TNETS has developed a set of core values when it comes to customs and trade compliance. These have evolved through close cooperation with clients, governments and ports and airports and technology providers. Our work is always delivered against strict observance of the following values.
Values
Compliance
The major challenge for businesses to remain up to date on customs rules and regulations in all of their jurisdictions in which they operate is exacerbated by frequent one-off external or internal shocks such as Brexit, imposition of tariffs, system changes or new product launches, and these shocks draw resources away from day to day compliance.
TNETS delivers critical insights into how regulations are evolving and provides processing power to allow managers to focus on core business needs.
Multi Country Coverage
Multinational businesses seek uniformity of internal trade management and reporting processes, while maintaining compliance with customs rules in each jurisdiction. Gathering and reconciling accurate reports from each declaring party in each jurisdiction is time-consuming. Deploying the declaring and reporting systems of a TNETS provides uniformity of process and rapid gathering of data across borders.
Big Data
Businesses can harness tremendous breadth and granularity from customs and trade management reports, where these are available. Where critical trade data is siloed across various internal departments, systems or service providers decision-making ability is diminished. By capturing all trade data and not just the freight aspects, TNETS enables drill down into any aspect of a customer’s trade flows.
Cost Reduction
Customs declarations need some degree of manual processing in most jurisdictions, and in many cases system input is 100% manual, and thus a major cost burden. Additionally, not all customs declaration and trade reporting systems are created equal. Declarations performed by TNETS‘ highly competent declarants using TNETS’ modern customs technology reduces processing times and the potential for costly errors.
Expertise
Trade management is an often-overlooked career choice, and within that, trade compliance even more so. Without the necessary trade management personnel equipped with the right expertise, companies find that moving up the value chain in terms of streamlining customs processes, taking advantage of trade data and accessing free trade agreements is almost impossible. TNETS centralizes this expertise and ensures that team members with the right knowledge and experience are available at the right time to our clients.
Business Integrity
Supply chains of even some of the most sophisticated and compliance-minded organizations can be exposed to fraudulent customs and trade management practices. The lack of systems to facilitate thorough audit of all customs transactions and payments is often at least part of the cause. The systems deployed by TNETS facilitate the necessary audits which detect and prevent fraudulent customs practices.
Disruption
There are a range of innovations being delivered or planned in customs and trade management and their adjacent spaces, such as freight, insurance, warehousing, manufacturing and banking. Full digital processing of freight and trade transactions is only possible where digitised structured customs data is available as and when required. TNETS has been a disruptor from the first day of its existence, and always makes the underlying customs and trade data available through our system to allow businesses to complete the digitisation chain.
Data Security
Traditional approaches to customs processing where paper or pdf documents are exchanged between businesses and their supply chain partners puts the business at risk of data theft. Ensuring that trade data is exchanged by means of encrypted structured data helps to ensure that critical company information is kept safe. TNETS’ systems securely connect to customers and their forwarders obviating the need for insecure paper or pdf documents to be produced.
Free Trade
Many companies around the world consistently make use of free trade agreements thereby reducing rates of duty in markets around the world. Identifying such opportunities and putting the processes and procedures in place to harness them requires specialist knowledge and dedicated processing power. TNETS possesses such capabilities and resources, and help customers save significant sums and improve their competitive position through the smart use of Free Trade Agreements.