Help for piecing together the trade compliance puzzle

This article highlights four areas where managed services can offer significant benefits.

Andrew Siciliano

Andrew Siciliano

Partner, Trade & Customs Lead, KPMG US

+1 631-425-6057

Global trade is a complex puzzle of ever-changing government regulations and rules, cross-border documentation, fluctuating currencies, diverse cultures, preferential benefits, and constantly changing trading partners. It is also risk-inherent and challenging, creating significant exposure and liability for multinational companies and their key decision makers.

To further complicate matters, a majority of multinational companies involved in international trade lack the technology and bandwidth necessary to protect their companies, reduce disruptions to supply chain, and meet customer demand while remaining compliant.

Yet, trade compliance is a critical element of conducting global business, and it has become increasingly difficult for multinational companies to manage trade compliance without the support of a qualified trade compliance managed services provider.

Some of the specific challenges include: day-to-day global trade compliance monitoring and support, managing free trade agreements, restricted and denied party screening, harmonized tariff schedule or export commodity classification number determinations, and pre- and post-merger and acquisition activities.

Help for piecing together the trade compliance puzzle
If your company buys, sells, or manufactures products in multiple countries, you know that establishing and maintaining efficient cross-border operations poses a complex challenge. The dynamic global environment—with shifting regulations and trade policy as well as variable economic, market, and competitive forces—compels global companies to continually adapt to changing rules.

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