Procurant Launches Tariff Charge Management for Retail Grocery Buyers
Procurant, a provider of software solutions for the food and retail industry, has introduced a new capability for managing tariff-related charges within its Procurant Commerce platform. This latest enhancement gives retail grocery buyers new tools to track, manage and report on import tariffs across their purchase orders and invoices.
With this release, Procurant buyers can now:
- Set up and manage tariff charge rules.
- Apply tariff rates at their discretion on a per-order basis.
- Automatically calculate and apply tariff charges to purchase orders.
- Ensure that tariff charges are included on corresponding invoices.
- Generate reports reflecting tariff-related charges.
[RELATED: Procurant Expands Retail Grocery Connections for Suppliers]
“Tariff charges are a growing issue across the retail food industry, and our customers need simple, transparent tools to manage them efficiently,” said Kevin Brooks, chief revenue officer at Los Gatos, Calif.-based Procurant. “This new capability reflects our commitment to meeting the needs of retail grocery buyers operating in a rapidly changing environment.”
The new functionality is available to all buyers on the Procurant Commerce platform and requires no additional configuration or software downloads. Retailers and suppliers working within the platform can experience a seamless, automated workflow, from PO creation through invoicing, with complete visibility into tariff charges that align with their organizational policies.
President Donald Trump unveiled a minimum 10% tariff on more than 100 trading partners, along with additional country-specific rates, on April 2, or “Liberation Day,” as he dubbed it. The move was greeted with trepidation by the retail industry, citing concerns of higher prices and decreased competitiveness.
