Day: July 3, 2020

Blog: Global Trade Management Systems: The Strategic Benefits To Your Company

Global Trade Management Systems: The Strategic Benefits to Your Company

A company that uses a global trade management software system can reduce the costs, risks and delays associated with manual compliance and tracking efforts.

If your company imports or exports physical goods or digital products, or conducts global e-commerce, there is a strong chance that you will need some form of global trade management (GTM) system. Despite this being an essential requirement, companies of all sizes still try to manage their global trade and logistics manually, with employees having to resort to dealing with the arduous task of analyzing spreadsheets packed full of data.

Blog: Navigating International Trade Challenges

Blog: Navigating International Trade Challenges

Integration of national economies contributing to globalization has been one of the most important developments of the last century and led to tremendous growth in trade between countries. Exports today are more than 4,000-times larger than they were a century ago. New technologies in this modern age have made the world a more accessible place than ever before, drastically increasing complexity in international trade.

Blog: Uk Sanctions Post-brexit – 3 Things You Should Know

Blog: UK Sanctions Post-Brexit – 3 Things You Should Know

No one can predict what will happen after October 31st,  and with the situation remaining fluid the impact that upcoming UK sanctions will have on business remains unknown. This uncertainty has resulted in many organisations failing to prepare for the impending exit from the European Union and many are finding that they may not have systems in place or resources available in case of a “No Deal” scenario.

Blog: What’s The Cost Of An Ofac Compliance Violation?

Blog: What’s the Cost of an OFAC Compliance Violation?

National Oilwell Vargo Inc. (NOV), a houston based drilling company, agreed to pay a criminal fine of $25 million to the Department of Justice (DOJ) under the Non-Prosecution Agreement entered with the U.S. Attorney’s Office for the Southern District of Texas. This was a result of a settlement reached with DOJ, DOC, OFAC for violating trade sanctions by selling and exporting goods to Iran, Cuba and Sudan starting from the year 2002 leading upto 2009.

Blog: Compliance In Times Of Tpp Discussions

Blog: Compliance in Times of TPP Discussions

With Brexit and other global economic and political uncertainties, concerns among exporters in almost all industries are on the rise. The ongoing strength of the US Dollar continues to make it harder to export goods and services. The uncertainty of the presidential election adds additional stress to the situation for Exporters and Importers. About 40% of exporters believe the momentum from President Obama’s export program will carry over to the next president, while the majority believes Trans-Pacific Partnership (TPP) and other key Free Trade Agreements (FTAs) will be blocked.

Blog: Export Compliance And New Business Development

Blog: Export Compliance and New Business Development

American Shipper discussed in its latest Export Benchmark Report the main concerns of Exporters. Not very surprising small & medium sized as well as large shippers have in common that the increase of costs of compliance are one of their main concerns. For large shippers this is equally concerning as the increased import enforcement at destinations and the delays at customs.