETC) without adding or training any new company staff. EMCs/ETC’s already have relationships abroad and will incur some or all of the initial costs to find you customers and generate orders.

Some EMCs and most ETCs also buy goods outright from domestic producers (with their own money) for resale abroad. You, as the supplier, would get paid right away and would also benefit from exposure of your product abroad.

If you intend to handle some or all of the export work in-house, you should hire an export manager and train someone your staff.

Advertising & Sales Promotion

If you’re a new exporter, you’re probably not known outside your country. You’ll need to promote yourself to get overseas exposure.

A company Web site, with company highlights and product descriptions can be your first step. A web designer can create an attractive site for you, or you can do it yourself. You can register your “dot.com” domain for a small fee. Because your site may be difficult to find on the Internet, you should also list your company in one or more Internet/Export Directories. One such directory is: http://www.infobanc.com/ There are many more such directories on the Internet.

In addition to a Web site and directory listings, you should also have printed materials for mailings, handouts and responses to inquiries, such as a company brochure, product sheets, etc. Your brochure could be self-prepared or professionally designed by a marketing firm.

Whenever possible, place free press-releases in industry journals with international circulation.

Higher cost options include paid telemarketing, media ads, and participation in overseas trade shows.

Risks of Exporting!

Risks due to your own in-experience:

Because of your in-experience you might make some very expensive blunders. Make sure you DON’T do these things:

·       Don’t try to go for too many markets at once, or the wrong markets.

·       Don’t use sales advertising, brochures and promotion that offends.

·       Don’t appoint incompetent overseas representatives that ‘can't be terminated’.

·       Don’t fail to protect your intellectual property.

·       Don’t agree to payment methods or terms that leave you at risk.

·       Don’t try to handle all the shipping and documentation yourself. (At least in the beginning!)

·       Go slow until you gain more experience.

Financial Risks

Your main concern is non-payment after you've shipped the goods. You can largely avoid this by selling on a Letter of Credit (L/C) basis. L/Cs assure payment because the buyer must deposit the money in advance at his bank, and a correspondent bank in your country then takes on the obligation to pay you.

However, many foreign buyers ask for delayed payments within 30-120 days after the goods arrive. You might have to offer this, if all your competitors are offering these terms! Doing so increases your risk. You can protect yourself with “export credit insurance”.

If buyers won't pay, it’s usually for one of two reasons:

·       You haven't completed the “terms of sale” in their view

·       They're dishonest.

You must complete the “terms of sale” as specified in the L/C and the shipping documents. If you don't do this then it becomes very hard to get paid.

Also, over time you will be able to recognize dishonest buyers. This is something that comes with experience.

Business Risks

Take effort to learn about your export business partners. Beware of deals that are "too good to be true." Many of these will be scams.

You must understand that India is not the only corrupt country in the world. In fact, many of the counties in the world are “much more corrupt”. In many countries, corruption is common. The line between what's customary and tolerable, and what's excessive or illegal, is not always clear. Seek advice from a lawyer.

IMPORTANT: Watch out for firms out to copy your technology once they get a product sample or your first shipment.

Take special care to appoint good overseas agents and distributors. Some may already represent your competitors, or be so busy they can't do justice for your products. They may not have the qualifications or capabilities they claimed, such as the ability to stock, install and service your goods. In some countries, once you sign an agent/distributor agreement, it's almost impossible to terminate the agreement. Make sure you do not fall for this trap.

Legal Risks

Every country has it's own business laws and regulations. Many may be similar to our country’s laws or follow international standards. Some vary widely by country. Failure to comply could trigger fines or worse. Take the time to do market research and seek legal advice as needed.

Political Risks

Political instability can cause dramatic changes, including major shifts in economic policy, nationalization, expropriations, loss of personal rights, and physical danger. It can prompt foreign reactions in the form of economic sanctions, boycotts, and embargoes. Be alert to what's happening in the world. Some shifts can favor exporters. For example, ongoing shifts toward privatization and trade liberalization in many previously controlled countries continue to offer opportunities for the world’s exporters.

All the information provided in till here, must have given you a good idea about what exporting is all about. You are now in the position to decide whether your firm has what it takes to export and whether, you want to go in for exports.

