Gap Assessment

You are confident that there are no gaps in your trade compliance processes…right?

Perhaps you have a solid and experienced team in place with many years’ experience, yet something does not feel right. Has enforcement action made it clear that there are gaps in your trade compliance process which need to be identified and corrected?

Our gap assessment (or process audit) service will provide you with peace of mind.

Impact to Business

Ignoring gaps in your process is akin to driving without a seat belt: there might be absolutely no impact or problem. Until something goes wrong or enforcement agencies come down on you and your ability to continue running your international trade business as-usual is seriously compromised. The impact to business can vary depending on severity, but everything, from financial penalties to seizure of goods from exporting, are all very plausible outcomes.

How our Gap Assessment can help

We perform targeted Gap Assessments, also known as Process Reviews, focusing on those areas that you suspect may not be fully trade compliant. Working along-side your staff in a collaborative atmosphere, we ensure that the various stakeholders feel included in the process and that their opinion counts. We take the time to make sure that team members understand the risks and benefits to the company that a good trade compliance process can deliver.

In a good gap assessment, every aspect of a process is reviewed, from concept, to order, through to shipment including aspects from purchasing, planning, manufacturing, technical data exchanges and more. The final report will usually include input from your own staff, and provide a clear plan to implement corrective action to your international trade program, with or without external assistance.

When the gap assessment concerns logistics costs, we help identify key savings and recoveries within a few weeks. Whether the process involves appealing customs classifications or values for duty, submitting National Motor Freight Classification (NMFC) justifications, starting one of the various drawback programs or putting together a major Request For Proposal (RFP), we will make a positive difference to your bottom line.

MANAGE THE RISK OF NON-COMPLIANCE

Our gap assessment will provide you with a written report card as to your compliance level, as well as proposed corrective measures if warranted.