Export activity provides immense opportunities for growth, stability and profit. With this opportunity comes risk and it is no secret that one of the largest risks any company faces when trading is compliance. Not only does international and national law & regulation continually shift and change, but stricter supervision and cooperation amongst authorities increases the burden of responsibility for compliance staff. Even brief application or processing delays can mean reduced revenue, profit, lost market share, and strains on valuable trading relationships.
Due to the complexity of modern supply chains, the role of technology continues to be increasingly important in not only supporting the compliance system but streamlining and automating processes. But the financial climate means companies can’t afford to simply throw money at implementing technology, it has to show bottom line returns and in addition any technology needs to be administered by employees who individually contribute to the integrity of the system.
So this poses an interesting question which compliance professionals the world over work daily to solve. How do you effectively manage automated systems, processes and staff, whilst saving money for your company?
Join us at one of our seminars in 2012 where we will explore this challenge in greater depth. Please also join ‘The Export Compliance Group’ on Linkedin and subscribe to the newsletter for regular updates!