The role of the global trade compliance professional has evolved dramatically in recent years. A role that a decade ago seemed more as a back-office function with little visibility in the organization is now gaining more and more significance in leading corporations.
What each compliance professional must ask himself is: “Do I have the trade platform, controls, and processes necessary to communicate at an executive level within my organization?” or “Am I so busy running around putting out fires with disparate systems and processes that I can’t even explain what I do, much less articulate to my executive team how trade data could add value to the company and expedite innovation?”
A trade compliance professional must understand the company’s products in order to classify them. They must understand how their finished products are made in order to qualify them for trade agreements. They must know the company’s suppliers in order to manage programs such as Customs-Trade Partnership Against Terrorism, the Authorized Economic Operator program and free trade agreements. They must screen the company’s customers to comply with export regulations. They must interact with all of the players across the supply chain. They must not only understand the cost of their products, but also understand the construction of these costs as value is added globally.
The trade compliance professional that can demonstrate that he has the data, knowledge and visibility to enable his organization to make more informed decisions will elevate his career to a new level.
Global trade, free trade agreements, regulations and security have never been more relevant in the minds of the C-suite. Companies that understand the potential of having the right global trade management strategy will operate at an advantage, and the trade compliance professional that can deliver this advantage to his company will be invaluable.
Tom Barnes, CEO, Integration Point