Questaweb, a US-based provider of global trade and logistics management solutions, has announced that the latest versions of its global trade management system will totally automate the letter of credit (L/C) process as a standard, fully integrated feature.

The automated L/C functionality will not be confined to new Questaweb clients since the company says that existing users of its software will be able to upgrade to access the new feature.

Automated L/C process

The New Jersey-based firm says that from the launch of TradeMasterQW 4.0.31, the firm's ImporterQW and ExporterQW modules will totally automate the L/C process.

Moreover, the company that claims the world's largest pharmaceutical company, Pfizer, amongst its clients says it will automatically upgrade existing customers' ImporterQW and ExporterQW modules to include this functionality at no additional charge.

L/Cs more important

According to Questaweb, as an increasing numbers of companies look overseas to manufacture their products, L/Cs have become an even more important business instrument because they provide assurance to seller and buyer alike.

The company reckons its solutions cope with frequently changing purchase orders and the impact these have on L/C amendments and claim their system will help importers avoid errors and delays from missing, inaccurate or inconsistent documentation.

This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.