Today's tumultuous political and economic landscape has led to heightened regulatory scrutiny and increased global security concerns, making compliance screening more important than ever. Staying up to date is essential in order to avoid inadvertent trading with sanctioned parties in the increasingly interconnected global marketplace.

Why is screening important?
  • Risk of blocked shipments
  • Huge penalties for violations
  • Risk of imposed export restrictions
  • Reputational damage

How it works 

Portorium ensures you are compliant with laws and regulations wherever you trade, and lays the groundwork for expansion.

Discovery

Our team will first define with you what your needs are and the concerns applicable to your business, i.e., export controls or dual use classification, compliance screening, transactional exports controls, or license management.

Onboarding

Following the scope of work agreed upon during discovery, our team will set up the solution and configuration settings, including risk assessment, hit probability ratio, and business rules. 

Day-to-day

Business partners can be automatically screened from your ERP’s master data, sales orders, outbound deliveries, invoices, etc., either via the standard API, via SAP plugin, or manually. Sanctioned party lists are included and automatically kept up to date.  If there is a match, the solution will flag it and indicate the context of the sanction upon which you can keep the party blocked or consider as a ‘false positive’. If you don’t have a dedicated compliance manager available, our managed services team can monitor the screenings and alert a designated person in your company to make the final decision to block/unblock.  

For export controls, transactions such as sales orders, outbound deliveries, shipments, or invoices can be automatically screened against controlled goods, either via the standard API or via the SAP plugin. If the solution identifies a controlled goods item in the transaction, you can decide to either unblock the transaction or trigger a license request. Our managed services team can monitor this process if there is no dedicated trade compliance team at hand.  

If the additional option of license management is chosen, the solution, in addition to export controls screening, will also automatically keep track of transactions, quantities, and values related to the obtained export licenses for compliance and reporting reasons. Our managed services team can monitor whether certain export licenses need to be renewed to avoid blocked shipments.  

Software solution
  • Automatic or manual screening of business partners
  • Checks shipments for movements and export restrictions
  • Analyses and handles potential matches and screening
  • Defines own jurisdictions for export control checks
  • Manages and monitors validity and usage of export licenses
  • Logging checks and events, archiving, and  statistical data analysis
  • Daily updates of restricted party content
Managed services
  • Monitor the screenings and alert a designated person
  • Monitor whether certain export licenses need to be renewed to avoid blocked shipments
  • Interact with your company to block/unblock business partners, shipments
  • Interact with your company and authorities for license renewal

Coverage

The most common lists for Europe, the US, and Asia are provided directly in the solution and can be complemented by many more lists from appointed content partners. This meets every demand with the right list package. 

Rules and data about export laws for transactions screening are included for EU, Germany-specific law, and US (EAR) law. Additional jurisdictions worldwide are available via manual restrictions – China, Russia, or Switzerland, for example. Comprehensive license management is included for the jurisdictions DE, UK, and US ITAR.
 
Trade compliance

Mitigate the risk of international trade

Make sure you are compliant with the trade laws in the countries where you do business.