Unlocking Savings: Tips for Your Canada Post Commercial Invoice
Part of maintaining the success of your business is to keep an eye on your expenses!
Whether you’re spending money on manpower, supply, or production to run your company, you should always keep track of areas where you can get potential savings.
Now, this might come as a surprise to you — but did you know that shipping costs can consume 15 to 20% of your company’s total net sales?
Wow. That’s a big chunk of revenue you could’ve used for the growth of your business, right?
It just shows that if you play your cards right and learn effective strategies to reduce your shipping expenses, a lot of money can be saved.
Ah, don’t worry because that is precisely why we’ve created this blog for you. And guess what — we’re starting with your commercial invoice with Canada Post.
Whether you’re already a pro or just starting to navigate the world of shipping, we’ve got some exciting news that will definitely get you at the edge of your seats!
So, are you ready? Join me as we unlock hidden savings within your Canada Post Commercial Invoice!
Manual Method: Uncovering Savings in Your Existing Canada Post Invoice
Today, we’ll be discussing two methods on how to unlock savings for your Canada Post Commercial Invoice — the first one is the manual method and the second is the advanced method.
Let’s begin with the manual method. This intelligent yet straightforward approach is very simple to understand, but on the other hand, it takes longer to execute.
So basically, you’ll need to access your own Canada Post account and start compiling all your invoices over the last six months.
Why? So you can analyze, compare, and identify patterns from the invoices which can be helpful for you to save shipping costs!
You may be wondering — “Where do I begin?” Don’t worry, we have a step-by-step guide to help you through the process:
Step #1: Gather Your Data
The first thing that you have to do is simply go to your email inbox, and search for the invoice reports that Canada Post sends to your account on a weekly or monthly basis.
If you’re having trouble finding the invoice reports, you may try contacting your Canada Post Representative or Customer Service to help you out!
Usually, the invoice reports are already available within your Canada Post interface. But there are times when that functionality isn’t activated.
In that case, make sure to seek help from Canada Post’s Customer Service on how to activate that function. Why? Well, it allows you to easily access all of your invoices, including the older ones, in the same place.
Alright, once you’ve done tracking all the files, we’re heading to step two!
Step #2: Choose Your Format
Now, you can receive these invoice reports in different file formats — the detailed version in PDF or the summarized version in both PDF and CSV files.
If you ask me, it’s better to use the CSV or Excel versions because it’ll be easier to extract and analyze the data. One thing about extracting data from PDF files is it’s much more complicated and takes a lot of time — so, we don’t want that!
Oh, you can actually request your representative or Canada Post customer service to regularly send you the CSV version instead.
Alright, once you’ve gathered all six months’ worth of your invoice reports in MS Excel or Google Sheets, make sure to compile them in one master file.
Discovering the Hidden Savings: Three Significant Surcharges
Now that we’ve compiled all your invoice reports in one place — it’s time to go hunting! But, what are we hunting for, exactly?
Today, we’ll be closely looking for surcharges. Yes, these are the secret keys to unlocking huge savings for your company. So make sure to pay attention as we discuss each of them!
Insurance Coverage: Unmasking the $100 Cover-Up
When you ship a package with Canada Post using one of its services like Expedited Parcel™, Xpresspost™, or Priority™, it automatically comes with an Insurance Coverage of up to $100.
Take note that the exact value depends on the declared value of your item. But be careful — make sure that you always declare the value of your package because if not, this insurance coverage will be voided!
Now, the extra charges begin when the declared value of your package exceeds $100. Why? Because additional insurance coverage will be billed to your account.
You may be thinking — “I don’t see a problem there. Of course, it’ll need additional insurance coverage because it’s more than $100.”
Okay, you have a point. But wait until you hear this story — We had a customer who systematically paid additional insurance coverage for one whole year.
Yes. Basically, he took the extra insurance for every single package that he shipped because he didn’t want to cover the expenses of the product being damaged or broken.
So when we analyzed his shipping profile, we noticed a pattern. We discovered that he paid a total of $20,000 worth of additional insurance fees! So we asked him — “How many claims did you secure last year?”
And you know what? He only claimed twice. He paid a total of $20,000 worth of additional insurance just to have 2 claims in one year!
Ah, that’s a lot of wasted money! So he stopped availing of the additional insurance and just relied on the basic $0 to $100 insurance that comes with the shipment. By doing this, the company already saved $20,000 for the year.
See? Totally worth it. But hey, if you’re uncomfortable with removing the additional insurance, there are cheaper options outside of Canada Post Insurance that are still as reliable.
Volumetric Equivalence: The Empty Box Mystery
Another surcharge you need to look out for is the Volumetric Equivalence. It’s also called Volumetric Weight Surcharge or Dimensional Weight. So, what is it exactly and why is it important?
Basically, it refers to the weight assigned by Canada Post based on the dimensions of your empty box. Now, if your box is too big for the declared weight of your product, there’s a high chance that you’re paying too much.
Why? If you look at the Excel file, you will see that Canada Post usually rounds up the declared weight of your products.
Let’s say you declared one package to weigh 5 lbs and you’re using a box that’s too big for the product.
Since your box is too big, Canada Post will assume that your package weighs more than 5 Ibs, which means that they will round up the declared weight of your product!
Of course, now that the declared weight of your package is heavier than it should be, you will end up paying more than you should. Got it?
What’s worse is that a higher Volumetric Equivalence also means a higher Gasoline Surcharge. Now that’s a lot of additional expenses!
