Top 7 Global Trade Management Software for Imports and Exports
In this modern era of international trade, businesses encounter many challenges, such as handling bundles of customs documents, calculating customs duties and taxes, and navigating intricate trading regulations and rules. All these issues can lead to customs delays or goods suspensions.
As per a study conducted by Martincus et al., “In Uruguay, a 10 % increase in delay times resulted in a 3.8% drop rate in exports.”
There is an increasing demand for an automated, all-in-one system to tackle the import, export, and customs challenges. One such solution is Global Trade Management Software. It can be challenging to select the best one when searching because there is a lengthy list of options.
In order to help you select the trade management software that is most appropriate for your company, we have compiled a list of the top 7 trade management softwares.
Understanding Trade Management Software
Trade Management Software is a system that helps businesses manage and streamline their global trade procedures. It helps optimise and automate tedious trade-related activities, reduce manual mishaps, and improve efficiency. With their AI-driven features and tools, trade management systems enable companies to manage import and export documentation, compliance, customs management, and all other trade processes.
Benefits of Global Trade Management Software
GTM software provides you with the following benefits:
Increased productivity
With their ability to automate customs documentation, tax calculations, and logistics management, these softwares streamline customs clearance and the overall trading process. This translates to reduced burdens and quicker processing, improving productivity.
Reduced cost
Global trade management solutions reduce costs related to compliance and shipping by taking advantage of Free Trade Agreements to reduce customs taxes and duties. Moreover, operational costs can be saved when tasks and trade processes are automated.
Increased visibility
With the help of International trade compliance software, firms can monitor goods, manage shipments, and analyse trade data in real time. This visibility improves supply chain management, makes compliance monitoring possible, and strengthens decision-making. Having control over trade processes allows businesses to react quickly to modifications or disruptions in operations.
Enhanced compliance
International trade is expanding due to the growth of e-commerce, yet it is still difficult to navigate the complexity of trade legislation and compliance. With the help of global trade compliance automation software, companies can ensure compliance with trade and customs legislation and sanctions while being informed and efficient. This opens up new development prospects for businesses in the global economy while also protecting them against fines.
Growth and scalability
Global trade management software is capable of handling increasing trade volumes and complexities, offering scalability to meet the demands of growing business. By integrating with the ERP system, this trade compliance solution supports seamless growth without affecting trade operations.
Top 7 Global Trade Management Software
iCustoms
iCustoms is a powerful and industry-leading Customs Declaration Software that makes use of machine learning and artificial intelligence to streamline and simplify the customs declaration process for customs brokers and businesses.
Features
Effortless document processing: With the Large Language Models (LLMs), our efficient Intelligent Document Processing (IDP) solution elevates customs declarations. It brings remarkable accuracy to data extraction and validation, ensuring the efficiency and accuracy of your customs declaration process.
Improved visibility and control: iCustoms’ automated CDS software provides real-time visibility into the goods movement, improving trading processes and helping you make the right decisions.
One-stop shop: With iCustoms’ multitasking global trade management system, you can bid farewell to managing multiple trade and customs processes individually. It helps you handle everything involved, such as documentation, tax calculation, product classification, and declarations, efficiently.
AI usage: With the help of artificial intelligence (AI), iCustoms captures unstructured data and fills it automatically in the customs declaration forms, eliminating the hassle of sorting out data manually and avoiding the chances of mistakes.
Reduced time and cost: The contemporary AI features of iCustoms optimise trade and customs procedures, saving you time and resources.
Easy integration: The AI-powered user-friendly system of iCustoms integrates easily with the current operations of a company, making the procedures simple and efficient.
Panjiva
Panjiva is a platform that brings transparency to international trade with its powerful data visualisation. It serves as an informational platform for trade professionals, providing them with space to connect.
Features
Smart analytics
Market insights
Competitive analysis
Customisable searches
PartnerLinQ
PartnerLinQ ensures real-time visibility, which, as a result, empowers decision making. They help streamline complex global supply chain ecosystems by proactively identifying supply chain risks, promoting sustainable growth, and exploring new revenue opportunities.
Features
Unified digital connectivity
Improved visibility and control
Mapping of 3,700 trading partners
Delivery of customer success metrics.
Zonos
Zonos facilitates global trade by equipping it with scalable technology that enhances accessibility. This platform grants businesses control over their cross-border trade by helping them in the following areas:
Duties and taxes
Foreign payments
Restricted items
Fraud mitigation
Features
Full country compliance
Currency conversion
Automated tax compliance
SAP Global Trade Services
SAP creates intelligent enterprise networks and ERP for companies of all sizes, providing sustainability, transparency, and resiliency in the supply chain network. With their end-to-end suite of services, they enable customers to adapt to any modifications and operate profitably.
Features
Inclusive and diverse culture
Sustainability at the core
Corporate social responsibility
Trademo
Trademo builds a strengthened operational supply chain, ensures compliance with the trade rules, and assists companies in finding more commercial opportunities. This platform gathers data from various sources, such as the Census Bureau, financial data providers, the UN, etc., and then processes this data to build customer insights and supply chain knowledge charts.
Features
Product master
Enhanced sanction protection
Ensures compliance proactively
Trade reference
Alpega TMS
Alpega TMS is a worthwhile option for retailers and manufacturers who want to digitise their logistical processes. The platform provides an amazing end-to-end transportation management system that includes modular solutions for increased efficiency, cost savings, visibility, and sustainability.
Features
Transport planning
Smart booking
Reusable packaging management
FAQ's
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About iCustoms
iCustoms is an all-in-one solution helping businesses automate customs processes more efficiently. With AI-powered and machine-learning capabilities, iCustoms is designed to streamline your all customs procedures in a few minutes, cut additional costs and save time.