Export Compliance Software: Why They Are Important

Your export company has just closed a new sale abroad, and you’re very excited about this new buyer. But, this is where many exporters overlook one crucial element: export compliance. It is vital to ensure that you operate within both the regulations of your companies and your destination country to avoid any future conflicts. For example, with the increased global trade tensions stemmed from the coronavirus pandemic, it’s more than necessary for exporters to adhere to all health and safety protocols. Ignoring such protocols can lead to sanctions from international bodies like the United Nations (UN) or even economic organizations like the European Union (EU).

The Essence of Export Compliance Software

Minimizes Human Error

By offering streamlined export controls into your process, export compliance software solutions help you meet regulations that some small and medium-sized export firms tend to neglect.

These solutions help in several ways, by:

• Aiding exports to identify each destination for every shipping quickly. 
• Offering a trusted process that any member of the exporting team can follow. 
• Having a trusted audit trail to ensure all due diligence is observed accordingly. 

Product Classification

The compliance software also offers product classification, allowing companies to quickly identify different varieties of products through classification software like the Schedule B or Harmonized System (HS) code. 

Easy Search

If you need to search the Export Administration Regulations database or the International Traffic in Arms Regulations, the software will aid your search and speed up the entire process. With this, exporters can see if their product is a controlled item or not. 

Screening Restricted Parties

Export regulations set by the government prohibit trade with some entities, organizations, and institutions. An export compliance software searches through the different lists, saving you both time and trouble. 

Conclusion

With the export compliance software, your way to becoming a successful exporter can be much smoother. From minimizing human error to offering product classification, the Export Compliance Software offers many benefits to your export process. 

Like the export compliance software, Export Portal makes it easier for our small and medium-sized companies to do business. Check out our site today to easily trade globally!