- 58% of companies have internal stakeholders outside of the compliance department that do not understand the risk of non-compliance
- 42% of companies have manual processes for managing global trade that are becoming too cumbersome
- 34% of companies cite total landed cost as one of the top three improvement areas for global trade compliance in 2010
- 50% or more of companies eligible for duty drawback do not usually recover 81% or more of what they claim
These statistics are among the results of the 2010 AberdeenGroup Global Trade Management study. The report, an analysis of surveys by 136 global exporters and importers, reveal that trade compliance teams are actively revamping and augmenting their Global Trade Management (GTM) and specifically their Global Trade Compliance (GTC) programs to stay current with supply and demand fluctuations, growing global operations, increasing operational complexity and risk, and trade lane changes. Companies can use this report to not only see how others are handling trade management and compliance, but also as a litmus test to see where a company's performance stands compared to Best-in-Class operations.
Topics covered in this white paper include:
- What is considered Best-in-Class practices
- Competitive assessments
- Utilizing process automation and technology
- Actions to move from Laggard or Industry Average to Best-in-Class
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