Global Trade Content: Smart ECN
ONESOURCE Smart ECN
As companies drive growth through international sales, more products are shipped to new destinations and subject to a myriad of government regulations. In this fast-paced and complex environment, the risk for getting export classification wrong has never been higher. Selecting the wrong ECN can lead to export license determination mistakes or even not being able to export the product, and the penalties for export violations are severe.
Classify smarter! With ONESOURCE® Smart ECN, you can streamline and automate your export classification process so you can reduce risk of misclassification, increase accuracy, and improve collaboration across your organization. ONESOURCE Smart ECN gives you access to the most up-to-date global trade information so that you can be confident that you’ve made the correct classification decisions and avoided costly penalties.
Intelligent ECN search
ONESOURCE Smart ECN makes it easier than ever to find the right ECN, with three unique mapping capabilities:
- Search ECN: Key in an ECN or a description of the product you’d like to classify, and our robust content database will return a list of ECN options that you can drill down to find the best fit.
- Similar Product: With this feature, the tool looks at products you’ve assigned ECNs to historically and compares them with the product you’d like to classify to find similarities. The tool recommends the best ECN matches, ranked by how closely the products with that ECN match with your product criteria. Then, you can scan the descriptions and select the ECN.
- HS to ECN: If you have previously classified the product with an HS number, our tool can use that information to provide correlated ECN numbers (for those countries which publish HS to ECN correlations), ranked by frequency of HS-declaration association. Then, you can scan the descriptions and select the ECN.
ONESOURCE Smart ECN uses the power of our Global Trade Content database to give you the broadest coverage of up-to-date regulatory information. With data from over 70 countries and territories, you can feel more confident than ever before in your trade content coverage when it comes to export classification.
With Smart ECN you have:
- Reduced risk: take the risk out of manual misclassification of exports that lead to costly penalties.
- Multiple classification options: with our three different methods, you have more research options than ever to find the right ECNs.
- In-depth descriptions: drill down into descriptions for ECNs and additional information, including tariff numbers, to ensure you’ve got the best fit.
- Single, streamlined interface: all classification methods are on the same screen, so you can compare results across the searches and do further research as necessary.
- Up-to-date content: content coverage of over 70+ countries and territories, with regular updates so you can be confident in the ECN information you’re viewing.
With our suite of solutions, you can consolidate all global trade processes using a single user interface for everyone involved in the supply chain.