In today’s rapidly evolving global trade landscape, businesses face an ever-increasing set of challenges. A few obstacles that companies must overcome involve navigating complex regulations, managing customs requirements, and mitigating risks across their entire organization.
Enter SAP Global Trade Services (SAP GTS), a powerful, comprehensive solution designed to streamline and automate global trade processes, ensuring regulatory compliance and minimizing risks. But how can businesses fully unlock the potential of the SAP GTS solution to revolutionize their global trade management strategy and facilitate more efficient export management?
From understanding the intricacies of SAP GTS to leveraging free trade agreements, this article will guide you through the ins and outs of this cutting-edge software solution, emphasizing the importance of effective global trade services in processing trade and initiating more user-friendly workflows.
Whether you’re new to the world of SAP GTS or an experienced user looking to optimize your existing import and export processes, we’ve got you covered. So, let’s dive in and explore the power of SAP GTS for global trade management!
- SAP GTS provides businesses with the tools and expertise to streamline, automate, and comply with global trade regulations.
- Integrating SAP GTS into core logistics processes can improve efficiency and reduce inbound/outbound global trade operations costs.
- Leveraging free trade agreements helps identify cost savings opportunities while customizing solutions ensures successful implementation for maximum business benefits.
Understanding SAP Global Trade Services
SAP Global Trade Services (SAP GTS) is designed to address the complexities of global trade, helping businesses navigate the ever-changing landscape of international trade regulations, customs procedures, and import/export management. With various features and components, SAP GTS interacts with multiple government customs systems, ensuring seamless integration and efficient processing of global trade operations.
Understanding SAP Global Trade Services allows businesses to streamline and automate global trade processes, ensure regulatory compliance, and mitigate risks. And, SAP’s comprehensive service and support plans, specialized consulting services, custom application development, established best practices, and extensive industry and technical expertise for global trade management make it a one-stop shop for addressing all your foreign trade requirements.
With the SAP Global Trade Services solution, companies can rest assured that they can handle the ever-evolving global trade landscape and facilitate more effective customs regulations across the board.
In today’s global trade environment, regulatory compliance is more crucial than ever. Staying updated with changing regulations and efficiently managing trade documents can be a daunting task for businesses. This is where Compliance Management in SAP GTS comes to the rescue.
Integrations between Compliance Management and SAP ERP components empower businesses to:
- Stay updated on evolving export trade processes
- Effectively manage trade documents
- Adhere to international trade regulations, laws, and customs requirements
- Manage inbound and outbound activities across foreign trade zones
- Facilitate more effective Free Trade Agreement (FTA) management processes
SAP GTS’s Import Management component also streamlines procurement and inbound logistics processes, which include product classification, sanctioned party list screening, and permit and customs management.
Utilizing Compliance Management in SAP GTS enables businesses to maintain compliance with evolving regulations, manage trade documents effectively, handle importer security filing requirements, and ultimately enhance overall efficiency while reducing risks.
Navigating the complexities of customs clearance and import/export procedures can be time-consuming and resource-intensive for businesses, leading to more efficient export management.
SAP GTS Customs Management simplifies these processes by:
- Automating communication with relevant authorities
- Streamlining import/export procedures
- Calculating duties
- Managing customs valuation
The Customs Management component in SAP GTS assists with managing import and export customs procedures, duty calculation, tariff classification, and customs valuation. It can map complex customs procedures like foreign trade zones, customs warehouses, trade processing, and more.
By leveraging an open interface that is preconfigured to connect customs brokers directly with SAP GTS, companies can ensure seamless interaction and enhanced performance across the board.
In the unpredictable world of foreign trade, assessing and mitigating risks is essential for businesses to thrive. SAP GTS’s Risk Management component is designed to help businesses evaluate and reduce risks in global trade operations through trade preference management and risk analysis.
Implementing Risk Management in SAP GTS allows organizations to make informed decisions, minimize potential losses, and seize opportunities in the global market. By leveraging Risk Management, businesses can make informed decisions and ensure the smooth operation of their global trade activities.
Risk Management in SAP Global Trade Services enables businesses to:
- Evaluate and reduce risks associated with global trade activities
- Conduct trade preference management and risk analysis
- Stay ahead of potential threats
- Navigate the complexities of global trade with confidence
Electronic Compliance Reporting
As the digital landscape continues to evolve, so too does the need for efficient electronic compliance reporting. And, in today’s fast-paced global trade environment, staying compliant with ever-changing regulations is of utmost importance.
Utilizing Electronic Compliance Reporting in SAP GTS ensures businesses stay current with the latest foreign trade requirements and maintain a competitive edge in the global market.
