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Is Your Export Compliance Plan Up to Date?

April 11, 2022 Author: The Team at Global Wizard

Keeping any operating system updated can be a challenge and Export Compliance Plans are no exception. In particular, the Restricted Parties Screening (RPS) process should be maintained and kept up to date, no exception.

Ideally, components of a compliance plan are “self-updating.” That is, they are automated and monitored in a way that keeps them continually up-to-date.

That is our deliverable with the Global Wizard Restricted Party Screening application: a simple-to-implement and -use tool that users do not have to update to be compliant.

In changing landscapes such as the Russia sanctions, the GWiz RPS service minimizes the risk of missing a newly-added sanctioned entity, saving the company time and potentially money.

It has the added feature of flagging clients’ custom entities which might be accounts sent to collection or customers with excessive returns.

Here are the benefits of the Global Wizard Restricted Parties Screening API.

  1. Detailed results and the parameters of the screening - the metadata
  2. Area to document anything that requires additional research and includes the results of that research with what you screened.
  3. Continuous Screening will review those already screened that will provide an alert if statuses change.
  4. Screening at the scalability of global trade - Manage this pesky gnat of compliance for less than you think.
    1. Emphasize flexibility/scalability
    2. RESTful APIs
    3. Configurable screening parameters