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Back To All Posts | Posted on December 14, 2020

Increase Your Compliance and Profits with QC Audit Tool

Quality Control (QC) audits are an important but often complicated manual process if it’s being done at all. Ensuring that your customers are as compliant as possible gives you an advantage over your competitors. Streamline your QC audit process with ITS.

ITS’s QC Audit Tool delivers advanced software for performing QC audits, guaranteeing that you and your customer’s businesses are compliant with CBP regulations while also increasing your profits. When you use the QC Audit Tool, auditing is easy, fast, and integrated into one core system.

Find and Correct Problems Before They Become Fines and Penalties

Compliance is a critical part of running your business. Increase your compliance by acting proactively with ITS’s QC Audit Tool and reduce potential fines and penalties from CBP.

When CBP issues a release date, the QC Audit Tool automatically flags the transaction for review. The tool makes it easy to compare the transaction’s invoice to the 7501, and helps the broker screen for any additional documentation that may be required for legal entry (such as licenses, certificates, partner government agency (PGA) forms, etc.). By proactively screening, you can intervene if there are any discrepancies and make corrections before the entry goes on statement or is authorized to be paid.

When you correct errors beforehand, you eliminate the need to perform a post-summary correction (PSC). The benefits of this are two-fold. First, it saves you the additional work and complications associated with a PSC. Secondly, it keeps you in CBP’s good graces.

ITS has also made it easy for you to perform a large number of audits all at once with batch QC updates. Batch QC updates allow you to update thousands of transactions in mass, saving you time otherwise spent manually correcting each error.

Standardize Your QC Auditing Processes

Not only does the QC Audit Tool increase your compliance, but it also standardizes and simplifies your work, allowing you to focus instead on what’s most urgent. There are many benefits to standardizing your quality control processes. These include less overhead and errors, increased transparency into the history of a transaction, and insights into your highest priorities.

Before using ITS’s software, quality control processes can be spread out across many compliance specialists, each with their own way of working. With ITS’s QC Audit Tool, you standardize your quality control processes. Because all the work is performed within the system, you don’t have to manage disparate processes that are person dependent.

When performing QC audits, it’s often difficult to understand the series of events around a transaction and the rationale that informed those decisions. Interpreting the data is even more challenging if a year or two has passed since the transaction occurred.

With ITS’s QC Audit Tool, the entry history is made transparent. You can access the full history of how and why a transaction has moved the way it has. Having this information is valuable when performing post-summary corrections and creating mitigation strategies when dealing with CBP. Also, the tool digitizes the paper trail, which increases transparency and guarantees that paperwork doesn’t get lost.

Further, this centralization also helps you keep track of complex transactions and discern at a glance what work remains. The QC Audit Tool identifies what transactions are closest to going on statement and what issues still need to be resolved. With this information, you can delegate the appropriate attention and resources to the transactions most in need of your attention.

Get Better Insights into Your Business

ITS’s QC Audit Tool enhances insights into your business. The tool keeps track of all the work you perform within it. You can analyze this data to better understand the unique strengths and weaknesses of your company. Identify and hone in on key performance metrics, such as your most common errors, which compliance specialists are generating the most errors, the average time to completion on different error types, and your top-performing compliance specialists.

Are you ready for an audit? Contact us today!

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