5 benefits of using Veritrade in your companyPublished on 14 April 2021
Our foreign trade platform allows you to access customs import and export information from more than 40 countries around the world. Discover it and start making informed business decisions.
Veritrade was founded 20 years ago to solve the problems of accessibility to foreign trade information. Our mission is that everyone interested in doing international business can find, in just a few clicks, relevant, updated and quality information about what is happening in the world: current prices, analyze their competitors, identify market trends, potential customers, new suppliers and more.
In the following five points, we give you some of the ways in which you can take advantage of the platform. We invite you to implement them and tell us in the comments how else you use Veritrade in your day-to-day business.
1. Informed business decisions: analyze your market, find customers, suppliers, prices, competitors, trends and more
Analyzing the market and the competition is fundamental for success. With Veritrade you can identify potential customers and new suppliers. Teams such as purchasing, sales, marketing, logistics, planning, and even legal or regulatory, will have reliable and updated import and export information for their projects, follow-ups and tariff investigations.
To understand the advantages offered by the system, let's take the case of avocado exports from Colombia, where they are a star product. If you are considering entering the market, you could start by looking at the destinations to which this product is shipped, to have a preliminary idea of the potential markets.
A chart like the one below can be obtained with a single click using the My Products function.
In addition, you have the possibility of identifying which companies are the current exporters and importers, the means of transportation used, actual prices of each transaction, weight or volume of the products, number of shipments, the company buying the merchandise sent and the country of destination. On the other hand, you will also be able to obtain strategic information about potential suppliers for your business.
With this you will already have an idea of the positioning of your product in the international market, as well as the competition you will have in the market you wish to enter. The same exercise can be replicated for exports from other countries, so that you can compare the performance of campaigns in different origins.
If you didn't have Veritrade, it would take hours or perhaps days to compile all this information by searching the databases for each country individually. This could also mean paying for multiple user accounts, so you will not only save time, but also money.
2. Up-to-date and reliable customs information from around the world: more than 50 countries in 108 databases
Competing on a level playing field requires complete information. The benefits of point 1 are multiplied if you take into account the number of search possibilities offered by the platform. In the image, you can see an example of the list of available countries.
The coverage reaches the entire American continent except for Guyana and Suriname, the 26 countries of the European Union, the United Kingdom, China and India. However, it should be noted that some databases have more detail than others.
Again, the information available will allow the preparation of your commercial and logistic strategies to be made on the basis of an exhaustive research of all available countries.
3. Know the real market prices
If you want to be at an advantage in doing business, you must know the real price of the products. Veritrade allows you to obtain data on the actual price at which each good or product was sold, and the information can be obtained for each shipment of each product, company or country.
Also, with the My Products and My Companies functions, you can generate instant charts of the items or companies of your interest, which allow you to observe distributions in pie or bar charts and key indicators. The following chart is just a sample of the different alternatives of the platform.
With this you will be able to perform a large number of optimizations such as complementing news searches on international quotations with real and accurate data, taking advantage of the windows generated by the variation of the price of a product in a specific market, and more.
4. Database update alerts
Being informed before the rest will put you one step ahead in the market. Veritrade can send notifications whenever information about a product or company of your interest is updated. The Verialerts feature allows you to schedule alerts for items registered in the My Products or My Companies functions.
In this way, the areas concerned can be ready to wait for the price increases they so badly need to place stocks they have been holding back, you can find out about variations in your local or regional competitors' exports, or your purchasing area can take advantage of drops in prices in the global market. Likewise, if exporters of a seasonal product in another country have performed well in a specific market, you will be the first to be ready to take advantage of the window of opportunity that opens up at the close of their campaign.
5. Practical, easy-to-use platform
Gaining time is gaining value, and our platform will save you hours of research. To find the information you need, you only need to enter two filters in the tool's search engine and then specify the time range for which you want to do the research. For example, the following image shows the search for Chilean medicine imports from Germany in 2020.
And just by clicking on the green Search button, the system will give you in a matter of seconds several charts and graphs with the details of imported products, importing and exporting companies, brands, destinations, ports of exit and entry, and the detail of all shipments in amounts and units of mass or volume. This is an example of the information of the most imported products by Chile from Germany:
Using Veritrade is as easy as that, don't wait any longer.
Information on all foreign trade around the world can be in your hands today.
Start discovering all the benefits of Veritrade for your company by creating a free trial here: https://bit.ly/VRTFreeTrial