With CBAM reporting requirements now in effect and the first quarterly report due 31 January 2024, now is the time for EU producers and non-EU suppliers to deploy the data capture and reporting capabilities in order to be compliant and prepare for the financial obligations to follow. At a high level, the first step for leadership is to understand how the initial reporting rules apply to their organisation and sector, determine which products are impacted, and collate all the data that they will need to measure to comply. Once the reporting baseline is in place, in advance of the financial obligations, the next phase includes reviewing the supply chain to look for opportunities to simplify, streamline and automate processes to minimise costs, tax, reporting and legal compliance burdens.