Globalization is redefining the way companies do business. In a context in which the market is marked by immediacy and connectivity, more and more companies are expanding beyond their borders. To this end, trade agreements with international partners enable them to access new markets, optimizing their supply chain and offering a more competitive value proposition.
In today’s article we explore how the digitization of trade agreements is becoming essential to ensure agility, security and regulatory compliance.
Spanish products and services arouse interest abroad
E-commerce is growing in Spain. As revealed in a recent press release from the National Commission for Markets and Competition (CNMC), published in April, online transactions have grown significantly in recent years. Thus, in 2024, revenues amounted to 4.15 billion euros, 6.4% higher than in the previous year. If we take the third quarter of last year as a reference, we are talking about a turnover that exceeded 24.5 billion euros, the result of more than 442 million transactions.
Of these operations, only 35% will remain in the national territory: almost 7 out of 10 sales and purchases (65%) are destined abroad. This means that Spanish companies obtain 57.2% of their revenue from abroad, mainly from countries belonging to the European Union (59.5%), the United Kingdom (9.7%) and the United States (9.2%).
These figures reaffirm Spain’s position as one of the most interesting e-commerce markets in southern Europe, with prospects for continued growth.
Most digitally processed commercial documents
In order to successfully carry out commercial operations both inside and outside Spain, numerous documents that are fundamental in the supply chain are handled on a daily basis. With them, every moment of the transaction between two or more parties is reflected. Terms such as purchase order, bill of lading, cargo insurance document or warehouse receipt are some of the key to correctly understand how the exchange of goods works.
However, the buying, selling and transportation processes require agility to avoid delays or inconveniences that may hinder the business opportunity. For this purpose, technology is very useful and, depending on its use, it will be used at one point or another in the process. At the document level, the following are the most common documents that are usually processed digitally:
- Sales contracts
- Purchase orders
- Commercial agreements
What is a trade agreement?
According to the insurance company Crédito y Caución, a trade agreement is an agreement between two or more countries or economic entities that is carried out with the objective of facilitating international trade, increasing competitiveness and promoting economic growth, as well as improving the economic and institutional relations of both parties.
The practices involved in a trade agreement may include “the reduction or elimination of tariffs, trade barriers and investment restrictions, the protection of intellectual property rights, and cooperation in areas such as regulation and competition”.
Although a trade agreement is often referred to at the institutional level, it is also a common practice between two or more companies. In this case, the contract usually covers the purchase and sale of goods and services, collaboration on specific projects, technology transfer or foreign investment, among many others.
Secure remote transactions
For the relationship between companies to run smoothly, it is essential to rely on technological tools that streamline processes and make the experience convenient for distributors and end customers. At this point, the electronic signature becomes an interesting solution for companies located in different areas or countries to sign agreements online, facilitating their strategic operations.
Its benefits are diverse and it plays a very important role in the formalization of commercial agreements:
- Faster operations. By signing agreements or closing business transactions digitally, it is not necessary to travel.
- Document validation. It is possible to obtain information about the moment of validation, including aspects such as who has signed, when and the validity of the certificates used. Before signing, we can also validate it.
- Consultation of modifications. You will be able to check if the document has been altered or modified after signing.
- No border limits. Wherever the other companies that will be part of the commercial agreement are, they will be able to sign without any problem, since we comply with the strictest international digital signature and trust services regulations.
- Reduces fraud. The technology used incorporates encryption mechanisms that uniquely link the signer’s identity to the document in question.
The future of commerce is digital and borderless
The transformation and activity that e-commerce is experiencing in recent years has led to new ways of offering services and products to the market. Carrying out trade agreements and strengthening relationships with other companies is a highly attractive option for your company to continue growing, both nationally and internationally.
If you want to complement your value proposition in the commercial agreements that your company makes, we can help you. Viafirma is a qualified and trustworthy electronic services provider, recognized by the pertinent organisms and that rigorously fulfills the requirements defined by the eIDAS Regulation. We help companies to speed up the management of their documentation, providing authenticity and security in the operations.
Empower your business! Contact us and find out more about our products.