Survey of Mid-Market Companies Highlights Good News/Bad News for U.S. Exporters

A new white paper released today by Amber Road found that mid-market companies are increasingly at risk for violating U.S. export regulations. This is especially concerning because U.S. export volumes are on the rise. According to a recent U.S. Bureau of Economic Analysis report, U.S. exports grew 7.7% from January 2011 to January 2012.

Amber Road surveyed 150 mid-market companies about their export compliance processes. They found that 23% do not screen for restricted parties prior to engaging with trading partners and customers, and only 41% have a comprehensive export compliance program in place. Not surprisingly, survey respondents pointed to a lack of executive sponsorship as a primary reason for their companies’ trade compliance deficiencies.

To learn more, read the full press release, or download a copy of the white paper.

 

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New Trade Enforcement Agency Established

President Obama recently signed an executive order, establishing the Interagency Trade Enforcement Center (ITEC) within the U.S. Trade Representative (USTR).  The Obama administration is aimed at doubling exports by the year 2015, and this new agency will help facilitate that goal.

According to Ron Kirk, Ambassador of USTR, the ITEC is among the most significant commitment of resources and expertise since the establishment of the USTR. The purpose of the Interagency Trade Enforcement Center will be to coordinate U.S. trade rights under international agreements, monitor unfair trade practices, as well as identify and eliminate foreign trade barriers. These tasks will hopefully curb the production of counterfeit and unsafe goods and improve market access for U.S. exporters. The ITEC will also strengthen trade enforcement of intellectual property laws.

Chairman of the House Trade Working Group, Rep. Mike Michaud (D-Maine), said, “Signing this order brings us one more important step closer to the level of trade enforcement we need to counter the predatory practices of countries like China.”

Based on the signed executive order, the mission and function of The Interagency Trade Enforcement Center will be to:

(a) serve as the primary forum within the Federal Government for USTR and other agencies to coordinate enforcement of U.S. trade rights under international trade agreements and enforcement of domestic trade laws;

(b) coordinate among USTR, other agencies with trade related responsibilities, and the U.S. Intelligence Community the exchange of information related to potential violations of international trade agreements by our foreign trade partners; and

(c) conduct outreach to U.S. workers, businesses, and other interested persons to foster greater participation in the identification and reduction or elimination of foreign trade barriers and unfair foreign trade practices.

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Amber Road Launches TradeWizards.com, a Free Cloud-based Portal for Global Trade

Amber Road, a leading provider of Global Trade Management solutions, announces the launch of its latest trade compliance product, TradeWizards.com. TradeWizards.com is a suite of nine different research tools that helps companies import and export goods more quickly and affordably, while staying compliant with country specific trade regulations.

TradeWizards.com will enable users to instantly perform numerous global trade activities including: restricted party screening, product classification, and landed cost calculations. What used to require hours of manual interpretation of trade rules is now an automated process achieved instantly via TradeWizards.com.

Sign up now on TradeWizards.com.

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Management Dynamics Changes Name to Amber Road!

New Name Marks Continued Growth and Evolution for Global Trade Management Leader

Management Dynamics, a leading provider of Global Trade Management solutions, today announced that it has changed its name to Amber Road.  The name change comes during a year of rapid expansion, marked by a 40% growth in employees, a 325% increase in European bookings, and the opening of a flagship office in Tysons Corner, Virginia.  This breakout year is anchored by a 33% compound annual growth rate (CAGR) in overall revenue for the past decade. 

“Today, our SaaS-based solutions span fourteen software products that include global transportation management, import/export compliance, supplier management, supply chain visibility and a content knowledgebase covering trade regulations and tariffs for more than 120 countries, “  said Jim Preuninger, CEO.

To learn more, please read the full press release or visit http://www.amberroad.com/.

 

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Management Dynamics FTA Solution Poised to Assist Importers and Exporters to Capitalize on Reduced Duties

On October 12, the United States Congress ratified several landmark free trade agreements (FTAs) with South Korea, Colombia and Panama. While still awaiting the President’s signature, which is expected, these agreements are sure to usher in a new level of trade activity with these countries.

