Open Menu. For example: The international movement of goods was logged Intrastat Export permit requirements were monitored Legal Control Trade agreements were observed for import duties Preference Management And promises to pay from the importer were given to the executing companies Letter of Credit In , all import and export notifications, which had up until that point been drawn up on paper, switched over to electronic communication, and were consolidated together with existing foreign trade functionalities in the SAP Global Trade Services application SAP GTS.
SAP is continuing to develop customs and foreign trade functionalities in parallel. Posted by: Neil How. Find out more. Find out how you can seamlessly integrate this product with your existing IT landscape. Jump-start your implementation and drive ROI by collaborating with industry experts, consultants, and support engineers throughout your journey.
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I accept all cookies View and change cookie preferences. Privacy Policy Powered by:. At a Glance. Run worldwide compliance from a single platform that integrates trade services across your entire enterprise. Request a demo. Sign up now. Improve global trade management and help ensure regulatory compliance.
On-premise or cloud deployment Comprehensive import and export management Management of free-trade agreements and customs procedures Self-filing and broker communication. Key Benefits. Improve efficiency Boost productivity by automating time-consuming, manual tasks for global trade management and compliance.
Reduce risk Validate every order against the latest compliance regulations to reduce the risk of fines and penalties. Accelerate the supply chain Enable faster supply chain processes with real-time compliance checks.
See how our customers are succeeding with SAP. Streamlining U. Read the customer story. Key Capabilities. Show more. SAP GTS Letter of Credit — It provides support for calculating and handling financial commitments such as letters of credit and bank guarantees, thus enabling companies to handle multiple letter of credit processes in inbound and outbound flows.
Goods import and export processes are monitored, with import and export control functionalities combined with boycott and embargo lists. Benefits and the Value of the Solution. Due to new laws and business requirements, most customs systems are a growing and evolving solution.
The integration, which is the biggest part of the work in a customs solution implementation, remains unaffected by the upgrades that need to be done to GTS. In contrast to most other custom solutions, SAP GTS offers a global solution which covers the global trade requirements of most countries, and is not a one country specific solution. This means that once it has been setup to work with the ERP system, it can easily be rolled out with minimal effort, in order to cope with all other affiliates global trade issues.
Furthermore, the aim of companies is to address local customs issues centrally in order to build a pool of customs competencies. Technical Integration. All modules of SAP GTS are fully integrated with other SAP relevant modules and can gather and process data so that logistics, customs, IT and compliance team have all the data and management tool they need. Furthermore, the companies specific requirements with regards to the global trade need to be considered in the building of the GTS solution.
Global trade solutions are essential for any modern business seeking to combine trade law compliance with the smooth enactment of international trade transactions. SAP GTS is an all in one solution that will enable companies to single handedly address all global trade related issues and high efficiency of all affiliates centrally.
Skip to Content. Former Member. November 13, 5 minute read. Challenges of Global Trade Companies which trade at a global level need to be aware of — and comply with — legal regulations, and must adapt to custom changes, communicating electronically with customers, suppliers, logistics partners and custom authorities.
Customs Management — A proper handling and monitoring of import and export processes is an essential part of most companies daily business. Inefficiency and errors in that area generate unknown and unmonitored costs in many companies which can very simply addressed. Processing under customs control — Companies can avoid paying import duties on goods that are to enter another customs territory for a given time by taking advantage of tax suspension using inward or outward processing or putting the goods into a bonded warehouse.
Profitability Management — Take advantage of the commercial benefits given by customs decreasing or suspending import taxes and with lower the market price of the product.
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