If you have decide to go in for exporting, the next step is to....

Export Marketing Plan!

Once you have decided to go in for exporting, the next step is to develop a marketing plan.

As you can imagine, many foreign markets differ greatly from India. Differences include climatic and environmental factors, social and cultural factors, local availability of raw materials or product alternatives, lower or higher wage costs, varying amounts of purchasing power, the availability of foreign exchange, and government import controls.

To handle all these changes, a marketing plan is required.

Why write a marketing plan?

A clearly written marketing plan offers six immediate benefits:

Written plans are not easily forgotten, overlooked, or ignored by those who are made in charge of executing them. If deviation from the original plan occurs, it is probably due to a deliberate choice.

Written plans are easier to communicate to others and are less likely to be misunderstood.

Written plans allocate responsibilities and provide for a way in which results and progress can be measured.

Written plans are helpful when you have to approach banks and other organizations for financial assistance. They indicate to lenders that you have a serious approach to the export venture.

Written plans give your companies management a clear understanding of what will be required of them.

But, before writing a marketing plan, some market recearch is to be done. We have provided a step-by-step guide to market research for exporting.

Market recearch!

To successfully export your product, you should study foreign markets. You need to do this, to identify exporting opportunities and “constraints” abroad, as well as to identify prospective buyers and customers.

Market research basically is all the methods that a company can use to determine which foreign markets have the “best potential” for its products.

The market research is generally used to find out the following information for a company:

The largest markets for its product

The fastest growing markets

Market trends and outlook

Market conditions and practices

Competitive firms and products

Sometimes, you may begin to export without conducting any market research if you get many unsolicited orders from abroad. Although this type of selling is valuable, you may discover even more promising markets by conducting a systematic market research.

A firm may research a market by using either “primary” or “secondary” data resources.

In conducting primary market research, a company collects data “directly from the foreign marketplace”. This is done through interviews, surveys, and other direct contact with representatives and potential buyers. Primary market research has the advantage of being as per the company's needs and provides answers to specific questions, but the collection of such data is time-consuming and expensive.

When conducting secondary market research, a company collects data from various sources, such as trade statistics for a country or a product. Working with secondary sources is less expensive and helps the company focus its marketing efforts.

Although secondary data sources are critical to market research, they do have limitations. The most recent statistics for some countries may be more than two years old. Moreover, the data may be too broad to be of much value to a company. Statistics may also be distorted by incomplete data-gathering techniques. Finally, statistics for services are often unavailable.

Even with these limitations, secondary research is a valuable and relatively easy first step for a company to take. It may be the only step needed if the company decides to export indirectly, since the intermediary firm may have advanced research capabilities.

A Step-by-Step Approach to Market Research

Your company may find the following market research method useful.

It basically involves:

·       Screening potential markets

·       Testing the targeted markets

·       Drawing conclusions.

Screening Potential Markets

Step 1. Obtain export statistics that indicate your product’s exports to various countries.

Step 2. Identify five to ten large and fast-growing markets for your product. Look at them over the past three to five years. Has market growth and import growth been consistent year to year? Did import growth occur even during periods of economic recession? If not, did growth resume with economic recovery?

Step 3. Identify some smaller but fast-emerging markets that may provide good opportunities. If the market is just beginning to open up, there may be fewer competitors. Growth rates should be substantially higher in these countries

Step 4. Target three to five of the most statistically promising markets for further assessment.

Testing The Targeted Markets

Step 1. Examine trends for your products as well as related products, that could influence demand of your products. Calculate overall consumption of the product and the amount accounted for by imports.

Step 2. Find out your sources of competition. These sources could be, the companies in the target country producing the goods you are trying to export. Other sources of competition are other foreign players like your self exporting to the target country. Take a look it the “market share” of all your competitors and see whether it is increasing or decreasing? Increasing market share indicates a strong company and tough competition.

Step 4. Identify any foreign barriers for the product being imported into the country. Identify if there are any laws in India preventing you from exporting a certain product.

