PikMyBox and ICICI Bank have combined their digital strengths to launch a digital, paperless facility for regularization of postal bills for export
Ecommerce exports is a segment consisting of high-volume and low-value shipments. Each shipment requires on average 5 pieces of documentation – including shipping bill, export invoice and various proofs of export etc. For any business that on average is doing 1000-1500 shipments per month, this translates into 5,000 pieces of paperwork that were required to be physically submitted to the bank. For larger exporters, the burden of paperwork would be even greater.
Aggregating and managing all this physical work has always been a challenge for exporters. And in this post-pandemic era, it has been even more challenging – aggregating all the paperwork in a work-from-home environment, physically submitting to a bank branch and making repeat visits. This is the issue that PikMyBox and ICICI Bank is aiming to alleviate with this new eBRC (bank realization certificate) process.
The exporting process
PikMyBox provides process automation by allowing exporters to easily generate all of their export documents and creates a digital docket for each shipment consisting of all these relevant documents required. The PikMyBox application is set up in a way that allows for easy collaboration between teams and with other stakeholders in the ecosystems – such as logistics partners, CHAs and now even banks.
All an exporter has to do is to upload their basic shipment details and all of the export documents consisting of shipping bills, invoices, shipping labels etc. can be digitally generated with a single click. These can be printed and submitted manually, or alternatively shared online with connected partners. Then exporters can select a shipping partner to send their shipments or alternatively they can also utilize PikMyBox logistics services for first mile, customs clearances and parcel booking.
Once the export shipment is shipped out, the proof of export documents are also added to the digital docket. With this, the digital docket is now complete for submission to the bank for the issuance of a bank realization certificate.
ICICI Bank gets the benefit of getting fully vetted digital documents from PikMyBox, reducing their own time, allowing them to give speedy and affordable services.
| Key features of this paperless eBRC facility 1. The exporter has control to select the shipments that he wants to submit to the bank for the issuance of the bank realization certificate 2. Submit all documents digitally through the PIkMyBox app such as export invoices, parcel booking and tracking receipts, shipping bills and other documents 3. Submit shipments and their documents in bulk 4. Affordable flat rate |
PikMyBox is India’s leading logistics platform for cross-border ecommerce. They have powered export shipments for over 3,000 businesses to a global reach of over 165 countries. Their unique value proposition is providing their users with digital documentation services along with first mile logistics to make exporting as simple as any domestic dispatch.
ICICI Bank leads in online trade services and have digitized almost 90% types of trade transactions online. They are certainly industry leaders in this export-import segment through their comprehensive suite of online products and services that allows their customers to manage their end-to-end banking processes throughout the lifecycle of their exports. PikMyBox and ICICI Bank have combined their digital strengths to launch a digital, paperless facility for regularization of postal bills for export. They will further collaborate to expand their bouquet of streamlined services to customers for a variety of different exports.