Proponents list a host of benefits from FTAs, including:

- Expanded access to markets for both goods and services

- Greater protection of intellectual property rights, and a

- Growth in jobs that would accompany the opening of new markets

Taking this into consideration, Management Dynamics offers a comprehensive Free Trade Agreement (FTA) management solution that provides solicitation and qualification in order to determine if a company’s product is eligible for preferential treatment. This can have a significant impact on the applicable duties for their products resulting in reduced total landed costs.

To learn more about the Free Trade Agreement Solution, read the full press release here.

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BIS Publishes New “Best Practices” for Exporters

The U.S. Department of Commerce’s Bureau of Industry and Security (BIS) recently released a new set of best practices that are aimed at helping exporters, re-exporters and freight forwarders guard against the diversion of dual use items shipped to a transshipment hub.  While transshipments are a growing part of international trade and offer many benefits, they can be used illegally to either disguise the final destination or divert trade to unauthorized end users.

The new set of best practices encourages exporters to maintain strong internal compliance strategies, conduct focused outreach, and continuously raise awareness of export control regulations and obligations.

The following is a summary of the best practices published by BIS:

 - Companies should pay attention to the Red Flag Indicators on the BIS website.

 - Companies should seek to utilize Trade Facilitators that administer sound export management and compliance practices.

 - Companies should “know” their foreign customers – by obtaining detailed information to measure the risk of diversion.

 - Companies should avoid routed transactions when exporting and facilitating the movement of dual-use items.

 - When the Destination Control Statement (DCS) is required, companies should provide the appropriate Export Control Classification Number (ECCN) and the final destination where the item(s) are intended to be used.

 - Companies should provide the ECCN or the EAR99 classification to freight forwards, and should report this information in AES.

 - Companies should use information technology to the maximum extent feasible to augment “know your customer” and other due-diligence measures.

For more detailed information, please read the full article.

 

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Upcoming Webinar: Bringing Compliance into the Boardroom

September 15th, 2010 at 2:00 pm EST. Register Now!

Global trade transactions account for trillions upon trillions of dollars each year, and this number is expanding as we forge into the future. Additionally, it is becoming more complex to manage US and international regulations.

Yet, despite these factors, compliance departments remain woefully underfunded and understaffed. According to our export compliance research, 14.6% of compliance professionals believe that their company’s executive management is not aware of trade compliance.

How do you get executive level cooperation and sponsorship of your initiatives?

Join American Shipper and Management Dynamics for an upcoming educational webinar, “Bringing Compliance into the Boardroom.” This webinar, featuring a panel of global trade experts, will discuss how to get your voice heard when speaking to your c-level executives about enhancing your trade compliance operations.

In this trade compliance webinar, our expert panelists will discuss:

- Pain points of each member in the boardroom

- How these points relate to compliance issues

- Key messaging to use when speaking to each board member

- Tools to use in your presentation, such as quantifying compliance and its effect on the bottom line

- How automation can contribute to your efforts by adding value and saving money

Speakers:

virginia_thompson_global-trade-compliance_crate-barrel Virigina Thompson
Director, Import/Export Operations & Global Trade Compliance
Crate & Barrel
nathan_pieri_management_dynamics Nathan Pieri
SVP Marketing & Product Management
Management Dynamics, Inc
beth_peterson_bpe Beth Peterson
President
BPE

Register Today for “Bringing Compliance into the Boardroom!

