Precision Software, a division of QAD Inc. QADA, +2.90% QADB, -1.41% and a leading provider of industry-leading transportation and global trade management software solutions, today announced that Serial System Ltd., a Singapore-based distributor of electronic and electrical components, selected its Precision Trade Compliance and Global Trade Management solution.
The deployment of Precision Trade Compliance and Global Trade Management software provides increased visibility into trade compliance screenings and helps standardize critical business processes. It enables Serial System the ability to automate compliance checks and audit compliance processes to ensure due diligence with in-country regulatory programs and cross-border customs requirements.
“We are pleased to deploy Precision’s Trade Compliance and Global Trade Management solution to help us better support our supplier network requirements,” stated Serial System Ltd. Vice President Sidney Thong, Corporate IT & Central Functions. “Regulatory compliance is a critical consideration for a global distributor of electronic components and Precision’s solution helps ensure we are compliant in all markets we serve.”
“Global distributors of electronic and electrical components must comply with regulations from the various jurisdictions in which they operate or risk suspended operations,” said Precision Software President Steve Gardner. “The Precision solution automates screening processes and provides the audit trail necessary for any required audits which addresses a major concern for companies operating in multiple markets.”
The implementation of the Precision Trade Compliance and Global Trade Management solution has helped the company meet trade compliance requirements for Serial System’s Line Card suppliers and local customs authorities. All orders are screened through the Precision software when shipped from warehouses across Asia. This was a critical factor as Serial System Ltd. required a scalable solution able to maintain regulatory compliance with markets throughout Asia, Europe and the United States.