Are you prepared for a trade audit? Are you paying too much to be ready for one?

Companies are required to know and comply with all the laws regulating their international trade, financial, import and export activities.

BIS, CBP, OFAC and ITAR are just a few of the agencies that regulate trade.

Do you owe money to these government agencies? Are you paying too much? Do they owe you money? Are you personally liable? Is your company in violation and you are not aware?

Do you comply with their document retention, reporting, entity screening, classification, assists, and due diligence requirements? In global trade you also are subject to several legislative and operational issues on both sides of the ocean, which makes compliance at a global level even more difficult to understand and manage.

There are so many regulations that software by itself is not enough – it takes the extra mile to review, cleanup and execute complete compliance in our industry. These are day-to-day responsibilities for any company that engages in international business, from the basics of document creation, document retention and reporting, to global trade compliance.

The U.S. Government is increasingly auditing companies involved in the global trade of goods and services. Whether they’re shipping from the U.S. or from a foreign entity governed by different laws and regulations, the result of these audits frequently has a direct and profound negative impact on the bottom line of companies that have not invested in their internal controls and dedicated the necessary resources. In recent years governments around the world have been under increasing pressure to raise revenues, therefore audits, sanctions and penalties are being used with unprecedented frequency, placing additional pressure on companies to perfect their internal processes in order to avoid increased scrutiny.

Less than perfect compliance will affect your business tremendously and tarnish your corporate image. POHorizon™ helps your company to stay in compliance by tracking all of the required documentation for your imports and exports including: ECCN, HTS, CCATS, license information, country of origin and AES filing information. POHorizon™ can be used to run your internal audits and help your company to minimize its liability.

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