Step 5. Identify any Indian or foreign government incentives that promote exporting of your particular product or service

Draw Conclusions

After analyzing all the data, it becomes easy to conclude whether a particular market is a good or bad choice! Once the "target market" is decided upon, the next step is to...

Export market entry stratergy!

Each target market needs it’s own market entry strategy. Foreign markets can differ in many ways -- in income levels, standards, climates, sizes of people and space, language, religion, cultural preferences and taboos, business practices, etc. Without a “market-conducive” entry strategy, you will not be able to use the full market potential; or worse, you could make costly mistakes.

The biggest mistake than many exporters make, is to assume that all markets can be approached in the same way. DO NOT, make this mistake!

In its simplest form, market entry plan should address 4 key points:

·       Distribution

·       Promotion

·       Pricing

·       Localization

Distribution Strategy

The main options you have for product distribution are, are to:

·       Sell directly to end users in the market

·       Sell through agents or distributors in the market

·       Hire overseas sales staff to cover the market

·       Establish overseas sales offices in the market

·       Establish overseas joint ventures or subsidiaries

The right approach depends on how much control you want over the process, the expected volume of sales, the openness of the market, and what is customary in each market.

Most exporting is done through “local agents” or “distributors”, or “directly”.

Overseas sales offices, joint ventures and subsidiaries are last-resort options. When the volume being exported is high then such methods are used. Only with such high volumes, can the high cost of setting up the “sales offices” be reasonable.

Joint ventures and subsidiaries may also become necessary if imports are subject to 'prohibitive import duties' or other restrictions.

Here we have talked about “local agents & distributors”, or “direct selling” since this is the method that will be used to most of our readers.

Selling through overseas agents and distributors

Exporting through local agents or distributors is the norm in most countries and also the most effective. As market "insiders," they speak the language, understand how business is done, and know who the customers are and how to reach them. The end-users generally prefer to deal with local agents and distributors, rather than buy direct from foreign suppliers.

Overseas “agents” act as your representatives in the market. They develop and send sales orders, arrange payment, prepare all required import documents, and clear the goods through customs. They normally work on a commission basis and don't take title to the goods.

Overseas “distributors”, in addition to representation functions, generally purchase the goods and resell them at a profit. Many are equipped to stock, install and service the goods. In large, developed markets, agents and distributors often specialize by industry. In smaller, less developed markets, they're more likely to carry many different types of products.

Selling direct to foreign end users

Direct selling avoids intermediary costs and offers more control over price, service and level of effort. It is an option in markets with “only a few buyers”, or when you or the end users can “easily find each other”.

Direct selling is particularly used for mail order sales and now for Web-based Business-to-Consumer (B2C) and Business-to-Business (B2B) trade. An intermediary is not needed in these situations.

Promotion Strategy

You will need some promotion in target markets to make your products known. The options abroad are generally the same as domestically – a Company Webpage, direct mail (regular or e-mail), telemarketing, press releases, paid ads, trade shows, and sales trips. Most countries have adequate media and can support any of these methods. However, some techniques may work better than others in particular markets. Costs could also affect the approach.

Certain promotions clearly cost more if done from India, such as direct regular mail, telemarketing, and business travel. If you want to promote using these techniques, let the overseas rep., distributor or agent.

Pricing Strategy

Ideally, the price at which you sell in the export markets, should cover all costs, be competitive, attract buyers, and still make a profit! The "optimum" price in one market may not work in other markets.

Whatever the market, price planning must start with the “product’s baseline unit costs”. Pricing below cost is economically unwise.

Calculating baseline export costs

Baseline export costs include:

·       Fixed costs to produce the product

·       Variable costs to market and deliver the product abroad.

Variable export costs might include any or all of the following:

·       Market Research

·       Postage

·       Overseas phone/fax calls

·       Promotion

·       Travel

·       Translations

·       Consultant/legal fees

·       Export documentation

·       Any special packaging, labeling, freight forwarding fees

·       Transportation to destination

·       Cargo insurance

·       Agent/distributor commissions

·       Training

·       Warehousing

·       Product warranties

·       Service contracts

·       Banking fees

·       Credit insurance or credit carrying costs.

