With penalties for violating export control laws that can potentially reach $30 million dollars (USD), the reasons to build compliance checks into a company's business processes and to find software that can establish protocols for processing export orders and create transaction records are compelling. Also, the merging of federal agencies into huge organizations like the US Department of Home Security (DHS) will make software an important tool for complying with security mandates. Import and export administration, trade policy, and national security are all converging under a single bureaucratic umbrella, and that means importers and exporters will need to organize data in a similar fashion.
The other aspect to consider is the verification of financial data and business processes. Shippers that are involved in mergers and acquisitions, or undergoing customs and tax audits can use GTM software as an audit tool because it automatically records each step in every trade transaction. This capability also helps companies comply with the US Sarbanes-Oxley Act (SOX), which requires companies to certify that their business processes and financial statements meet specified standards (for more information, see Attributes of Sarbanes-Oxley Tool Sets). If there is sufficient reliance on export revenues that it would materially affect a company's financial performance if something went wrong, such as a denial order forbidding the company from exporting because of a violation, then the company's export control procedures would have to be certified.
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