Episode Details

Episode 18: Today, Omar Ayyash, President & CEO of the World Trade Center Kentucky interviews Lisette Bryson. She's the Global Manager for Trade Compliance at Alltech. They're going to discuss her experience and the importance of compliance, as it relates to global trade. It's an ever-evolving, regulatory landscape.

Meet Lisette

Lisette joined Alltech in July of 2024. However, she has an extensive background in trade compliance, working both directly for companies and in a consulting capacity. The biggest challenge companies tend to face when engaging in global business is managing the trade compliance and regulatory environment. She explains that Alltech is involved in over 140 countries, so the task is enormous.

The past several years have been extremely complex. There was Brexit in 2016. The US exited the TPP agreement in 2017. The USMCA was implemented in 2020. Additionally, the geo-political changes have continued to change in many other regions of the world.

Ensuring Your Company is Compliant

There is a wide range of regulations involving tariffs, quotas, export controls and many other issues a company must monitor and adjust to, if it's going to be successful in international trade. Lisette explains Alltech's strategy to trade compliance as having 3 components.

The first is the ability to rely on local teams. These resources are on the ground in specific countries or regions and have a better understanding about the requirements in their operating zones.

The second is the reliability of Alltech's partners. These include suppliers, logistics providers, and others who will be involved in Alltech's efforts to do commerce in specific markets.

The third strategic component is leveraging technology. Lisette is a strong proponent of using the tools that can help them to make the best decisions and to stay connected to the flow of regulations.

How Is Technology Assisting in Trade Compliance?

In a former role, Lisette was responsible for leading the IT global trade strategy. Her team was able to evaluate various software options in an effort to find the best for the company. However, she explains why she favors using bots to fulfill specific tasks.

For instance, entries needed to be reviewed before the summary report needed to be filed. This process helped to identify potential errors prior to submitting the report. The bot reviewed each scenario to ensure the specific data was present and that it was correct, when compared to related documentation. This technology helped to avoid discrepancies, time related to error remediation, as well as the cost of the time involved in correcting errors after they were submitted.

She recommends using AI for classification of material and products. AI can also be used for designation of various ECCN numbers. There is a variety of technology-based solutions to assist companies in avoiding trade compliance issues, if they are willing to implement them.

Technology Drives Cost-Savings in Compliance

Lisette describes how she and her team approach the funding requests from the C-suite. It's important to shift the paradigm focus on adding another line-item expense on the P&L, to one of value based on the cost-saving results once the technology is properly implemented.

The basic framework of the argument is that without trade compliance, selling to specific markets won't be possible. This leads to a discussion of ROI