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Upcoming Webinar: Building an Export Management Program

American Shipper is hosting an upcoming webinar, “Building an Export Management and Compliance Program.”  Sponsored by Management Dynamics (in partnership with BPE), the webinar will take place on July 28th at 2 pm ET.  The hour-long round table discussion will include the following expert panelists:

- Beth Peterson, President of BPE
- Joe Burks, Director of Trade Compliance for Cooper Industries
- Nathan Pieri, VP of Product Development and Marketing for Management Dynamics

These experts will discuss best practices for developing your company’s Export Management and Compliance Programs, including:

- Strategic value of your EMCP
- The core elements of an effective EMCP
- The steps required to build an EMCP
- Sharing your strategy with your C-level superiors

Learn how your company can implement processes and systems that ensure compliance with the Export Administration Regulations (EAR).  Best of all – it’s FREE!  Sign up today.

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Encouraged Bilateral Trade for Small to Mid-sized U.S.Companies to India

According to American Shipper magazine, both the U.S. and Indian government has announced an incentive to encourage small to mid-sized companies to trade bilaterally between the two countries.

 “There is almost limitless potential for growth in trade between our two countries, and that can contribute to economic recovery and job creation in the United States and continued economic growth in India,” Ron Kirk, U.S. Trade Representative said in a statement.  

In October 2009, Mr. Kirk and Anand Sharma, Indian Minister of Commerce and Industry met at the Trade Policy Forum meeting to create the necessary framework to support small to mid-sized companies and encourage trade. This week the two representatives will met again to host an advisory meeting of American and Indian trade experts to enhance their efforts for this new program.

“We can realize that potential by working together toward the goals set forth in the framework agreement, such as developing and enforcing policies that encourage technological innovation; increasing agriculture, services, and industrial goods; and increasing investment flows,” Ron Kirk added.

To continue reading…

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Management Dynamics Releases End-Use Manager to Help Companies Reduce Trade Compliance Risks

New On-Demand Solution Enables Cross-functional Teams to Create and Manage End-Use Statements for Customers, Vendors and Employees

Management Dynamics, a leading provider of Global Trade Management solutions, today announced the release of End-Use Manager, an on-demand solution that generates end-use surveys for parties involved in any cross-border transaction. The new solution allows a trade compliance team to comprehensively survey and collect end-use statements from customers, suppliers and employees, establishing a standardized process for managing and ensuring compliance with international trade regulations.

“Companies that manufacture and export licensable goods must ensure that their customer and the intended end-use are approved and in compliance with export regulations. However, today this is largely a manual process that is difficult to administer, especially across a global enterprise,” said Adrienne Braumiller, Partner, Braumiller Schulz LLP.  “Management Dynamics’ End-Use Manager provides companies with the tools necessary to ensure that their shipments are delivered to the approved trade party and destined for friendly end-use.”

 End-Use Manager can be flexibly deployed as a Web-based portal across any global enterprise and configured to meet the specific requirements of different business units. Surveys can be developed by business unit, transaction type, origin country and destination country, and populated with a pre-configured list of questions.  In addition, all parties to the transaction are screened against the major sanctioned party lists. 

 Management Dynamics’ End-Use Manager offers the following key capabilities for companies to simplify trade compliance around product use and related professional services:

  • Enterprise Deployment – Implement an end-use process by geography, business unit, or product family with a flexible multi-organization deployment model and manage users with role-based security.
  • Survey Configuration – Develop a comprehensive repository of questions and manage assignment rules to dynamically assemble a complete survey for end-use statements by customers, vendors and employees. 
  • Restricted Party & Critical Country Screening – Automatically screen each party to the transaction against a comprehensive list of restricted parties and  embargoed countries.
  • Generate & Distribute End Use Statements – Dynamically generate end-use statements based on all associated questions as well as the results of Critical Country and Restricted Party Screening in a PDF format for easy distribution via email.
  • Review Audit Trail – Audit each transaction with complete visibility to the user and all survey questions and answers.

“Today many companies rely on an inconsistent and, often inaccurate, manual process to administer end-use surveys to determine if the intended use of their shipped goods is in compliance with export controls,” said Nathan Pieri, SVP Marketing & Product Management, Management Dynamics, Inc. “Our new End-Use Manager product makes it possible to manage the process centrally and distribute via a simple web-based solution for employees that must interact with customers, suppliers and contractors.”

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