Determining what the market will bear

Once you determine your baseline costs, your price above that can be whatever the market will accept. This generally depends upon the market demand, ability to pay, the competition, and your product's particular attributes (new or unique, superior quality, brand recognition).

Price flexibility is important. You might go for volume discounts or “low introductory pricing” to gain a foothold in the market. You might also offer delayed payments or credits. These concessions, of course, will lower your profit margins, at least in the short run.

Localization Strategy

Most countries have different languages, cultural values, tastes, business practices, income levels, environmental conditions, product standards, legal requirements, etc.

These all have important sales implications. To be successful in different markets you need to "localize" your approach.

For example, sales won't do well if:

·       The product is incompatible with local health, electrical and technical standards.

·       The product is unaffordable for buyers.

·       The product needs added protections against abnormal climates, pestilence, pollutants, etc.

·       The product requires downsizing to fit smaller people, homes, streets, etc.

·       The product or packaging uses colors, shapes, words or symbols that offend or appear foolish to target customers.

·       The sales literature and user manuals need translation to be understood.

Increase Market Exposure Abroad

If you're not already known abroad, you'll need to promote your company and products. Overseas promotion is a must. You won't sell much if the buyers don't know who you are. Generally, the more you promote, the greater the impact. You can best increase your overseas market exposure through a combination of “broadcast” and “targeted” techniques.

Here are some broadcast techniques worth a try:

Company Web site:
Your own company Web site can potentially be "seen" by anyone in the world at any given moment. You can design it as a company/product catalog, with text, images, price sheets, order forms and anything else you wish. You can track and collect data on site visitors, and incorporate automatic e-mail responses to orders and inquires. Web Page set-up costs are fairly low. Be sure to include your Web “URL” address on your business card and other promotional literature.

Export Directories:
Unlike directories of manufacturers, export directories only list companies actually engaged or interested in exporting. Since many manufacturers do not export, foreign buyers will more likely look in an export directory to find potential suppliers. It's to your advantage to be listed in export directories, particularly those with worldwide Internet outreach.

There are two types of export directories -- company-specific and product-specific.

An export company directory essentially lists the companies by name and industry category.

An export product directory lists the products each company offers for export, often with detailed descriptions and images.

However, since foreign buyers primarily look for products, not companies, you may get better promotional results from listings in export product directories.

Export "sell" offers

You can post your own "offers to sell" in a number of different electronic trade lead websites. It's best to provide as much information as possible in your offer, to reassure potential respondents that you are a serious and reliable supplier.

When posting a trade lead, you must specifically in describe:

·       Your export product (specifications, uses, benefits),

·       Quantity available

·       Price and delivery options

·       And what you would like to know from respondents

Targeted Promotion

Here your promotion reaches just the “targeted market or audience”. Your message can be more detailed and personalized. Your objective is high-quality, high-impact exposure. The costs are higher, but so are the rewards. If you have foreign representatives, they can do some or all of the targeted promotion in their areas, usually on a cost-sharing basis. Consider these targeted promotion techniques:

Overseas Business Trips:
Face-to-face promotion can be very persuasive. The key is to know whom to see before you get there. Don't waste precious time looking after you arrive.Overseas trade shows and Expos:
They're costly, but a trade show puts you face-to-face with many potential customers at once, all able to see you and your products first hand. You can talk face-to face, book orders, and perhaps even sell off the floor.

Trade show opportunities exist all over the world. Every country has at least one major annual trade show. Many countries have shows throughout the year, often on specific industry themes.

Domestic trade shows and Expos:
Some domestic trade shows attract large numbers of foreign buyers. They're serious buyers, because they've come a long way to see “what's new”.

Domestic trade shows are also a good way to meet EMC’s and other export intermediate players who you can get to represent you abroad.

The actual process of exporting!

Having decided which country you are going to export to, doing the required market research and finally developing a "market entry plan" for the country as explained in the previous sections, the next step is to actually export.

Here we have provided a step-by-step guide to actually exporting the goods. In the next few pages, you will learn to:

·       Find over-seas buyers

·       Hire the right distributors and agents

·       Prepare goods for delivery

·       Get paid!

