For logistics companies and liberalised postal operators involved in international trade, proper management of customs compliance is critical to a successful operation.
Accordingly, companies must develop comprehensive guidelines for compliance with import and export requirements, while employing strategies to reduce the costs of compliance on a worldwide basis. One of the common challenges facing transportation and logistics companies is the inability to determine a complete and current “footprint” of their import and export compliance. This is, in part, due to the decentralisation of customs compliance within most companies and the use of independent customs brokers, which results in the inability of implementing uniform control procedures. If a company does not have a comprehensive understanding of its customs function, it may experience many customs claims, more supply chain interruption, increased overall costs and an inability to systematically identify cost saving opportunities and potential areas of risk.
Relevant PwC services and solutions:
Through our Customs Opportunity & Risk Assessment (CORA), PwC can work with the client to analyse available information, identify areas of opportunity and/or risk and assist in developing a strategy that will enhance the import operations from the perspectives of compliance and cost efficiency. PwC can assist with a variety of cost savings opportunities such as:
PwC can also assist with pre-audit planning for a:
The results of our analysis can be compiled into a user-friendly format, including a summary of various recommendations for cost management and compliance risk reduction opportunities.
With CORA (Customs Opportunity & Risk Assessment), PwC can: