TradeMerit Compliance monitors your activities to ensure that they are undertaken in accordance with policies and regulations. These policies and regulations may be mandated by your organization, government agencies, as well as other entities such as trade bodies. Real-time controls enable you to detect non-compliance and ensure that corrective actions are done. The result is:
- Reduction in penalties.
- Reduction in compliance costs.
- Improvement of your organization's security rating.
- Improvement of your organization's image and reputation.
Improve Your Security Rating Through Systematic Risk Profiling
Enforce a disciplined approach for assessing and tracking compliance/security risks associated with each material, supplier, region, and logistics provider. Use TradeMerit to demonstrate to applicable authorities your continuous and systematic due diligence. Improve your security rating and reduce potential delays due to shipments held for inspections, while improving your organization image and reputation.
Accelerate Compliance Data Collection
Let TradeMerit identify the applicable compliance requirements based on your supply chain plans and applicable regulations. Leverage end-to-end visibility to collect the needed data independent of its source - internal system, department, supplier, or logistics provider, and independent of its format - paper, email, paper, fax, etc.
Improve Reporting Data Accuracy
Automatically cross-check information for consistency in order to improve quality of data reported to government agencies. Avoid penalties by receiving alerts when detected errors pose a non-compliance risk.
Streamline Compliance Reporting
Automatically communicate with different government authorities to submit reports and check the acceptance of your submission. Generate the necessary paperwork and documentation to meet compliance needs of non-automated authorities.
Detect Incidents & Increase Accountability
Monitor compliance reporting statuses and detect operational issues that pose a compliance risk. Instead of following up on each transaction, configure tolerance thresholds and specify who (or what system) should respond to a given situation. Track actions taken by the various parties, such as forwarders and customs brokers, in order to promote accountability and ensure efficient process.
Leverage Existing Systems
Achieve end-to-end visibility by collecting relevant data from existing systems and partners. Whether you are using an ERP, trade compliance system, a customs broker/forwarder system, or a mix of separate applications, TradeMerit maximizes the benefits of your existing investments and supports your future IT plans.
Reporting & Analytics
Customize and use web-based reports in order to improve operations and monitor overall performance. Leverage real time drill-down dashboard to enable performance analysis of supply chain business processes. Define Key Performance Indicators (KPI) based on a wide array of business metrics.