Master data for trade compliance is essential in order to effectively manage and streamline trade compliance activity. Yet, few companies have the ability to systematize master data and streamline trade compliance processes and dramatically increase accuracy and timeliness of filing activities. Enterprise solutions are incredibly rigid and lacking in the ability to provide product and account management for Trade Compliance. Even more puzzling is the lack of GTM solutions that support Master Data from the unique trade compliance requirements.
With Master Data for Trade Compliance you are able to store all your Account Names, Addresses, Related Parties, DPS and Social Compliance in a single record. You are able to manage product classifications, BOMs, and Trade Content in a single source and provision it to your ERP master data.
Why you need Master Data for Trade Compliance:
- Customs and PGAs see Products and Accounts differently from Sales, Purchasing, Inventory and Finance.
- Enterprise systems and most GTM solutions lack the functionality or the flexibility to support Product and Account master data from a Trade Compliance perspective.
- Spreadsheets are a terrible way to manage Master Data for Trade Compliance.
- You can’t improve trade compliance processes and outcomes without integrated master data for trade compliance processes.
What you will learn:
- Why Trade Compliance needs a solution designed to manage Master Data for Trade Compliance.
- How Master Data management for Trade Compliance simplifies your life and brings you peace of mind.
- How managing Master Data enables you to gain absolute control over your Customs Brokers and improve your outcomes with Customs and PGAs.
Ned Blinick, Chief Product Officer, 3rdwave