Last week on episode one of our brand new WiseTech Global mini-series, we weighed in one of the biggest industry discussions at the moment – visibility. I was joined by Gene Gander of WiseTech and Amna Shah of AHD Consulting, one of WiseTech’s service partners, to reflect on some big industry questions. What exactly does visibility mean and why is it so important? What impacts are we seeing on the industry after several years of heavy investment? What are the barriers to achieving true end-to-end visibility? And what exactly is WiseTech doing to tackle those barriers? It was a really insightful episode, and a topic that we all need to get involved in, so I hope you all enjoyed it.
And today in episode two, we’re turning our attention to an equally complex area – and that’s compliance. Cybercrime, supply chain disruption, climate change, socioeconomic turmoil – every day seems to bring yet another challenge for compliance, leaving many organizations fighting to keep up. But if you’re considering letting one or two compliance issues slip down the priority list, think again. Because today we’re going to be revealing the true cost of non-compliance – and the data might just surprise you.
I’m joined by Craig Seelig, Product Manager of Customs and Compliance for North America at WiseTech Global, and Laurie Arnold, Vice President of Compliance at JAS Forwarding USA Inc, to talk about the evolving compliance landscape; the cost of non-compliance; the importance of technology in creating a single source of truth; and why cutting corners is a risk you can’t afford to take.
IN THIS EPISODE WE DISCUSS:
[01.49] An introduction to today’s guests.
[02.40] A closer look at the ever-changing compliance landscape, and some of the biggest changes that have impacted the industry in recent years.
“Things are always changing – you have to be on top of things!” Craig
[05.20] Why compliance has become a huge cost center for global organizations.
“It’s amazing when I talk with companies and I find out they have 80 or 90 systems. It’s hard to fathom that they can manage all of those – different contracts in different countries – and getting those systems to talk to each other is a huge challenge and a big expense.” Craig
[10.48] Why not investing in compliance can create a false economy, and lead to devastating business impacts.
“Consequences of non-compliance can be catastrophic… you could lose export privileges, you could have licenses or permits cancelled. But the biggest concern is the hit to the reputation of your company… Compliance is not an area where you want to try and cut those costs.” Laurie
[13.04] How technology can help to tackle modern compliance issues, and how a single, integrated technology can bring competitive advantage for organizations and help them more effectively navigate our complex regulatory landscape.
“The key is that you have a single source of truth – one set of data.” Craig.
[17.47] A closer look at the CargoWise customs and compliance solutions that are changing the game for clients.
[21.35] The added value of CargoWise’s denied party screening.
[23.35] Why JAS Forwarding chose to work with CargoWise, and the benefits of being able to see data from beginning to end in identifying patterns and opportunities.
[26.41] Why some of the world’s largest freight forwarders choose CargoWise.
[28.52] Craig and Laurie’s advice for achieving supply chain compliance.
“Compliance needs to be paid attention to… and you need to choose technology and partners who are going to help you in that.”
RESOURCES AND LINKS MENTIONED:
Head over to WiseTech Global’s website now to find out more and discover how they could help you too. You can also connect with WiseTech and keep up to date with the latest over on LinkedIn, X (Twitter), Facebook and YouTube, or you can connect with Craig on LinkedIn.
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