Descartes Study: 39% of High-growth Companies Leverage Trade Compliance as Competitive Advantage

Core Insights - The study by Descartes Systems Group highlights that 39% of fast-growing companies view trade compliance as a competitive advantage, compared to 22% of slower-growing companies [1] - Technology is deemed very or extremely important for competitive advantage in trade compliance strategies by 57% of surveyed companies, with 72% of fast-growing companies affirming its significance [2][3] - Fast-growing companies allocate an average of eight personnel to trade compliance activities, while those expecting limited or no growth allocate an average of six [4] Technology and Trade Compliance - 86% of fast-growing companies consider technology fundamental or highly important to their growth strategies [3] - 47% of fast-growing companies invest in technology as the primary method to address international trade challenges, in contrast to 18% of companies anticipating limited or no growth [3] Compliance Team Structure - Companies with over 15% expected growth in the next two years have a more robust compliance team, averaging eight members dedicated to trade compliance [4] - The emphasis on building a well-resourced compliance team is a strategic move for higher-growth companies to leverage trade compliance as a competitive advantage [5] Survey Details - The study surveyed 887 corporate decision-makers in international trade compliance across various countries, aiming to understand strategies and technologies that provide competitive advantages [5]