In today's economy, not only are timelines shorter and cost margins tighter, but the burden of responsibility for compliance is heavier and now rests solely with the importer.
In this increasingly complex and changeable regulatory and business environment, gaining control and visibility over importing processes has become even more critical to a healthy bottom line.
Reducing Compliance Errors
Companies cannot afford the cost of compliance errors such as tariff classification mistakes, missing or inaccurate trade agreement certificates, or prohibited suppliers.
That's why there is increasing concern with current and comprehensive resources to ensure accurate and optimal tariff classification,
with supporting rulings and associated documentation; robust import documentation management solutions; ongoing screening against U.S. Treasury Office of Foreign Assets Control (OFAC) Specially Designated National (SDN) list,
the Department of Commerce Bureau of Industry and Security (BIS) denied persons, unverified and entity lists, and the Department of State Directorate of Defense Trade Controls (DDTC) debarred list and nonproliferation sanctions lists.
Increasing Compliance Efficiencies
Companies can also no longer afford the cost of inefficient importing business processes such as reconciling transactions from multiple brokers, redundant data entry for ISF 10+2 and NAFTA eligibility,
out of date support for sourcing decisions, paper-based audit trails, and ineffective communication flows and controls.
The re-engineering and learning curve needed to ensure your proof of due diligence is at hand and that business process yield meaningful competitive advantages may seem formidable.
Yet with appropriate technologies, you can establish a streamlined, efficient, auditable import transaction flow that leverages detailed product knowledge and stored information,
and facilitates communication with others in your supply and compliance chains.
How we can Help
Visual Compliance provides robust, cost-effective automation solutions and regulatory content to manage all of these aspects of foreign trade compliance. With over 30 years of experience helping companies easily gain control and visibility over their import compliance issues and processes,
our solutions are relied on by more than 4,000 companies at home, and abroad to:
- Determine and manage Tariff Classifications with comprehensive rulings and resources
- Create or manage import documentation
- Effortlessly participate in electronic filing (ABI)
- Manage ISF 10+2 requirements
- Manage NAFTA and other FTAs
- Meet eManifest requirements
For more information, call toll-free 1-877-328-7866 and talk to one of our foreign trade compliance consultants. They'll help you analyze your requirements, evaluate your options, and provide focused demonstrations.
Or send an email.