Find Overseas Buyers and Distributors

Finding the agents or distributors for each market is crucial. You need good overseas business partners to generate sales. Agent/distributor selection is especially important. A poor sales rep. could seriously hamper you in good markets. Therefore, you want to choose carefully.

Here are techniques for finding "interested buyers" and "qualified agents and distributors".

Find Potential Buyers

You can't assume that the buyers will find you. You need to search for your own leads.

The best leads are the “first-hand leads” you uncover on foreign business trips or that your overseas reps. find for you. These leads are also more costly to develop.

If you don't have overseas reps. or can't afford overseas sales trips, give the "second-hand" leads a try. Second hand leads, are those you find out about by reading on the internet, though magazines etc. They're often very good leads too. However, since your competitors can learn about them too, you MUST follow up quickly on these leads.

Some of the best leads are for “development projects” still in the planning stage. These future projects offer opportunities for equipment, supplies and services of all kinds. They often have government support and financing.

Find Potential Agents/Distributors

Finding and keeping good overseas reps. is a four-step process:

Identify and contact prospects in each market

Screen and select the best prospects

Contractually appoint the selected reps

Support the reps over time.

Step 1: Contact and Screen Prospective Reps

First impressions count, so what you say first is very important.

The initial message should convey:

·       Basic facts about your company and products

·       Your market objectives

·       The qualifications you seek in a potential rep

·       What the rep could expect from you (pricing, payment terms, delivery, promotional support, etc.)

You should respond promptly to all serious responses, try to answer all questions as fully as possible, and provide product information etc. Do use discretion in sending costly product samples, especially if they could be easily copied. Product samples should be reserved for the top prospects.

Once you've located some prospects, how can you tell who's best?

The key is to know what you want in a rep. You should identify the qualifications needed for effective representation. The requirements may vary by product, but five basic qualities are fundamental:

Experience: a rep with a solid track record as an agent or distributor; expertise in the product area; and strong connections in the user community.

Capability: a rep who can market and support the products in the way required (e.g., promote the product, train users, install and service equipment)

Motivation: a rep who is enthusiastic about the product and able and willing to give it priority

Loyalty: a rep who would not desert you for a competitor or represent a firm with a competing product

Honesty: a rep with a good reputation in the industry and good bank and trade references

When finding your rep. make sure you know the following background information on each prospect:

·       Current status and history, including background on principal officers

·       Personnel and other resources (sales people, warehouse and service facilities, etc.)

·       Sales territory covered

·       Current sales volume

·       Typical customer profiles

·       Names and addresses of foreign firms currently represented

·       Trade and bank references

·       Capability to meet your special requirements

·       Opinion on the market potential for your products

Don't hesitate to ask prospects for this information. They'll respond if they want your business. Of course, don't go by what they say alone. A face-to-face meeting with top prospects is also wise at some point, preferably at their premises for a first-hand evaluation.

Select and Appoint the Best Reps

Once you've identified the best prospects, you should formalize the appointment with an “agent/distributor agreement”. These agreements clearly specify the terms of the relationship and the responsibilities of each party.

The “agent/distributor agreement” should cover the following:

·       Products covered

·       Territory covered (e.g., country)

·       Degree of exclusivity

·       Minimum sales/purchase obligations

·       Responsibilities for marketing, promotion, shipping

·       Responsibilities for technical support, training, after-sales service

·       On-hand inventory requirement

·       Allocation of expenses

·       Terms of commission/payment

·       Handling of complaints and disputes (e.g., arbitration)

·       Conditions of termination

These points are negotiable. Aim for a mutually beneficial agreement that motivates the rep and protects your interests.

The rep will also ask you to respond promptly to orders, deliver the product on time, pay the agreed commission, provide training or other specified support, and pay a fair share of any joint marketing and promotion expenses.

These are reasonable conditions. In turn, you should seek the following commitments from the rep:

·       To apply the utmost skill and ability to the sale of your products

·       To effectively perform the marketing, promotion and support tasks you specify

·       To meet any performance goals you specify (e.g., sales volume and growth)

·       Not to handle competing lines

·       Not to disclose confidential information about your company and products

·       Not to bind you to agreements without your prior approval

Please Note: It's also very important to have an “escape clause” in the agreement. You need the flexibility to change your rep. if the rep doesn't perform as agreed.

