#USA #New York #Sourcemap #EU TRACES #EUDR Compliance

Sourcemap Launches Innovative Solution for EUDR Compliance

In a significant stride toward enhancing supply chain transparency and efficiency, Sourcemap, a leader in supply chain regulatory software, has officially launched its integration with EU TRACES and SAP ERP specifically designed for EUDR customers. This pioneering initiative enables businesses to achieve EUDR compliance seamlessly and swiftly, laying the groundwork for a more sustainable future.

The EUDR Context

The EU Deforestation Regulation (EUDR) aims to ensure that goods imported into the European Union are not linked to deforestation. It places a critical emphasis on due diligence and regulatory compliance for various stakeholders within the supply chain, which includes importers, manufacturers, and retailers. Compliance with EUDR is not just a regulatory requirement; it’s a vital aspect of a company’s sustainability strategy. Failing to comply can result in severe repercussions, including hefty fines and a tarnished reputation.

The Integrated Solution

Sourcemap's latest solution effectively maps each shipment back to its origins, whether they are farms or forests, and utilizes satellite imagery to monitor deforestation practices. Unlike traditional methods, which may take considerable time and effort, the Sourcemap system can scan and analyze data before submitting a Due Diligence Statement to the EU TRACES platform—all within minutes. This is achieved through an automated API that synchronizes with existing ERP systems, ensuring that day-to-day operations remain uninterrupted.

CEO Leonardo Bonanni emphasizes the importance of this new launch: "Achieving instant EUDR compliance is mission-critical for importers, manufacturers, retailers, and exporters. With Sourcemap, we provide the only live ERP and EU Customs integrated solution capable of handling the massive volume of data necessary for EUDR compliance."

The importance of reliability in compliance cannot be overstated. With over 250 brands already relying on Sourcemap, the software has mapped more than 5.5 million suppliers across diverse fields such as food, apparel, electronics, automotive, and manufacturing.

Notable Features

Some of the key features of Sourcemap's EUDR solution include:

• - N-Tier Mapping: Backtracking products to their sources and suppliers to ensure compliance at every level.
• - Satellite Analysis: Leveraging cutting-edge satellite imagery to monitor land use changes tied to deforestation.
• - Rapid Customs Clearance: Enabling efficient customs processes that can be completed in less than ten minutes.

Furthermore, this solution comes with the highly respected ISO 27001 certification, ensuring that it meets international standards for information security management—vital for protecting sensitive supply chain data.

Collaborations with Major Companies

The Sourcemap EUDR solution is already in use by several of Europe’s largest companies spanning the grocery, retail, electronics, and food sectors. This integration covers thousands of facilities and millions of shipments distributed across all 44 EU member states. Through this widespread adoption, businesses can fortify their compliance measures while enhancing operational efficiencies.

About Sourcemap

Founded in New York, Sourcemap has garnered significant accolades, being named TIME’s Invention of the Year for 2022 and recognized by Fast Company as one of the Most Innovative Companies in 2023. Its mission is to provide automated solutions that meet global supply chain due diligence requirements, including those dictated by US and EU regulations regarding forced labor, the EU deforestation regulation, and others.

With the recent launch of their integration solution, Sourcemap continues to lead the way in promoting ethical and sustainable supply chain practices, setting a benchmark for industry standards and paving the way for the future of responsible business.

For more information, visit Sourcemap's official website.