Supply chain complexity and market volatility have raised the stakes for companies engaged in global trade. From the U.S.-China trade war and USMCA to COVID-19 and Brexit, 2020 only capped off a period of tectonic shifts in the industry. A host of major disruptions since 2018 alone, even those involving just the U.S., illustrate the strong need for end-to-end global trade visibility and process automation.
Disruptions from COVID-19, political instability, regulatory and tax uncertainty, recurring climate-related events and more, all require sudden and dramatic reconfiguring of sourcing, production and supplier networks. How do supply chain and regional trade managers navigate documentation, compliance and risk exposure amid the chaos? How do they evaluate sourcing and supplier options?
The end-to-end trade compliance data generated by Artificial Intelligence-enabled platforms carries tremendous value, going well beyond just risk management. Deployed proactively, it contains unique insights into company operations and partner networks that can improve efficiency and resiliency, audit performance, generate cost savings and enhance customer experience.
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