International Trade Compliance, Made Easy
Streamline Your Global Trade Compliance Processes
Changes in trade regulations, sanctions and restricted parties along with the growing complexity of trade laws and regulations make global trade compliance increasingly challenging.
Supply chains have become global, and an increasing number of companies are engaged in cross-border shipping. Trade compliance departments are equally challenged with both the growing complexity of trade laws and regulations, as well as effectively managing the sheer increase in shipment volumes. As a result, more companies are turning to automated international trade compliance software.
Ensuring each an every cross-border shipment is compliant is a labor-intensive process, and mistakes are costly. Authorities can and do impose heavy fines for compliance missteps, and companies suffer reputational damage as well as financial penalties. Trade compliance software gives companies greater control.
The PRECISION global trade solution starts at the very beginning of the export sales process. With PRECISION Automated Global Trade Compliance Software global shippers can perform due diligence, streamline trade compliance, mitigate the risks associated with dynamic trading environments, control costs and create audit-ready electronic reports.
Key Features of Precision Global Trade Compliance
- Verify trading partners
- Remain up-to-date with Denied Party Lists
- Determine End Use
- Validate the country of destination
- Ensure that any special documentation or actions are included
- Leverage automatic alerts and system holds
- Access key performance indices for operational visibility
- Perform due diligence
- Create electronic audit trails
- Reduce false positives
Screen, Verify and Validate
Vet Every Export Automatically
By implementing PRECISION Automated Global Trade Compliance Software at the very beginning of the export sales process, automated workflows can vet key elements of the transaction to ensure that the sale can proceed. Leverage PRECISION to verify that the trading partner has passed DPL screening, determine the End Use of the item, validate that the country of destination has been approved and ensure that any special documentation or actions are included to support your reporting to authorities.
Leverage Automated Alerts and System Holds
Satisfy All Regulatory Controls
PRECISION provides automated alerts when a shipment or trading partner is subject to special regulatory controls. Through smart business rules, workflow tasks, escalations and due dates can be assigned to the proper resource. PRECISION ensures all export controls have been satisfied before the shipment is released.
Improve Operational Visibility and Management
Get Data-Driven Insights
Data driven visibility tools are critical to developing internal key performance indices and management reports. PRECISION global trade software analytics provide on demand dashboard views of key operational statistics, metrics and trends, such as the number and types of shipment holds and Denied Party Screening volume.
Perform Due Diligence and Be Audit-Ready
Always Have Audit-Ready Records
An inherent necessity of your export trade compliance program is the ability to mitigate the risks associated with regulatory compliance. From the start of the sales export process PRECISION’s trade compliance software vets key elements of the transaction to ensure that the sale can proceed and creates an electronic audit trail and audit-ready records to support your reporting to authorities.
Best-in-Class Global Trade Compliance Software
PRECISION Automated Global Trade Compliance Software is used by high volume, high value and time-sensitive global shippers. Precision Software’s customers span multiple industries including banking and finance, life sciences, high technology, retail, industrial, automotive, higher education and public sector as well as logistics providers.
To find out how PRECISION can streamline trade compliance across your organization, schedule a consultation today.