Automating Customs Classification and Denied Party Screening with Descartes Global Trade Compliance solutions | Descartes
Automating Customs Classification and Denied Party Screening with Descartes Global Trade Compliance solutions
Meggitt PLC is a global engineering group specializing in extreme environment components and smart sub-systems for aerospace, defense, and energy markets. With sixty businesses in sixteen different countries, and a large number of military and dual-use items in the company’s catalog, Meggitt needed to be absolutely certain that its products were being classified correctly, and they were not ending up in the hands of denied parties.
Challenges:
- Wanted a centralized global trade compliance solution
- Multiple-use cases for compliance requirements
- Large number of military and dual-use items
- Footprint in many major international markets
Solutions:
Meggitt used a number of criteria to evaluate which compliance solutions to implement: the provider’s reputation, ease of use, depth and quality of the data provided and price.
Meggitt’s compliance processes have evolved over time. Initially, the company implemented Descartes’ online denied party screening (Descartes Visual Compliance™) and HTS classification solutions (Descartes CustomsInfo™ Reference). As needs evolved, Meggitt expanded its program to include bulk screening and daily re-screening, and also subscribed to automated HTS and denied party list data feeds for its SAP GTS environment.
Results:
- More than US$300,000 in labor cost savings
- Organization-wide roll-out with easy-to-use solutions
- Integrated solutions reduced burden and improved compliance
- Centralized compliance activities helped the entire organization stay on the same page
Success Story Meggitt PLC
INDUSTRY WHITE PAPER
Best Practices for Denied Party Screening
This eBook explores some best practices to keep in mind as organizations screen for denied parties.
SOLUTION HIGHLIGHT
Denied Party Screening
Improve Screening Efficiency and Effectiveness with a Comprehensive Source of Government Watch Lists
SOLUTION HIGHLIGHT
Product Classification and Duty Determination
Improve Compliance While Reducing Duty Spent with a Comprehensive Repository of HTS Codes, Duty Rates, Tariffs, Binding Rulings, Trade Agreements and Regulations.