Most agreements specify a specified duration (usually one year), with automatic annual renewal, unless either party opts to terminate. Typically, advance notice is required for termination (e.g., 30, 60 or 90 days).

However, some countries limit termination rights in order to protect local businesses. Without an enforceable termination clause, you might have to retain a poor performer longer than you want, or pay a high fee to end your relationship with your rep.

You should consult an internationally experienced attorney before signing any agent/distributor agreement.

Support Your Overseas Reps

Good reps need your co-operation and support as much as you need theirs. Treat them as you would your domestic sales force. Prices, terms and commissions should be reasonable. At the least, you should:

·       Alert your reps to planned changes to the product line, pricing and delivery

·       Respond promptly to their calls and correspondence

·       Provide product training and customer support as needed

·       Consider help with promotions, including cost sharing for trade shows and media ads.

·       Deliver the goods when and as promised

Responding to inquires!

Basic Rules

Reply quickly or not at all: Delay implies lack of interest to the prospect's needs. Also, MOST IMPORTANTLY, delays give competitors more time to win the business. Use E-mail, fax, airmail or express delivery as appropriate.

Answer all questions: The inquirers may ask many questions, but should not have to ask the same questions twice. If one of your standard letters answers the questions, send the letter. If not, revise the letter to answer the questions.

Use a business-like tone: Impersonal letters and responses don't make a good impression. Edit your letter and make it specific to the inquirer. Be friendly and courteous, but avoid slang or informal responses. Include name, title and contact information in all correspondence (phone, fax, E-mail and Web address). Print all letters on company letterhead.

Reply in the language specified: Most inquiries are in English. Some are in the author's language but ask for a reply in English. If the inquiry is not in English, have it translated so it’s clear what the prospect wants. Translate the response if requested. Commercial translators will do this for a fee. Some colleges and universities also offer translation services.

Enclose product brochures, price lists and other information: Use your materials to answer most questions, so that the next communication will be a request for quote!

Handling Requests for Information and Price Quotes

Handling requests for information and price quotes. As inquiries lead to interest, prospects will send you a “Request for Quote”. Your “Export Quotation” in response should cover all costs to produce and deliver the goods, plus ancillary fees and markup.

Although formats can vary, “export quotation invoices” or “Performa invoices”, cover the following points:

·       Date prepared

·       Exporter's name, address and telephone/fax/telex numbers

·       Buyer's name and address

·       Buyer's reference number and date of inquiry

·       List and brief description of requested products

·       Price of each item

·       Trade discount, if applicable

·       Country of origin of the goods

·       Gross and net shipping weight (in metric units where appropriate)

·       Total cubic volume and dimensions (in metric units as needed) packed for export

·       Delivery point

·       Terms of sale

·       Payment terms and method, including currency to be used for payment

·       Insurance and shipping costs, specifying who will pay

·       Total charges to be paid by customer

·       Estimated date of shipment arrival

·       Any other terms of the proposed sale

·       An explicit expiration date for quotation

When you and the buyer have agreed on the final price and terms, a “Commercial Invoice” is used for billing.

A commercial invoice lists the quantity, weight, unit price, and total price of each item exported, along with other basic information about the transaction (such as the address of the shipper and seller, and the delivery and payment terms). The buyer needs the invoice to prove ownership and to arrange payment. Some governments use the commercial invoice to assess customs duties.

Prepareing Goods for Delivery

To move the goods overseas, you'll need to pack, label, document, insure, and ship them.

Some of this preparation is to protect the goods from damage, theft, or delay in transit.
Some actions are legally required, either by the exporting or importing country.

Packing for Export

Exported goods face greater physical risks on route than domestic shipments. They're more vulnerable to breakage, theft, and damage. At some ports, goods may be loaded or unloaded in a net or by a sling, conveyor, chute, or other method, putting added strain on the package. Goods might be stacked on top of each other or bump against other goods.

