2016-12-11 00:00:00 Running a Business English Look at tools that can help you make foreign sales. Review tools to help with currency exchange rates, translation, and exporting. https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/10/Using-Technology-to-Increase-Foreign-Sales.jpg https://quickbooks.intuit.com/ca/resources/business/how-to-use-technology-to-increase-foreign-sales/ How to Use Technology to Increase Foreign Sales

How to Use Technology to Increase Foreign Sales

2 min read

Thanks to the internet, you no longer have to restrict sales to your hometown or even your own country. If you want to boost your revenue, it may be time to expand your operations to the rest of the world. This process is easier than it ever has been, even for small business owners. As well, there are a range of tools that can help you to boost foreign sales.

Translation Services

If you want to reach non-English speaking markets, you may need a translator. These professionals can help translate websites, brochures, labels, apps, or anything else you need. Rather than spending money advertising for help and screening potential clients, consider looking into a service such as ICanLocalize. This company uses crowdsourcing to match you with professional translators who charge relatively low rates per word.

If you want audio files translated, consider using a service such as Acapela Box. Similar to Google Translate, this service allows you to enter text and choose a language. Then, it translates the text and generates an audio version, which you can adjust for pitch, speed, and other factors. Making the recording is free, but if you want to download it and use it, the price is based on the length of the audio. As of 2016, it starts at 5 Euros for 47 seconds.

Location-Based Pricing

Location-based pricing is a useful tool built into many ecommerce platforms. It senses the consumer’s location and adjusts prices accordingly. This allows you to create different prices for different areas depending on the demand or the cost of getting goods to those places, which can help minimize risk as you expand into new markets.

Conversion Tools

As an international vendor, you can sell everything in Canadian dollars. Basically, your clients make the purchase in Canadian currency, and their credit card providers charge them a small conversion fee. However, even if your clients are willing to pay in Canadian dollars, they don’t necessarily think in Canadian dollars.

To make shopping easier for your customers, consider using an exchange rate tool. Some ecommerce platforms include these tools, or you can embed a free currency converter such as Dynamic Currency into your website. To see prices in their local currency, shoppers simply need to select their country from the drop down list.

Import/Export Tools

If you are exporting goods to international clients, you have to be sure that you understand Canada’s export guidelines. These rules cover everything from restrictions on exporting bear gallbladders to submitting declarations before your products leave Canadian soil. However, once you understand the rules, you can streamline the exporting process with online tools.

To meet your reporting requirements a bit more easily, consider using the Canadian Automated Export Declaration portal. Additionally, you can remit tax and duties to the Canada Revenue Agency for these sales online through My Business Account. Finally, you may want to use accounting software that can handle multiple sales tax or export duty rates. This ensures that the accounting process stays relatively straightforward, even after you start making international sales.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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