Amber Road has launched a multi-country customs warehousing platform with enhanced support for European customs filing that will help companies more efficiently handle cross-border trade.
The expanded solutions address companies’ need to quickly configure their supply chains, as changes in trade regulations or business strategies develop. It also allows firms to work toward the goal of fully digitizing trade processes for filing to customs agencies.
The Amber Road global trade management platform integrates its “Global Knowledge” trade content from some 170 countries with order-to-cash processes to make sure companies are compliant with increasingly important cross-border trade. The new programs, according to Amber Road, enhance supply chain transactions with product compliance information to create an electronic version of the customs declaration that can be directly filed with Customs agencies.
The new customs warehousing initiative creates a single platform for companies to take advantage of the cost savings and supply chain efficiencies when moving inventory from bonded and nonbonded warehouses in and out of Europe. It also reduces brokerage fees by self-filing through an automated process, and creates an electronic customs declaration by combining product and partner data with transaction data, while integrating duty management solutions for preferential trade programs.
“Major trade policy changes such as Brexit, new multilateral trade agreements and the potential for trade wars is increasing the need for chief supply chain officers to build flexible supply chains,” Nathan Pieri, chief product officer at Amber Road, said. “With a global trade management platform that digitizes sourcing, compliance, warehousing and filing processes, companies can react quickly to these changes and maintain the lowest cost delivery to their end markets.”
Amber Road’s cloud-based global trade management software, trade content and training assists companies in creating value through their global supply chain by improving margins, achieving greater agility and lowering risk. This is accomplished by creating a digital model of the global supply chain that enables collaboration between buyers, sellers and logistics companies.