Global trade automation
Successfully balancing the demands of a global trade function requires careful oversight of multiple events in numerous countries. Whether it’s monitoring on-time delivery statistics or evaluating compliance risks and potential cost savings, having the right data is essential. But obstacles to capturing the necessary information are many, including:
- Lack of data normalization – inadequate processes to aggregate multiple forms of data to inform business decisions
- Absence of strategic vision – failing to benchmark the trade function against industry-leading practices
- Lack of connectivity to available IT resources and automation tools – a disconnect between existing resources
- Backlogs of trade agreement and classification work – varying work flows that make it difficult to allocate resources appropriately
Companies often resort to manual processes to track information. Instead of focusing on strategic initiatives, professionals are mired in low-margin, highly repetitive tasks that are subject to error. The consequences of reporting the wrong information to customs officials are steep, from penalties and cost overruns, to detained goods.
Integrating software to automate the collection of global trade data and the fulfillment of compliance processes reduces risk and offers greater efficiencies and potential cost savings. EY’s Global Trade Automation services can help businesses achieve these goals and uncover additional opportunities, from streamlined operations, to the ability to maximize free trade agreements and duty reduction programs.
It starts with a comprehensive review of IT, trade, logistics, procurement, sales and legal departments to determine which tasks are best suited for automation. We also review the existing compliance footprint to help discern whether an in-house or a managed services operation would be the best approach.
We help clients by providing:
- Vendor-agnostic business case development
- Software selection and development of organizational target operating model
- Full application lifecycle support and process implementation
- Training and go-live support
- Enterprise project management
- Post-implementation sustainment
- Managed services
- Systems and process reviews for transaction activities
EY’s Global Trade Automation services are scalable, from maximizing internal resources and software to implementing a suite of new initiatives.
Global Trade Automation is led by EY’s Global Trade practices. Our Global Trade Automation services team includes more than 750 member firm professionals with experience in more than 140 countries. Together they offer a multidisciplinary approach. With backgrounds in tax, technology and international trade regulations, we have the global knowledge to help clients wherever they do business.
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