Amber Road Launches TradeWizards.com, a Free Cloud-based Portal for Global Trade
Amber Road, a leading provider of Global Trade Management solutions, announces the launch of its latest trade compliance product, TradeWizards.com. TradeWizards.com is a suite of nine different research tools that helps companies import and export goods more quickly and affordably, while staying compliant with country specific trade regulations.
TradeWizards.com will enable users to instantly perform numerous global trade activities including: restricted party screening, product classification, and landed cost calculations. What used to require hours of manual interpretation of trade rules is now an automated process achieved instantly via TradeWizards.com.
Sign up now on TradeWizards.com.
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Upcoming Export Compliance Webinar Series
Part One: Restricted Party Screening
Join Customs & Trade Solutions, Inc. and Management Dynamics for a complimentary three-part Export Compliance Webinar Series, which will address the three key steps of any Export Compliance Program (ECP): Restricted Party Screening, Product Classification, and Shipment Screening and Documentation.
The first webinar will be held on Tuesday, September 20th at 2:00pm EDT and will review in detail the most common first step of any export compliance program, Restricted Party Screening (RPS).
Global trade compliance experts will show you how to automate Restricted Party Screening to reduce your compliance risk, as well as provide a discussion on industry challenges and best practices for building an Export Compliance Program (ECP), including:
- Tips for establishing a cost-effective compliance program in a down economy
- Understanding of the technology available to manage RPS today
- How you can implement screening software across your organization
- Screening best practices of today’s top global exporters
Speakers will include:
Suzanne Richer, President, Customs & Trade Solutions, Inc.
Sanjeev Williams, Product Manager, Management Dynamics
Register for the webinar today!
Mark your calendars for the next two webinars in this series!
Product Classification: Friday, October 21
Shipment Screening & Documentation: Friday, November 18
Upcoming Webinar – “Using Technology to Enhance Your Regulatory Compliance Program”
Join the Association of Corporate Counsel and Management Dynamics for a complimentary webinar, Using Technology to Enhance Your Regulatory Compliance Program, on Wednesday, September 21 at 2:00pm EDT.
Global trade compliance experts will discuss key strategies to consider when creating or enhancing a compliance program, including:
- Understanding international trade sanctions, including Specially Designated Nationals
- Best practices for implementing an Export Compliance Program (ECP), including complying with new I-29 deemed export certification requirements
- The importance of screening against federal government debarred lists, including Medicare/Medicaid, FDA, FAR, etc., as well as Anti-Money Laundering (AML) and FCPA compliance
Speakers will include:
- Robert Roach, Chief Compliance Officer, New York University
- Anthony Hardenburgh, VP Global Trade Content, Management Dynamics
This is a must attend event for in-house counsel and regulatory compliance professionals. Register for the webinar today!
Webinar Q&A Follow-Up
Export Compliance: Best Practices in High Volume Screening
During our recent webinar with American Shipper, “Export Compliance: Best Practices in High Volume Screening,” industry experts discussed the latest trends and best practices in export screening. The attendees asked some excellent questions, but the one-hour time slot did not allow enough time to answer them all. As promised, we compiled all of the questions asked during the webinar, and their responses. Here are a few:
Q: Verizon screens customers and employees. Does it also screen other parties such as suppliers and banks?
A: That periodic screening is only for Verizon employees and customers. However, in transactional screening we screen all parties associated to that transaction, customer and contracts associated to the customer (there is no exception).
Q: Do companies make case by case decisions as to whether or not to do business with denied entities?
A: A company should never do business with a denied party. Our software allows users to research potential hits and make a determination if they are potentially doing business with a denied party. We track users and their decisions to provide complete accountability.
Q: What is the assessment of the consolidated US Government screening solution that’s now available online?
A: The consolidated list that’s now posted only includes a portion of the lists that need to be checked and is US centric. It alone is not sufficient to ensure you or your organization is not doing business with a restricted party. There are literally dozens of other lists including the United Nations and many others around the world that also need to be considered.
Q: What is an exporter’s responsibility if they sell to reputable distributors and don’t know who the end user/customer is?
