Free Trade Agreements offer incredible opportunities to reduce costs in a global supply base. Organisations that take advantage of trade agreements can reduce total landed costs on sourced product, and improve profit margins from 3 to 7% on average on exported products.
However, 67% of respondents to our survey indicated that managing country of origin and preferential status is "Very Difficult." Challenges like these hinder companies from attaining their maximum potential savings from free trade agreements.
Read our latest white paper, " Trade Agreement Management Benchmark: Survey Results & Best Practice Research " to take the first step in optimising your company's trade agreement usage.
Based on a survey of 300+ respondents, we have gathered industry-leading best practices and key benchmarks for managing trade agreements and maximising the potential reductions in landed costs.
This complimentary benchmark report uncovers many detailed characteristics of trade agreements, and divulges key insider information and usage statistics about free trade agreements.
- 23% of companies have certificate error rates of over 25%
- 7.5% of companies are not at all prepared for an audit by customs organizations
- 56% of companies using trade agreement software save over $1 million per trade agreement per year
- And, more than half of companies using solicitation software are able to manage with less than five resources
For additional benchmarking facts and best practice analysis,