To achieve the greatest value proposition, a global trade management (GTM) solution must provide three key elements: compliance software, up-to-date trade content, and connectivity to customs and trading partners
Charlotte, NC (PRWEB) March 31, 2009
Integration Point®, a trade compliance software provider, announced today a solution to assist importers with automating the error-prone, time-consuming and ongoing manual process of validating entries on a regular basis. Using Integration Point Entry Visibility, importers have a global view of all entries filed. This increases trade compliance and ensures that all available savings are realized when importing goods. Entry Visibility gives importers real-time visibility into 100% of their entries around the globe.
Due to time and cost restrictions, most importers cannot audit all of their entries on a regular basis and therefore they are potentially losing money due to classification errors, inaccurate quantities, or missed Free Trade Agreement eligibility. Plus, the U.S. Modernization Act requires importers to demonstrate "Reasonable Care" when filing entry data to Customs. This means that importers that do not validate their entries could potentially be in violation and face significant fines. To reduce this liability, Entry Visibility from Integration Point gives importers real-time visibility into 100% of their entries around the globe and allows them to compare entry data against up-to-date global trade content, classification data, value data, quantities, and any other commercially available data in an on-demand environment.
"To achieve the greatest value proposition, a global trade management (GTM) solution must provide three key elements: compliance software, up-to-date trade content, and connectivity to customs and trading partners," said Adrian Gonzalez, Director of Logistics Executive Council, ARC Advisory Group. "The role of compliance, content, and connectivity is clearly evident in the entry validation process, which is why this solution from Integration Point is well-aligned with customer requirements."
Features of the Integration Point Entry Visibility Software include:
- Global Entry Visibility -- increases visibility into all entries from around the globe while providing the ability to leverage in one platform current classifications (HS numbers, Country of Origin, etc.), global trade content (duties, taxes, free trade agreements), and invoice data (value, quantities) against what was declared in the entry
- Validation Rules Engine -- identifies common entry errors such as incorrect tariff numbers, product description, and country of origin
- Data Mining Tool -- allows for searches against any data element in the entry or any data captured within the Entry Visibility module so importers can easily identify errors between the actual entry filed and classification within Integration Point Global Classification
- Post-entry Audits -- acts as the foundation for the importer's post-entry audit program through automation of entry validation in an on-demand environment
- Broker Communication -- allows the importer to easily communicate entry errors to broker directly from the Integration Point connectivity network
- Document Retention -- archives all documents electronically for each entry filed and satisfies record keeping requirements needed by the importer
- Post-entry Amendment & Reconciliation -- facilitates and manages the post-entry amendment and reconciliation processes
A free Entry Visibility Tutorial and whitepaper will be forthcoming. To receive a copy, please send an email to Marketing (at) IntegrationPoint (dot) com.
About Integration Point®, Inc.:
Integration Point, Inc. Real Time Global Trade Management helps many of the best known companies import and export goods more effectively by providing up-to-date international trade compliance. The Integration Point Solution is a comprehensive suite of fully integrated, web-based software products that provide consistent and secure access to global information including: Import/Export Management, 10+2 or Importer Security Filing, Global Classification, C-TPAT, AEO, Denied Trade Screening, Entry Visibility, Free Trade Agreement qualification and Duty Deferral Program participation. Companies dependent on efficient import/export of goods rely on Integration Point to help them quickly and accurately navigate through the often complex and dynamic requirements of global trade. Contact Integration Point at http://www.IntegrationPoint.com or 704-576-3678.
Integration Point, Inc.
MIrmen (at) IntegrationPoint (dot) com