There are already more than 400 ratified free trade agreements (FTAs) around the world to ease trade among the involved countries and offering savings potentials to companies with respect to customs duties, which results in competitive advantages. However, companies can leverage such savings potentials and competitive advantages only by mandatory fulfilment of a number of complex rules of origin of goods as well as their detailed documentation. This requires to establish a process for the calculation of the origin of goods which conforms to the law and auditing requirements. This is where MIC supports its customers with its origin calculation solution!
Just recently in March 2017, a world market leader in the technology sector signed a contract with MIC, which covers the following modules:
- MIC OCS for origin calculation (CALC) covering several EU free trade agreements
- MIC CCS for increased level of automation and compliance in the customs tariff classification (CTC) process for Germany
Already 3 months later, after the go-live of phase 1 with some piloted locations, the company benefits from an automated origin calculation. What used to be tens of thousands of working hours is now being calculated in a very short time. This is an immense reduction of effort and minimized costs, while improving compliance at the same time.
The first project phase, the introduction of MIC OCS, was successfully implemented within shorter time than initially planned. The forthcoming second project phase includes the MIC CCS rollout and the connection of additional sites to MIC OCS.
MIC is the world leader in providing global customs and trade compliance software solutions. The MIC group currently employs over 270 professionals around the world. More than 700 international customers, many of whom are global players, rely on MIC software products for their global customs and trade compliance management solutions.
If you would like to learn more about MIC, please contact us via email [email protected]mic-cust.com.