E2open Announces “Brexit-Ready in 24 Hours” Solution for Rapid Trade Compliance and Regulatory Assessment
Solution offers clarity regarding changing UK customs and trade regulations and protects margins by identifying duties and costs that apply before and after Brexit
E2open, the one place in the cloud to run your supply chain, announced a solution for companies to assess compliance and exposure with Brexit customs and trade regulations. Businesses are protected through access within 24 hours to the most up-to-date UK harmonized tariff schedule and export control classification numbers, plus automated alerts to any impacts on their business from the new and evolving import and export controls. This ensures regulatory compliance, avoids financial uncertainty by calculating accurate total landed costs and identifies money-saving opportunities to take full advantage of post-Brexit UK trade agreements.
“The impact of Brexit on your business’s supply chain is unpredictable at best as lawmakers continue to propose, negotiate and implement new import and export rules, and the Brexit date remains a moving target,” said Michael Farlekas, president and chief executive officer of E2open. “With E2open’s Brexit solution, companies can shield their supply chain operations from the impact of Brexit, gain unparalleled clarity to changing customs and trade regulations, and protect margins by identifying duties and costs that apply before and after Brexit. We are pleased to offer a solution that gets businesses up and going within 24 hours, ensuring Brexit readiness when it happens.”
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Key capabilities of E2open’s Brexit solution include:
- Accurately assists in the classification of products by verifying commodity codes and export control numbers against the latest UK Trade Tariff and the UK Export Control Order
- Automatically notifies users if export or import licenses are required, pinpoints available licenses and identifies imposed sanctions and embargos
- Identifies duties, taxes, and fees and calculates total landed costs, simulating different results by changing variables
- Detects applicable preferential trade agreements and notifies users so the company can minimize duty payments
- Taps into the world’s most comprehensive trade content and includes daily updates to the latest Brexit regulations from dedicated trade professionals
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“E2open’s Brexit solution alongside other applications on the E2open platform allows our clients to evaluate scenarios for changing Brexit rules and dates across their end-to-end supply chain. Incorporating trade regulations and customs duties while making global sourcing and distribution decisions, unlocks cost-saving opportunities as well as minimize compliance and logistics delays,” said Pawan Joshi, executive vice president of product management and strategy at E2open.
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