1. GAIN ACCESS TO RESCREENING PROCESSES AND MOST CURRENT DENIED PARTY LISTS
The principal objective of any GTM package is to manage import and export functions and automate trade activities. It achieves this by seamlessly performing denied party screenings and embargo checks; assigning export and import licenses; creating and filing trade documents and communicating electronically with customs authorities. It can also facilitate product classification, manage customs processes and transit procedures, and determine preferential trade eligibility.
A tailored GTM solution can also provide an excellent level of visibility into landed costs.Organisations that lack a GTM system will have to calculate these costs manually, which is a time-intensive process that is prone to errors such as overlooking preferential trade opportunities that reduce duties and taxes. A transparent landed cost strategy plays a significant role in sustainable and lucrative supply chains and improves the organisation’s ability to make effective business decisions and identify cost-saving opportunities.
2. VIEW CUSTOMIZED REPORTS AND AUDIT TRAILS
OCR’s Watch List Screening solution allows companies to inform specific departments of results using our system of detailed result alerts and notifications. Teams can be updated on match status, and the process is kept transparent. Reports are customizable, adjusting to any industry or company goals. An important aspect of this tool is that audit trails can be generated in the click of a button – these trails keep all individuals working in the company accountable, and allows management to view any actions taken on the system. Along with reports and audit trails, automated alerts can be configured to remind managers of any follow-up actions or past tasks that must be completed.
3. CUT DOWN ON TIME AND EXPERIENCE ZERO DISRUPTIONS IN SERVICE
Time-consuming and repetitive data entry is eliminated once OCR’s Watch List Screening solution is installed and seamlessly integrated with any third party ERP systems. All compliance processes are streamlined and simplified so you are able to reduce overall time and cost spent working on your company’s compliance. One of the most important aspects of OCR’s Watch List Screening solution is that it is always working efficiently – around the clock. No disruptions in service or delays are caused when working with clients, and business analysts work efficiently to make sure that all software integrations run smoothly.
