More and better automation needed.

• Position: Trade Compliance

Technology is the key item that would Improve a company's trade compliance program, according to the 2016 Thomson Reuters and KPMG International Global Trade Management survey, which also found that the majority of trade and supply chain departments lack the systems and processes they need to maximize the use of incentives, reduce complexity in classification, and automate tasks in the highly dynamic global marketplace.

"This reveals a serious disconnect between what trade professionals have and what they need to do their jobs effectively," notes Taneli Ruda, senior vice president and managing director for Thomson Reuters One Source Global Trade. "Results speak of inefficiencies in operational practices across the global trade and supply chain functions. There are different degrees of impact when we look into the particulars of product classification, systems integration, process centralization, and free trade agreement utilization, but they are all pointing at automation as pivotal to addressing those inefficiencies in order to contribute to the success of their businesses."

Adds KPMG's Doug Zuvich, partner and global practice leader of Trade and Customs: "Respondents were aligned to our predictions that trade regulation will continue to increase in number, scope, and complexity. The opportunity lies in improving the tools and methods that will enable efficiency gains in their global trade and supply chain management."

Key survey findings include:

* Manual processes continue to tie up trade...