Trade, the lifeblood of the global economy, is rapidly evolving. Volume is set to double over the next decade, traditional trade routes are shifting, and with the onset of digital trade—the very concepts of borders and goods are changing.
To survive and thrive, customs agencies will need to change their core operations and follow these five must dos:
- Go digital
- Predict future behavior
- Redesign processes
- Optimize revenue streams
- Develop a more dynamic workforce
Doing so will help them facilitate the legitimate trade of goods and digital services, limit criminal activity, adapt to changing legislation, and improve the overall effectiveness of their customs solutions— delivering public service for the future.