In 2015, import-export compliance will be a primary focus of global trade initiatives. Driven by this U.S. Customs and Border Protection priority, U.S. companies will, out of economic necessity, pay renewed attention to comprehensive global trade management systems that automate their supply chains and assure regulatory compliance.
CBP has set November 2015 as the date by which most import-export filings must be done electronically via the Automated Commercial Environment. At the same time, CBP is developing programs, such as trusted traders, whereby importers can receive special accommodations in exchange for following detailed procedures. Plus, CBP’s vigilance over foreign trade zone compliance will continue in 2015, heightening the need for timely and accurate records/reports in exchange for duty deferral and other benefits.
The year 2015 will be marked by across-the-board corporate recognition that dealing with each import-export issue as an isolated problem and purchasing a solution to perform classifications, technology for visibility, tools for tracking, content from numerous sources, etc., are tactics belonging to a bygone era. Companies will recognize they cannot operate successfully with myriad pieces that cannot interact with each other — especially spreadsheet-based solutions — or multiple silos of information. The compliance-driven environment of 2015, particularly with the prospect of delays, fines and penalties, eliminates this business approach.
Successful companies will centralize all their information in one automated GTM system that integrates with their ERP and WMS; generates documents and reports automatically; and updates content regularly. The resultant supply chain visibility will enable them to better manage their products, logistics, compliance, FTZs and more. And, their GTM technology will allow them to leverage CBP programs that facilitate products getting to market sooner and more economically.
Vendors who offer robust, up-to-date GTM technology that comprehensively addresses every facet of global trade should see their businesses prosper in 2015.
Wayne Slossberg, Seniro Vice President, QuestaWeb