Blog

global trade automation
Traci Dunn is Security and GRC Architect at Pinary, where she has overseen Governance, Risk, and Compliance implementations for dozens of businesses. She knows that businesses need to implement access control to manage risk properly.
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If you’ve worked in IT for any decently-sized organization or attended major IT conferences, then you’ve likely heard of ERP implementation successes, best strategies for ERP project management, or methods to gain additional value from ERP investments. Publicly, however, you won’t hear of implementation failures.
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These days, protecting your business means protecting your data, your processes, and your overall operations, which translates to creating and maintaining a Compliance Management System (CMS). Understanding the full expanse of compliance from security, governance, risk, and policy to your global trade aspect of import/export both domestic and globally is daunting, but absolutely necessary. Wading through the vast land of IT, industry specifics, and global trade regulations quickly becomes an overwhelming process and convoluted with information overload. It becomes apparent that a CMS program can become quite unwieldy and requires a better system of management. Thus, many if not all,
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Great journeys require a guide: Someone who knows the lay of the land, can steer through rough waters, and deal with unexpected obstacles—all while moving the voyage forward. The same is true in global trade. The enormous possibilities opened by global trade are matched only by the unprecedented logistical complexities it has created.
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Any enterprise starting an international trade initiative faces a business reality: There are a lot of rules and regulations that affect international trade. If your organization is expanding shipments abroad, you’ll need proper processes and controls to ensure international trade compliance. Getting those processes and controls right takes expertise and experience.
global trade automation
Maintaining compliance is a large challenge for businesses engaged in global trade. Trade agreements and associated items such as tariffs, customs licensing, and port duties can change with little notice. To tackle the challenge of compliance management, you must clearly understand your business processes and correctly evaluate all of the ERP functions you’ll need. That includes relevant trade regulations. The idea is to use a compliance software to close gaps within your business processes.
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Too often, organizations discover after they’re up and running that their SAP GTS implementation is not being used fully—which means they’re not getting the ROI and performance they need. Reasons include missing components and modules, undocumented processes, and overlooked free trade agreements (FTA). This presents enterprises with a checklist for realizing the full benefits of SAP GTS.
global trade automation
Regardless of your industry, the growing number of regulations impacts every part of your organization. Executives and managers now devote a growing amount of time and budget in order to...
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Global trade introduces tremendous growth opportunities that, if not managed properly, can also introduce significant risk. Global trade is governed by an endless stream of rules, regulations, and policies. At any time, for political or security reasons, these requirements can limit or prohibit trade with certain companies, countries, organizations, and even individuals. Thankfully, prohibitions are detailed in denied party (DPL) or sanctioned party lists (SPL), which are regularly updated by government agencies. It is important to know what these lists contain, how to interpret them, and how to devise an automated solution to manage them.
global trade automation
Regulations backed by the threat of fines and sanctions demand consistency in managing enterprise risk and compliance. No longer can you use siloed, antiquated, informal methods of spreadsheets, databases, or other home-grown tools to meet compliance requirements.