According to a recent article by Information Week, the U.S. government is continuously encouraging small businesses to sell their products and services overseas as part of a broader strategy that is led by the National Export Initiative. One of the challenges these businesses face as they tap into new markets is maintaining trade compliance.
Global trade involves an array of compliance and operational issues that small businesses are aware of but either don’t fully comprehend, or don’t have the right resources and expertise to properly deal with. To tackle these issues and automate (and streamline) trade compliance, more and more companies are turning to Software as a Service (SaaS) models. Such SaaS models are appealing to SMBs because of their affordability and ease of use as on-demand, pay as you go export management and compliance solutions.
According to Nathan Pieri, VP of Marketing and Product Management at Management Dynamics, the main challenge for SMBs is organizing their approach to globalization; both understanding the rules and regulations, and setting up an environment where they can comply with export laws. Management Dynamics recently released an Export On-Demand solution that helps SMBs automate and manage all aspects of global trade initiatives, including: product classification, restricted party screening, and license management.
For more information, check out the full article.