A: If your organization is the US Principal Party in Interest, then you are ultimately responsible. The other consideration is what’s your appropriate level of due diligence to ensure you and your distributor are appropriately screening? How do you know the distributor is screening? Have you asked? How far do you need to go to ensure compliance? The answer to that question depends on the circumstances and if you are aware of any red flags. You can ask questions until you are comfortable with your distributor’s trade compliance program? Have or can they prove to you they have a comprehensive effort that complies with the letter and spirit of the law? How much exposure, risk and liability are you willing to take on without knowing the ultimate end-use and end-user of your products or services? What’s your relationship with your distributors? Do you trust them? Again, what proof do you have they are screening?
Q: What are some best practices around positive hit escalation where the screening system does not strictly block the transaction?
A: If you have a potential hit, most of our customers will put the transaction on hold and work diligently to clear the party in question. Our workflow allows users by organization to work the issue and escalate to management as necessary. We provide a number of additional attributes, source list documentation and even pictures to help resolve the potential hit.
Q: Are companies required to screen their Customers or Vendors personnel or is it sufficient to screen the company you are contracting with as long as contract or POs identify the company is responsible for compliance? If so how do you a manage phone calls, etc.
A: In most cases screening the customer or vendor is sufficient. If the personnel’s information is available, for example your contact at ABC company then it would be considered a best practice to screen that contact as well. When it comes to phone calls and interaction with personnel, it really depends on how sensitive the information you are communicating is.
Q: How do you handle Chinese or other language character sets?
A: Other character sets (Arabic, Japanese, etc) are published with a transcribed English phrase so that screening can be performed using both the English and local language character sets.
To view all the questions and answers, please click here.
CTDI Reduces Corporate Risk with Management Dynamics’ RPS On-Demand Solution
Technology Services Company Improves Trade Compliance with Comprehensive Screening of Restricted Parties
EAST RUTHERFORD, NJ, November 5, 2009 – Management Dynamics, a leading provider of Global Trade Management (GTM) solutions, today announced that Communications Test Design, Inc (CTDI), a full service global engineering, repair and logistics company, implemented its RPS On-Demand solution, an advanced risk management solution that screens individuals and businesses to identify prohibited transactions based upon over 90 restricted party lists. Since automating restricted party screening, CTDI has significantly reduced corporate risk and improved compliance with global trade and security regulations while minimizing time and resources required for screening.
Providing repair and logistics services for major Telecom and Cable service providers and OEMs, CTDI also provides the service of screening shipments for many of its customers. CTDI needed to streamline its screening process across multiple order management systems and 25 locations. The company selected Management Dynamics’ RPS On-Demand solution for its functionality, ease of use, and ability to centralize its compliance with multi-org and team-based workflow to enable its global branches to easily manage their own customer shipments.
“We needed to prevent any illegal transactions with restricted entities or trade parties and avoid potential fines and penalties for CTDI and its telecom customers. We had previously relied on a fragmented, incomplete process,” said Greg Pugh, Global Compliance Manager, CTDI. “Management Dynamics provided the best value and came highly recommended by many authorities in the trade industry. It was also very important that the screening did not create a cumbersome distraction during high volume shipping processes. Since using the RPS On-Demand solution, we have significantly reduced our corporate risk, liability and exposure to prohibited transactions.”
Available on a flexible, on-demand architecture, Management Dynamics’ RPS On-Demand solution addressed CTDI’s needs with a secure, comprehensive method to automate screening of its customers, vendors, and other trading partners against all restricted party lists from governmental institutions worldwide. With improved screening algorithms based on computational linguistics, RPS On-Demand delivers at least a 30 percent improvement in screening accuracy with a 70 percent reduction in false positives over traditional methods. The Web-based solution integrates with any enterprise system and can be quickly and cost-effectively implemented.
“Today, exporters are held to a higher level of accountability to meet government mandates than ever before,” said Jim Preuninger, CEO of Management Dynamics. “CTDI uses our RPS On-Demand solution to centralize and streamline its compliance process to improve productivity and effectively manage supply chain risk.”
About CTDI
A premier Telecommunications service company headquartered in West Chester, PA., CTDI has provided groundbreaking maintenance and product service solutions to the global telecommunications industry since 1975. Today, CTDI offers the most comprehensive Service Portfolio in the industry that includes: Wireline Repair & Logistics, Wireless Repair & Logistics, Engineering and Installation services, Global Supply Chain solutions and Product Engineering and Manufacturing. Today, CTDI services Original Equipment Manufacturers (OEM) and Carriers with 42 international strategic repair and logistics locations supported by an experienced team of over 4,500 telecommunications professionals. For more information, visit http://www.ctdi.com/.
