Amber Road conducted this extensive survey in six European countries, with respondents from 450 SME and multi-national companies covering all types of industries. The report found several interesting observations:
Germany leads in the automation of trade compliance management
10-15% of respondents revealed that their firms have been fined or warned for non-compliance
The highest level of automation is achieved in the area of restricted party screening
In all countries covered by the survey, approximately 80% of the companies have a centralized trade compliance organization
The increasing complexity of global trade rules and regulations, coupled with the ambitious nature of the global supply chain, has accelerated the development of global trade management (GTM) technology in order to facilitate the need for cost-efficient and compliant movement of goods and services. Many companies leave their staff without the IT tools necessary to handle high trade volumes and deal with challenging customs and security demands.