Trade Compliance

GHY discusses changes to international trade regulations and explores cutting-edge compliance strategies.

Using KPIs to Manage for Compliance Success: Siemens Case Study (Part III)

Posted February 03, 2016

Siemens Canada is featured as a case study in our most recent white paper examining how leading traders use key performance indicators (KPIs) to track a range of trade compliance variables.

At Siemens, KPIs selected reflect the organization's commitments and its brand promise: to be ethical, efficient, innovative, serve their clients, and comply with the global regulatory environments in which the firm operates.

What is noticeably absent are KPIs around more conventional measures such as regulatory penalties, fines, or sanctions of any kind. Instead, the focus at Siemens is on the disciplines, processes, and protocols that will ensure they avoid punitive actions, with KPIs providing the dashboard for visibility well before a negative consequence is triggered.

As a world class company, Siemens clearly demonstrates how success and opportunity can flow from doing the right things, and doing things right. They view performance measures acting as the accountability tools to meet their goals and obligations to stakeholders, partners, clients, employees, and regulators.

Other posts in this series:

Click here to download the complete white paper.