About Management Dynamics, Inc.
Management Dynamics is a leading provider of global trade management solutions that improve the performance of global supply chains for importers, exporters, logistics service providers, and carriers. The company’s solutions synchronize the flow of information among trading partners, optimize supply chain execution decisions, and streamline import and export processes to ensure regulatory compliance and minimize cost and risk involved in cross-border transactions. Management Dynamics’ time-proven solutions are used by more than 13,000 global users at some of the world’s most successful 3PLs, carriers, manufacturers, retailers, and high technology companies.
For more information, please visit http://www.managementdynamics.com/html/press/mdi_press_ctdi.shtml
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Did You Know…
Did you know…as a US based company with operations throughout the world, you still need to screen your employers on denied party lists?
But why?
As a solution provider in the Global Trade Management industry, we have many customers who use restricted party screening software to screen employees, consultants and on-site visitors against restricted party lists (in addition to customers). The reason they do this is because access to product and intellectual property is still the responsibility of their company to control and screen, regardless of if there is commerce involved. Many have execulted this initiative by deploying the RPS software across the organization and given access to HR departments as well as reception areas.
To find out more about Restricted Party Screening software, please visit www.managementdynamics.com or click here for a RPS On-Demand brochure.
BIS Releases New Denied Party Rule
According to the BIS report, this new rule amends the Export Administration Regulations by adding 13 new persons to the Entity List. These persons were found by the U.S. governement to be acting contrary to the national security or foreign policy interests of the United States.
Furthermore, 3 persons were removed from the Entity list by determination of the States Government annual review. Two more people requested and received removal on the list.
How do you make sure you aren’t trading with a denied party?
Download this free whitepaper from Management Dynamics, RPS Whitepaper to learn how to stay compliant.
For further updates and or information on Global Trade, please download the BIS report by clicking here.
Register for a FREE Restriced Party Screening Whitepaper
What are the four largest challenges with keeping you company in compliance?
- Accurate & Up-to-date Content-what lists, when do the change, who changes them?
-Advanced Screening Methods-how do I compare names and addresses, how do I account for data entry mistakes, how can I screen partial names?
-Real-time Screening as Lists Change-how do I keep up with screening mass volumes against continuously changing content?
-Workflow-when matchs occur, how do I manage them or know to manage them?
Restricted Party Screening is a must-have procedure for any company engaging in global trade. The risks associated with not having a system in place are becoming increasingly large when you consider the possible sanctions,fines and penalties that are being dealt by the Department of Homeland Security (DHS). The responsibility to screen trading partners during the sales and distribution process has been clearly defined as the exporter’s responsibility according to the DHS. The first step to achieving this is implementing a program focused on Trade Partner screening.
Management Dynamics’ offers a Restricted Party (RPS) On-Demand solution that provides a secure, comprehensive method to automate this process, enabling companies to quickly screen their customers, suppliers and other trading partners against all restricted party lists from governmental institutions worldwide.
To download the FREE whitepaper, click here.
To find out more about RPS On-Demand, click here.
Welcome to DeniedPartyScreening.org
In today’s era of heightened security, determining whether individuals, companies or organizations are sanctioned by a government or restricted from conducting trade is essential. Universities, financial instutitions, small to mid-sized companies, human resource departments are no exceptions. Who we conduct business with is important for our safety and security, and the montary penaties, loss of export privileges, or, in extreme cases, imprisonment.
What are the four largest challenges with keeping your company in compliance?
- Accurate & Up-to-date Content- what lists, when do they change, who changes them?
-Advanced Screening Methods- how do I compare names and addresses, how do I account for data entry mistakes, how can I screen partial names?
-Real-time Screening as Lists Change- how do I keep up with screening mass volumes against continuously changing content?
-Workflow- when matches occur, how do I manage them or know to manage them?
To learn how to answer these questions and more about how to build the first step in a export compliance program check out this white paper: Six Best Practices to Improve Compliance with a Restricted Party Screening Solution
Check back regularly for insights on what you can do to stay compliant as you monitor who you do transactions with or employ.