How much will EUDR cost me - Annual recurring costs
This post provides a general estimate of the costs associated with EUDR compliance, based on available data and our experience working directly with the EU and multinational companies. At EUDR Services, we are committed to offering solutions that generally align with or stay below the costs outlined in our ‘How Much Will EUDR Cost Me’ posts.
Time & Effort Required (Annual Estimate)
1. Due Diligence System Maintenance (20-100 hours per year)
Regularly collecting and updating supplier data.
Reviewing geolocation data for sourcing areas.
Ensuring suppliers continue to meet EUDR requirements.
2. Risk Assessments & Documentation (10-50 hours per year)
Conducting periodic risk assessments.
Documenting compliance statements for authorities and customers.
3. Internal Audits & Compliance Checks (20-80 hours per year)
Reviewing procedures and verifying compliance.
Conducting internal audits or self-assessments.
4. Training & Regulatory Updates (10-30 hours per year)
Staying informed about EUDR updates and best practices.
Training new staff or refreshing compliance knowledge.
5. Supplier Coordination & Verification (30-150 hours per year)
Communicating with suppliers to ensure they maintain compliance.
Addressing potential risks or gaps in documentation.
6. External Audits & Reporting (if required by authorities) (10-40 hours per year)
Preparing reports and responding to potential regulatory inquiries.
Total Estimated Time: 100-450 hours per year (depending on company size & supply chain complexity).
Financial Cost Estimate (Annual)
1. Compliance Management Tools & Technology (€1,000 - €10,000 per year)
Digital tools for tracking supply chain data and geolocation.
Subscription to compliance software (e.g., blockchain tracking, satellite verification).
2. Legal & Consulting Fees (€1,500 - €10,000 per year)
Occasional legal reviews, compliance audits, or external expert consultations.
3. Staff Training & Industry Memberships (€500 - €5,000 per year)
Ongoing training sessions or industry workshops.
Membership fees for sustainability or trade associations.
4. External Audits (if applicable) (€2,000 - €15,000 per year)
If required, third-party verification services for compliance checks.
5. Supplier Compliance Assistance (€2,000 - €10,000 per year)
Supporting suppliers in gathering required data.
Conducting independent assessments of sourcing practices.
Total Estimated Cost: €5,000 - €50,000 per year
(SMEs on the lower end; larger, more complex businesses on the higher end.)
Key Factors Affecting Costs & Effort
Size & Complexity of Supply Chain → More suppliers = more due diligence work.
In-House vs. Outsourced Compliance → Using consultants increases costs but reduces internal effort.
Industry Type → Some industries (e.g., wood, palm oil) face stricter requirements.
Technology Use → Investing in automation reduces manual work over time.
EUDR Services
We can help with all the above and more. Should you have any questions, concerns or would like to discuss EUDR in general, do not hesitate to get in touch with us. Email us at: questions@eudrservices.com