In today’s global marketplace, the success of B2B companies is no longer limited to their local region. With the increase in international trade, these companies now conduct cross-border transactions on a regular basis. However, with greater opportunities come more challenges, including the complexity of regulatory compliance. This is where powerful enterprise resource planning (ERP) software like Epicor P21 comes in handy.

Epicor P21 has been designed specifically for the manufacturing and distribution industry, with a particular focus on streamlining operations and improving supply chain management. However, one of its most valuable features is its ability to help B2B companies navigate the complexities of international trade compliance.

First and foremost, Epicor P21 provides a centralized platform for managing all aspects of cross-border transactions. This includes everything from order processing and inventory management to logistics and shipping. With all this information in one place, companies can ensure they are complying with the various regulations that apply in different countries, from product specifications to export restrictions.

Additionally, Epicor P21 offers tools to manage compliance with the constantly changing regulatory environment. This includes automatic notifications of rule changes, as well as data validation to ensure accurate classification and documentation. These features allow companies to reduce the risk of non-compliance and avoid potential penalties or delays in cross-border transactions.

Moreover, Epicor P21 provides access to global trade content and information through its partnership with Amber Road, a leading provider of global trade management solutions. This means companies using Epicor P21 have access to up-to-date information on global trade rules, tariffs, and customs, allowing them to make informed decisions and stay compliant.

One of the biggest challenges in international trade is navigating complex tax rules and regulations. Epicor P21 has a built-in Tax and Compliance Engine that takes into account various tax regulations and applies them to every transaction, ensuring accurate tax collection and reporting. This not only saves time and reduces errors, but also helps companies avoid costly tax penalties.

Finally, Epicor P21 provides seamless integration with other systems and applications such as accounting and financial management software. This gives companies full visibility into their compliance status, making reporting easier and providing transparency for audit and regulatory purposes.

In short, by leveraging Epicor P21’s advanced features, B2B companies can effectively manage and navigate the complex world of regulatory compliance in cross-border transactions. With streamlined processes, access to global trade intelligence, and automated compliance checks, companies can reduce expenses.