Case Study: Bank of China achieves faster, lower-cost trade document processing with essDOCS CargoDocs ePresentation

How CargoDocs helped the Bank achieve major operational improvements, while significantly reducing costs and adding value for its corporate customers importing cargoes from across the globe

Bank of China faced significant inefficiencies and avoidable costs due to a laborious, paper-based trade document process at its corporate banking branches, which resulted in frequent document delays. The vendor, essDOCS, worked with the bank to implement its CargoDocs ePresentation solution to address these challenges.

By adopting essDOCS's CargoDocs platform, Bank of China accelerated its trade documentation processes, achieving an estimated $53.55 in direct handling savings per transaction. This amounted to a time saving of 149 minutes per transaction, driven by an 83% reduction in internal document distribution time, a 90% reduction in handling time for document transfers, and an 83% reduction in time spent communicating on discrepancies. These efficiencies translated to substantial annual cost savings, demonstrating the significant impact of the essDOCS solution.

Bank of China