The growing number of legal and regulatory requirements associated with global trading is one of many reasons enterprises are looking into global trade management applications, and into harnessing the up-and-coming, strategic software category of governance, risk management, and compliance.
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Trade and the Role of Governance, Risk Management, and Compliance Software To conduct business globally, logically companies need to comply with local laws, satisfy trade security measures, meet documentation requirements, understand complicated tariffs, and coordinate various parties. Handling these tasks manually increases the risk of failure, which can be costly when trading across borders. In fact, according to a United Nations (UN) study, the inefficient administration of customs processes accou