The management of global data and trade transactions represents a vital function for businesses that import and export goods in the world market. To keep pace with an ever-changing global trade regulatory landscape, successful businesses require strong and flexible global trade compliance and assessment processes.
As supply chains brace to meet stringent compliance and security measures, companies engaged in global commerce must continually raise the bar for import and export processes. Even a small documentation error can turn into a serious problem. What may have resulted in a minor cargo delay in the past could today result in a major supply disruption, seizure, steep penalties and a hit to a company’s reputation.
In today’s volatile and ever-shifting economy, proper trade risk management is essential to the financial, operational and reputational well-being of companies engaged in the movement of goods and intangibles across borders.