Enabling Proactive Denied Party Screening (DPS) through TechnologyWith operations across the U.S. as well as in the Netherlands and the U.K., Ohio-based Emerald Performance Materials produces and markets specialty chemicals for a broad range of food and industrial applications, such as aerospace, food, beverages, cosmetics, household products, automobiles, sports gear and many more. For years, Emerald has used Descartes’ on-demand denied party screening system to manually screen customer data. As it’s becoming more and more of an industry best practice to screen the full range of participants in a company’s business, Emerald is now using Descartes’ dynamic screening solution to proactively monitor suppliers, Logistics Service Providers (LSPs) and employees in addition to global customers and trading partners.
Why Descartes for Denied Party Screening?
Descartes’ industry-leading denied party screening solutions provide manufacturers, distributors, retailers, logistics services providers, banks and technology companies with the critical capabilities to help identify and avoid conducting business with government sanctioned parties around the globe. With Descartes MK Denied Party Screening™ solutions, companies of all sizes can easily and efficiently screen against a comprehensive international database of denied and restricted parties. With our advanced sanctioned party list screening solution in place, customers can tailor their screening processes to fit their unique risk parameters, flag potential compliance issues for resolution, and integrate denied party screening with other internal systems for global trade and enterprise management.
Denied Party Screening Software Improves Trade Compliance and Lowers Risk
Government agencies and international organizations regulating global trade maintain a variety of lists of people, organizations and countries with whom conducting business is restricted or prohibited. In addition to the potential for reputational damage, penalties for non-compliance can include fines, revocation of export privileges and criminal charges. As updates are made to denied parties lists—some of which change hourly--Descartes’ solutions provide companies with robust capabilities to screen data at a level of automation that saves compliance teams an enormous amount of time, and helps companies enhance trade compliance and better mitigate risk by centralizing and standardizing compliance practices across their operations.
To learn more about Emerald Performance Materials, visit www.emeraldmaterials.com.