Nearly 60% of respondents who know about the regulation expect it to impact their businesses, yet less than half are prepared to meet December 4, 2024 deadline
SEATTLE, WA, November 7, 2024 – Trade Tech, Inc., a global logistics platform, has unveiled critical findings from a recent survey that highlight significant awareness and preparedness gaps for the upcoming ICS2-ENS regulations and EORI requirements. Being on the forefront of this issue since late last year, Trade Tech conducted the survey on its website over the last few months to determine industry awareness and preparedness.
Survey findings underscore the need for all stakeholders involved in cargo shipments to and throughout the EU to proactively address compliance with these evolving EU Customs regulations, with a key deadline looming on December 4th, 2024.
As the logistics landscape becomes increasingly regulated, ICS2-ENS compliance is set to reshape freight processes into and throughout the European Union. Trade Tech understands the significant implications of non-compliance, and the survey findings suggest that a lack of readiness could hinder the industry’s ability to maintain streamlined and compliant operations.
Key Findings from the Survey:
- ICS2-ENS Awareness: Approximately 47% of respondents were not aware of ICS2-ENS, indicating a critical knowledge gap within the industry.
- Preparedness for ICS2-ENS Compliance by December 2024: Half of the respondents are not prepared to meet the December 2024 compliance requirement, signaling an urgent need for action.
- Regulation Timeline Awareness: Only 56.5% of respondents indicated they know the deadline for compliance, while a substantial portion remains uninformed, which may impact timely adherence.
- Perceived Impact of ICS2-ENS: Industry participants expressed varied expectations, with 58.8% foreseeing an impact on their operations and 32.9% unaware of the regulation’s effects.
- EORI Number Awareness: Although 58.2% know what an EORI Number is, a significant percentage remains unaware of its necessity for EU-bound shipments.
- Requirement for EORI Registration by June 1, 2024: Only 47.1% of respondents recognized the need for an EORI Number registration.
“It’s our objective to help the industry transition to the new ICS2-ENS requirements with the least amount of impact on the flow of cargo. We conducted the survey to gauge readiness, and our findings show a clear need for those involved in EU trade to take immediate steps toward ICS2-ENS compliance and for us to be more vocal about the urgency,” said Bryn Heimbeck, President and Co-Founder, Trade Tech. “We know the industry tends to wait until the last minute to prepare for Customs requirements and this creates stress for our customers, but we are poised and ready to handle this last-minute surge, helping our clients every step of the way.”
Trade Tech’s survey was conducted via its own website and serves as a timely reminder of the need for education and preparedness within the logistics industry as it faces these significant regulatory changes. Through its innovative, integrated platform, Trade Tech continues to support its clients by offering solutions that streamline compliance, enhance visibility, and ensure operational readiness.
Mr. Heimbeck continued: “We are dedicated to equipping our clients with the necessary tools and resources to navigate these regulatory challenges confidently and efficiently, reinforcing our role as a critical partner in global logistics. We have extensive experience with comparable regulatory initiatives in the past. Simply put, companies that fail to prepare may face significant disruptions, including the possibility of their shipments being halted and the imposition of fines.”
In a further commitment to ensuring regulatory compliance and streamlining the complexities of global trade, Trade Tech launched a website dedicated to helping companies navigate the complexity of Customs regulations at cargofiling.com. This dedicated website serves as a comprehensive resource for businesses to better understand and meet the demands of the EU’s ICS2-ENS regulations and other jurisdictions. By providing expert guidance and essential tools, cargofiling.com helps customers and prospects prepare for the December 2024 filing deadline, ensuring safe and secure movement of goods into and throughout Europe.
About Trade Tech, Inc.:
Since 1997, Trade Tech, Inc., a global logistics platform, has provided world-class solutions that connect shippers, importers, Customs House Brokers, NVOCCs, carriers, truckers, and warehouses, enabling full visibility across the supply chain. With its multi-tenant, cloud-based platform, Trade Tech enhances connectivity, reduces operational costs, and minimizes errors for its clients globally—without the need for software downloads. For more information, please visit tradetech.net.
For additional information, visit tradetech.net.
