The timely submission of appropriate paperwork, such as trade declarations and certificates, is an inescapable part of international trade. However, a filing error or compliance breach can have major repercussions, such as steep fines, the suspension of trade privileges, or even legal action.

Some of the common problems that frequently result in errors and violations include a lack of awareness of intricate trade laws (which can vary greatly between nations), problems with data management and information flow, and the possibility of human error due to manual operations. Furthermore, these difficulties might be made worse by the quick-paced nature of international trade and the stress of tight deadlines. With these challenges in mind, companies involved in international trade need to have a sound strategy in place to prevent filing mistakes and compliance infractions.

Key Tactics to Avoid Filing Errors

Knowing your product, keeping accurate records, continual training and education, and utilizing technology are the keys to avoiding filing errors in international trade.

Know Your Products Thoroughly: It's critical to have a thorough understanding of your product. This includes being aware of the product's precise description, cost, and place of origin in addition to its proper Harmonized System (HS) code categorization. All of your submissions need to appropriately represent this data.

Keep Accurate Records: Maintaining accurate records is another crucial step. Organize and make accessible any trade-related documents and information.

Regular Training and Education: Providing your personnel with regular training helps keep them informed about the most recent requirements and educate them on the complexities of precise filing.

Key Tactics to Avoid Compliance Violations

It takes initiative and diligence to maintain compliance in global trade. Here are some key tactics to consider:

Keep Up with Trade Restrictions. Trade restrictions are always changing, so it’s critical to stay current on changes to customs legislation, export and import regulations, and international trade laws.

Recognize and Obey Local Rules. Each nation has its own particular set of trade rules and regulations. When conducting business with various nations, it is essential to keep track of these rules and follow them. It is not enough to rely on service providers and completely outsource these functions, since your business as the Importer or Exporter of record is ultimately liable regardless of the usage of Service providers.

Implement a Compliance Program. Having a solid compliance program helps your team establish clear rules to abide by. This covers protocols for managing regulated commodities, getting the right permits, and adhering to safety and quality requirements.

The Role of Technology in Ensuring Accuracy and Compliance

Technology is essential for improving accuracy and assuring compliance in global trade in today’s digitally interconnected world. For companies trying to successfully traverse the complex world of global commerce, sophisticated technologies like SAP Global Trade Services (GTS) have emerged as useful tools.

Ropaar’s SAP GTS experts ensure that your trade operations are fully automated and all your files are proper and legal. It greatly lowers the likelihood of mistakes and infractions by leveraging SAP GTS capabilities like automatic legal control and customs administration.

The SAP GTS solution can be further customized by Ropaar's team of professionals to meet your particular requirements, making it genuinely custom-tailored. Ropaar even offers SAP GTS as-a-Service which is available on multiple public cloud platforms based on your preference.

Contact us now to learn more about these solutions and services.