Overseas, the cargo might be dragged, pushed, rolled, or dropped. Moisture is also a danger. The cargo also might be unloaded in the rain. Some foreign ports do not have covered storage facilities. Goods can also be stolen when inadequately protected.

If you're not equipped to pack the goods yourself, use a professional packing firm. This service is usually provided at a moderate cost.

To avoid problems:

·       To deter theft, shrink wrapping where possible and don't list the contents or show brand names on the outside of the packages.

·       For sea shipments, containerize your cargo whenever possible. Containers vary in size, material, and construction and are best suited for standard package sizes and shapes.

·       For air shipments, you can use lighter weight packing, but you must still take precautions. Standard domestic packing should suffice, especially if the product is durable.

Export Marking and Labeling

Export packages need to be properly marked and labeled to meet shipping regulations, ensure proper handling, conceal the identity of the contents, and help receivers identify shipments. The buyer usually specifies export marks that should appear on the cargo, such as:

·       Shipper's mark

·       Country of origin

·       Weight marking (in pounds and in kilograms)

·       Number of packages and size of cases (in inches and centimeters)

·       Handling marks (international pictorial symbols)

·       Cautionary markings, such as "This Side Up."

·       Port of entry

·       Labels for hazardous materials

Mark containers clearly to prevent misunderstandings and delays in shipping. Letters are generally stenciled onto packages in waterproof ink. Markings should appear on three faces of the package, preferably on the top and the other two sides.

Comply with Trade Requirements

When exporting from India, there are certain things you must do. Basically, for exporting any goods, you require to get the goods approved by certain “Customs Authorities”.

There are a number of documents required. There are also many incentives that the government gives for export of certain goods. To completely understand all the requirements, legal formalities and procedures you must read "Procedures For Exports In India"

Getting paid after exporting goods!

After the goods leave, you want to make certain you’ll get paid. You need to be familiar with the payment methods used for export transactions. They differ from methods used domestically, and some methods are riskier than others.

Foreign buyers expect to pay only when the goods arrive, or later if possible. Few will be willing to pay in advance.

Letters of Credit (L/Cs) is the most common export payment method.

Letter of Credit

With an L/C, a bank pays you. The bank collects independently from the importer. An L/C can be at sight (immediate payment upon presentation of documents) or a time or date L/C (payment to be made at a specified future date).

Here's a typical L/C scenario:

The exporter and the importer agree on the terms of a sale.

The importer applies for the L/C for the amount due from a local commercial bank. The L/C is normally “irrevocable” to protect both parties (no changes permitted without the consent of both the buyer and the seller). The bank typically requires the buyer to put up collateral to cover the L/C amount. At this point, the buyer’s bank takes on the obligation to pay you.

The importer's bank prepares the irrevocable L/C and all instructions concerning the shipment.

The importer's bank sends the irrevocable L/C to a correspondent bank in the exporter’s country, requesting “confirmation”. At this point, the confirming bank accepts the obligation to pay the exporter.

The confirming bank sends the exporter a letter of confirmation along with the “confirmed, irrevocable” L/C.

The exporter reviews and accepts all conditions in the L/C.

The exporter arranges to deliver the goods to the appropriate exit port or airport.

When the goods are loaded, the exporter completes the necessary documents.

The confirming bank checks that documents are in order and sends them to the importer's bank for review.

The importer gets the documents from his bank and uses them to claim the goods.

The confirming bank pays the exporter by draft at the time specified.

Satisfying all the conditions of the L/C terms is crucial. You should carefully review the L/C and make sure the price and terms are the same agreed to in price quotes and other documents.

If the L/C terms are not precisely met, the bank might not pay. Also, the bank will only pay the amount in the L/C, even if higher charges for shipping, insurance, or other factors are documented.

If the L/C terms can't be met, or it has errors or even misspellings, you should contact the buyer immediately and ask for an amendment to the L/C to correct the problem.

To get paid, you must provide documentation showing that the goods were shipped by the date specified. The freight forwarder can advise about any unusual conditions that might delay shipment. You must also present the documents by the date specified. The bankers can advise whether there’s enough time to meet a presentation deadline. You should always request that the L/C specify that partial shipments and transshipment will be allowed. This will avoid unforeseen problems at the last minute.