How SAP GTS Supports Your Global Trade Compliance Department as You Expand

How SAP GTS Supports Your Global Trade Compliance Department as You Expand

global trade compliance department

Successful expansion of trade markets requires more than offering your product lines to new and emerging markets. Your business has to adapt to ever-changing global trade forecasts and compliance requirements. For companies with wide-ranging operations, that means using the right software. Your solution must keep pace with overall trade trends while still delivering functionalities that meet your organization’s specific needs. 

SAP GTS gives you adaptive, flexible, and scalable solutions that will expand as you grow without bogging down under increased amounts of data. The array of customizations available through the advantages of configurable functionalities deepens and expands capability for your compliance department. The advanced document management and reporting capabilities of SAP GTS work together to give you a sleek and sophisticated way to manage the complexities of compliance.

Global Trade Compliance Departments Manage Increasingly Complex Levels of Risk

The levels of risk you encounter will grow more complex as trade operations grow, leading to increased demands on your staff to keep operations compliant. The function-based architecture of SAP GTS scales in step with your trade operations. These functionalities can be stand-alone or integrated into existing system processes, making risk management as robust as needed, when needed. This efficient way of operating increases your system’s ROI. 

In-depth levels of process automations present in SAP GTS decrease the strain on your compliance staff. You can introduce as many or as few functions as you wish, adding or subtracting them when needed. You get continuous global trade services  during trade market expansions, even during implementation of new functions. You can implement the whole system, by sub-module functionality (Compliance Management, Customs Management, Risk Management), or by individual functionality. Functionalities such as preference processing, letter of credit processing, and restitution are some examples of how the automations available in the SAP GTS suite provides an overall reduction of error-driven risk factors.

Elastic Document Management Reduces the Stress of Growth

Maintaining highly-accurate records is a challenge for every business. Without an innovative document management solution in place, indexing can slow to a crawl, affecting your staff’s productivity and overall risk responsiveness. The customs management functionalities in SAP GTS include scalable documentation and audit management, logically integrated into all of your business processes. The end result is a rock-solid compliance regimen—and a competitive advantage over companies that are less prepared to deal with risk.

This presents clear advantages to your business operations in the form of maintaining concise adherence to documentation requirements, regardless of industry. 

You will also realize these benefits when monitoring for potential violations. These functionalities can be adjusted as growth into other markets continues. Your organization will be able to resolve any uncovered issues in customs management, such as a manifest that’s missing a license number. Since SAP GTS can act as a repository for all of these documents, you can be assured of information retrieval. Missing or incorrect data points can be updated quickly and accurately thanks to metadata and trails tracked within the document management system. This helps reduce trade risks and increases the accuracy of trade partner evaluations.

Denied Party Screening Expands as Trading Partners Multiply

Leveraging the compliance and customs management functionalities in SAP GTS gives you an edge in trade partner screening. These features may be used to align screening processes with operations as trading partners, vendors, and markets shift and change. Taking full advantage of the piece-by-piece implementation strategy afforded to you by the scalable nature of SAP GTS ensures your automated denied party list (aka: sanction party list-SPL) and embargo list changes and updates continue uninterrupted as you grow. 

These customizable automations can apply to sanctioned party lists (SPL) functionality. l. Configuring the tolerances and screening parameters gives you the advantage to maximizing your screening  process. Your optimized screening process can better examine your business partner data to deliver better net results. Ultimately removing unnecessary false hits, which frees your team to focus on more imperative compliance issues. 

Customs Management lessens the impact of import/export procedural changes and expansions through targeted automations within your logistics process flows. This gives you compliance functionalities that are fully scalable as import/export legal controls while giving you the maneuverability you need to shift focus and control sets based on trade market demands. The advanced levels of customizations and scalable functionalities here will require an experienced hand to ensure the maximum ROI on your SAP GTS solution.

Expert Guidance Ensures Successful Scaling

Scaling your GTS solution to current and trending business operations requires an experienced hand to assess and guide your implementation. Gaining the edge in your industry means having a partner that will recognize the right solution for your needs. They should understand all aspects of your business processes so that you do not incur the costs associated with delayed or misaligned solutions.

 

 

Aurum Terra, Inc. takes the time to learn your business inside and out to ensure that your solution is the industry’s best. If you need to implement one, or to upgrade or streamline your current system, contact us today. Give us a call at (949) 420-3627. GET STARTED