Global tech industry and significance of importer of record
International trade is a tricky business that calls for big concerns like import regulation, compliance rules, and trunky supply chain processes. Trade across international borders is a big concern when it comes to tech companies, be it the manufacturers or service providers. At some points are for the hunt of good IOR service providers. As explained in our earlier blog post Importer of the record is a person or a company who is responsible for the goods imported in a particular country.
So why is it so important for tech companies and why is it not so important for companies related to other sectors? IOR or Importer of the record is a term that refers to an organization that helps you import your tech equipment in accordance with the laws and regulations. In a nutshell, your IOR provider will be responsible for handling almost 95% of your logistics and supply chain process.
In many cases, an IOR provider is doing the door-to-door service where it is handling the complete logistics of your tech deployments. So now we have understood what IOR is and how it can help you with your logistics and supply chain.
So why do tech companies need an IOR provider so badly? The answer to this question is very simple if we bother to look around and observe the vast technological advancement. In the past 10 years, we have advanced way faster than we did in the past 40 years. This is because every country has been working hard and investing money in technology and selling everywhere in the world.
Importer of Record and Tech Industry
Tech companies do not just rely on the local market to grow their business. They reach out to their customers far beyond the border to sell their tech goods. That is why they need an IOR provider who can help them sell their goods around the globe. When we say sell it doesn’t mean that the IOR provider also gets engaged in selling, but without a good IOR provider company won’t be able to do so.
Tech companies do not have their physical presence in every country neither they have import licenses to import goods in other countries. For instance, companies based in the USA cannot import goods in Uganda because both countries have different tax and customs rules. That is why an IOR provider plays a vital role in expanding the business of Tech companies beyond the borders.
Compliance check and Permit requirements
Every country has its own import rules with different structures of taxation. Especially when it comes to IT and Tech equipment almost every country has some strict import rules and permit requirements. An IOR service provider is aware of all these rules and regulations. They help prepare all the necessary documentation and permits well before goods are being moved to minimize the clearance time and expedite the delivery. An expert IOR service provider makes sure that the import is done in compliance with the local laws and regulations.
Customs and Cargo Handling
The IOR service provider will take full responsibility for handling your goods from the moment they are booked in the cargo. Being aware of the customs and cargo handling formalities they know how to get the goods cleared fast.
Role of IOR and effective supply chain management
Since the term is now understood and many of you have a good idea of what and how an IOR provider functions, their existence is merely forgotten due to the complicated trade process. But we just cannot neglect the importance of an IOR provider. In fact, Importer of Record is an integral part of an effective global supply chain process. Being streamlined by an entity in the supply chain an IOR provider can be the defining success factor. Using an IOR provider like AGOL Worldwide minimizes the risk of any compliance violation which in return saves money and time across all parties. We at AGOL take full responsibility and remain accountable for each import. So that whenever these goods are called back for replacement every import document is in place to fulfill the export process.
To learn more about AGOL Worldwide’s end-to-end logistics solutions check out our services and seek expert advice to address all your logistics needs.
