CustomsPoint Inc. - Key Benefits

Key Benefits

	Works in Most Countries that subscribe to the GATT (General Agreement on Tariffs and Trade)
	Easy to learn functionality
	Intuitive to the import/export operational process
	Cost Effective
	Meets reasonable care standards
	Facilitates Sarbanes-Oxley Compliance
	Saves Time and Money


CustomsPoint ROI	Competitor ROI

Compliance Justification

CustomsPoint’s IEMC application can be used in combination with the global trade management applications, such as SAP Global Trade Manager, or as a stand alone product. The process of efficiently clearing import/export shipments, in compliance with government regulations, depends upon the following essential steps:

Understanding the characteristics and properties of each product as they relate to the assignment of tariff numbers, export and import controls, and the regulations of each country with jurisdiction.
Identifying, accessing, and understanding all international trade specific governmental regulations that will affect the coding, control, restrictions, taxation, handling, and reporting of the product. (This is the focus of the global trade content providers and the broker/forwarder.)
Recording and updating these determinations in a systematic globally accessible fashion, so as to ensure their consistent and appropriate usage by import/export transaction processors. (This is the focus of CustomsPoint and the broker/forwarder.)
Applying the previously determined information to the specific circumstances of each import/export transaction in an automated manner. For example: accepting an electronic feed of invoice data for importation, electronically looking up each part number against the database of associated trade data, and outputting information in a format ready for processing by the pertinent authorized parties. (This is the focus of CustomsPoint and the broker/forwarder.)
Maintaining detailed transaction records and providing reports that can substantiate for government authorities and customers (reasonable care) that transactions have been handled in compliance with the government’s regulations. (This is the focus of CustomsPoint and the broker/forwarder.)

Maximum efficiency and compliance can only be obtained by optimizing each of these steps. CustomsPoint acknowledges that the global content providers do not provide adequate solutions for this entire process and that new transaction specific tools are essential for customers to ensure compliance with the regulations and efficient trade flow.