DECEMBER 2019CIOAPPLICATIONSEUROPE.COM8IN MYOPINIONCHRISTIAN SCHMIDT, REGIONAL DIRECTOR GLOBAL CUSTOMS & TRADE COMPLIANCE EMEA, ADIENT [NYSE: ADNT]or many companies, digitization is more than just a concept, but has become an integral part of corporate strategy. The transformation has already begun and will change the way international trade is handled. A large field that wants to be ordered when we look at the current situation.Building on FinTech and RegTech, the importance of Trade Compliance Tech will be of greater importance to companies and departments. Becoming adaptive to change, or even better, proactively driving it forward for the business in the department, will be the core task for Trade Compliance experts.In order to maintain a competitive advantage in today's fast-pacedmarkets, digital trade compliancesolutions must be firmly embedded in a company's entire supply chain strategy and IT infrastructure.Given the political uncertainty and the dynamic global trade changes it may be difficult for businesses to engage with new trends such as trade compliance Tech and to deal with them. But for businesses, this will be unavoidable, as a competitive advantage can be achieved if digital compliance solutions are tightly integrated with the overall supply chain strategy and integrated into the IT infrastructure.The objective for companies can only be to avoid falling behind in the cross-border movement of goods compared to competitors. Especially with the time factor, technologies and suitable software can support or avoid time-consuming processes. Only the manual handling of trade FTrade Compliance Tech ­ The Digitization In International Trade
< Page 7 | Page 9 >