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Companies that understand the importance of complying with regulations from the Office of Foreign Assets Control (OFAC) know only too well that the Treasury Department’s governing rules are constantly being updated and strengthened to protect national security interests at home and abroad. They also know that to stay ahead in this game they need to be nimble, vigilant and proactive.
That’s where eCustoms and its suite of Visual OFAC automation technologies comes in with a range of online, batch, integrated, automated and mobile OFAC solutions that help businesses reduce the risk of transacting with specially designated nationals (SDNs) and others on OFAC watch lists.
eCustoms fields in-house teams of subject matter experts, customer service specialists, and IT, development and technical support experts. Combined, the solutions and staff work together to help customers satisfy their compliance obligations now, and in the future. This is also true of eCustoms’ Visual Compliance solutions for export and international trade compliance.
eCustoms President, Marc Roy, said that in the compliance landscape, the only constant is change and that “Our core customer deliverables include not only providing user-friendly software solutions, and optimization training, but just as importantly, giving them peace of mind that we are abreast of future government initiatives and have a robust roadmap in place."
Being able to keep up with regulatory changes has helped eCustoms' customers maintain compliance with existing and new requirements, freeing them up to focus on their core business.
Steven Crozier, eCustoms’ Vice-President of Technology, said that this foresight was a company-wide philosophy and key development strategy since the company’s inception in 1981.
"We make and keep close relations with government agencies. A few byproducts of this are that our solutions are certified by the relevant government authorities, and we are asked to provide our input into official compliance initiatives."
With more than three decades experience, we are ready to meet any requirement and give them (the customer) a solution that will be suited to them now, and as their needs change in the future
On the other side of the coin, the company is also an active participant in industry events, and a member of major trade compliance associations. Roy explained that this was where his people meet customers and get to know their real and detailed issues, which then helps his executive team know where to place the focus.
“We always strive to satisfy a client’s needs, no matter who they might be, or what those requirements may be,” Roy explained. “We understand that compliance is a very nuanced process, and that there is not and never will be a one-size-fits-all solution. Everyone’s situation is different. Everyone has different products, markets, customers, workflows, and a different scope to their compliance requirements. With more than three decades experience, however, we are ready to meet requirements and give them a solution that will be suited to them now, and as their needs change."
The result has been eCustoms' ongoing ability to help thousands of customers across the spectrum of industry (banking, insurance, finance, travel, manufacturing, distributing, retailing, ecommerce, aerospace and defense, education, research, software…), meet their OFAC compliance obligations. With this comes recognition in the trade compliance market that the company is a serious player with a long-term view.
“When customers choose our OFAC compliance solution, we want them to know that they are getting the best in the industry; that they are getting an industry leading solution that can meet their needs and anticipate the changing compliance landscape and help them preemptively meet those changes,” Crozier said.
“Our greatest strength has been in living up to that ideal with our customers and clients over the years,” he added.