The solution? Optimize your box sizes to save on volumetric weight and fuel surcharges! We also discovered that leaving a space of two to three centimeters around your product could increase your shipping charges by 6-8%.
So, reduce the size of your boxes to be as close as possible to your products. It works!
- Auto-Billing Surcharge: The Manifest to the Rescue
The third and final surcharge, which is the easiest one to avoid, is Auto-Billing. Now, this surcharge revolves around what is called a Manifest.
So, what is a Canada Post Manifest anyway? It’s essentially a document that contains a compilation of all your packages for the day. Also, it’s a time-saving genius that proves to be a massive help for Canada Post employees.
How? Let’s say that you normally ship 100 packages a day — When the employee comes to pick them up, instead of manually scanning the packages one by one, he will simply scan the manifest and it’s ready to go.
Now, the Auto-Billing Surcharge takes effect when you fail to submit the manifest to the Canada Post employee. It might seem simple, but committing this mistake according to prices shown by Canada Post on March 2023 costs $2.00 per package. That’s already $200 for 100 packages!
The good news? These penalties are totally preventable. You can try using software like Ship Station, which has a feature that helps you easily create a manifest for all the shipments you prepared using the software. And just like that, you can already save a lot per package.
Make sure to review your Excel file and look for these Auto-Billing Surcharges. Trust me, you’ll never forget your manifest ever again!
Advanced Method: Accessing Valuable Insights and Cost-Saving Opportunities
I know what you’re thinking. The manual method seems too time-consuming and stressful to handle, right? Especially if you’re a busy person who runs the day-to-day routine of your company.
That’s why I’m giving you — the advanced method! This is a technique that one of our clients used to save a total of $20,000 despite having the “best shipping rates”.
What’s even better is that you’ll have access to tons of valuable insights, data, and cost-saving opportunities to maximize your company’s profitability.
Are you ready? Here comes your secret weapon — the Buster Fetcher® Analysis and Comparison Report!
The Buster Fetcher® Analysis and Comparison Report: Your Shipper's Secret Weapon
During the pandemic, we interviewed a lot of our clients and most of them agreed on one thing — that the world of shipping is indeed a complicated place.
It’s like a black hole or the Bermuda Triangle, where nobody seems to really understand how it works. But with the help of the Buster Fetcher® Analysis and Comparison Report, all of the mysteries in shipping will be solved.
When you order the report, you will receive two separate files:
An Excel file containing all the packages you shipped along with relevant information. This is the same information you will get after spending hours doing the manual method, and more!
A PDF file has more precise data based on our analysis that you won’t be able to find anywhere else.
Mind you, this report gives an exclusive in-depth overview of your shipping profile. Analyzing every bit of useful detail such as carrier information, tracking numbers, shipping dates, weights, dimensions, delivery zones, and more!
Getting your hands on the Buster Fetcher® Analysis and Comparison Report is like having the blueprint for your company’s maximum profitability.
Why? By gaining a clearer picture of your shipping operations, it’s now easier for you to pinpoint areas you can optimize and eventually have huge potential savings.
Identifying Potential Savings: Unveiling Hidden Goldmines
The best part? The report doesn’t stop at just providing information. It also acts as a treasure map leading you to goldmines containing potential savings!
How? It expertly highlights and explains all the areas where you might be losing money and offers justifiable solutions to reduce your expenses.
Hey, it also presents lots of valuable insights to optimize your shipping strategy by avoiding potential surcharges imposed by Canada Post.
For instance, the report might suggest reclaiming refunds for late delivery fees, adjusting box sizes to reduce volumetric weight charges, or even renegotiating carrier rates based on the latest trends in the market.
Oh, and get this — with our software, Buster Fetcher® is now able to see if you’re overpaying for your shipping rates based on the exact same volume, delivery zone, service, and weight that’s being used among your competitors.
See? These hidden gems are priceless when you realize that they can lead to significant savings that your business can absolutely use.
A Win-Win Approach: Ordering the Report
If you’re searching for the most cost-effective way to access valuable data to streamline your shipping operations with Canada Post, then look no further.
For only $349 (plus tax), the comprehensive report offers a tremendous return on investment. You can potentially save thousands or even tens of thousands of dollars, just like what one of our clients achieved!
Oh, and not to mention hours or maybe days of manually extracting and interpreting data using the first method. If you ask me — I’d rather pay $349 to have the key to the treasure chest than spend forever finding the needle in the haystack!
With this report, you'll have a newfound competitive advantage to win the shipping game. No doubt!
The bottom line — the Buster Fetcher® Analysis and Comparison Report is the ultimate key to unlocking your savings from Canada Post Commercial Invoices.
Optimizing Your Shipping Costs: Conclusion
If you think about it, creating an efficient and cost-effective shipping operation doesn’t have to be a complex task. With proper knowledge and proven strategies, it’s totally possible!
So never let complicated shipping charges and expenses limit your company’s success ever again. Achieve maximum shipping efficiency and profitability by following expert tips, tricks, and strategies to optimize your shipping processes from Buster Fetcher®!
Or better yet, take the next step towards winning the shipping game by:
- Getting the Buster Fetcher® Analysis and Comparison Report: Make your best investment and unlock valuable insights and advice from experts! This report is created to help you make informed decisions and drive your business further toward success!
- Subscribing to Buster Fetcher®: Keep the momentum going! It only takes 5 minutes to create an account that will forever change your company’s shipping strategies.