SAP GTS’s Electronic Compliance Reporting allows companies to:
- Ensure adherence to international trade laws
- Streamline the compliance reporting process
- Generate electronic trade documents for foreign trade
- Submit compliance reports to relevant regulatory authorities
- Enhance analytics and reporting accuracy
- Reduce costs across global organizations
- Increase visibility into compliance processes
Integrating SAP GTS with Core Logistics Processes
Integrating SAP GTS with core logistics processes can significantly improve efficiency in both inbound and outbound logistics operations. Connecting SAP GTS with core logistics processes gives businesses comprehensive visibility and helps reduce logistics costs, thereby ensuring smooth and efficient global trade operations.
Core logistics processes encompass the fundamental activities involved in controlling the movement of goods and materials across a supply chain.
These core logistics processes usually include the following:
- Inventory management
- Order fulfillment
With SAP GTS integrated into these key processes, businesses can capitalize on opportunities for cost savings and enhanced performance in their global trade operations.
Inbound Logistics Processes
Inbound logistics processes involve receiving and storing raw materials and components from suppliers, which are critical aspects of any supply chain.
Utilizing SAP GTS in Inbound Logistics Processes enables businesses to streamline import procedures, customs clearance, and duty calculation, thus ensuring smooth and efficient supply chain operations.
Companies that self-file export and/or import filings can also realize cost savings of between $60-$100+ per shipment, further highlighting the potential benefits of integrating SAP GTS with Inbound Logistics Processes.
And, by optimizing inbound logistics processes, businesses can unlock significant cost savings and enhance overall efficiency.
Outbound Logistics Processes
Outbound logistics processes are equally crucial for businesses, as they involve validating orders, replenishing stock, conducting a final inspection, packing and loading, and shipping. Utilizing SAP GTS in Outbound Logistics Processes helps businesses streamline export procedures, compliance checks, and communication with customs authorities, thereby ensuring efficient and compliant global trade operations.
In today’s competitive global trade environment, optimizing outbound logistics processes is essential for businesses to stay ahead. With SAP GTS integrated into these processes, companies can ensure that their export procedures are both efficient and compliant, ultimately driving success in their global trade operations.
Leveraging Free Trade Agreements with SAP GTS
Free trade agreements (FTAs) have become increasingly important in today’s global trade landscape. By eliminating barriers to imports and exports, FTAs provide businesses with greater market access and improved economic growth potential. Leveraging SAP GTS with Free Trade Agreements allows businesses to identify potential cost-saving opportunities and manage documentation requirements efficiently.
Utilizing free trade agreements with SAP GTS offers numerous benefits, including cost savings, enhanced compliance, and simplified documentation requirements. By taking full advantage of these opportunities, businesses can not only reduce customs duties and remain competitive in the global market, but also drive growth and success in their international trade operations.
Identifying opportunities in SAP GTS allows businesses to capitalize on preferential trade agreements and minimize customs duties. By leveraging preferential trade agreements, companies can lower tariffs and other trade barriers, reducing costs and improving profits across the board.
Global organizations can also use free trade agreement functionality to reduce customs duties and remain competitive in the worldwide market. Recognizing and seizing these opportunities is essential for businesses to thrive in today’s dynamic global trade environment.
The powerful tools and features in SAP Global Trade Services make it easier than ever for businesses to identify cost-saving opportunities and capitalize on the benefits of preferential trade agreements.
In addition to identifying opportunities, managing documentation is crucial to leveraging free trade agreements with SAP GTS. Efficient documentation management guarantees conformity with the provisions of free trade agreements and facilitates seamless trade operations among countries.
By streamlining documentation management with SAP GTS, businesses can ensure that they remain compliant with the requirements of free trade agreements and capitalize on the opportunities they offer.
Documentation management for these trade agreements involves:
- Organizing, storing, and managing the documents and paperwork required for these agreements
- Trade agreements
- Certificates of origin
- Customs declarations
- Other related paperwork
Implementing SAP GTS in Your Business
Implementing SAP GTS in your business requires a thorough understanding of your unique business needs and the ability to adapt to changing regulations and compliance requirements. Assessing individual business requirements and tailoring SAP GTS solutions accordingly can lead to a successful implementation and unlock the full potential of this robust software solution.
SAP GTS can be integrated with various systems, both SAP HANA and non-SAP solutions, providing businesses with a flexible and adaptable solution for global trade management. By implementing SAP GTS in your business, you can facilitate the management of global trade operations in an effective, efficient, and compliant manner, ensuring success in the world of international trade.
Assessing Business Requirements
Understanding your individual business requirements is paramount for a successful SAP Global Trade Services implementation.
Careful assessment of business requirements ensures a tailored SAP GTS implementation that aligns with unique needs, resulting in efficient and compliant global trade operations. This crucial step lays the foundation for a successful SAP GTS configuration and helps guarantee the long-term success of your global trade operations.
The critical process assessment phase entails the following processes:
- Comprehending your business processes
- Understanding your data requirements
- Identifying user roles and responsibilities
- Familiarizing yourself with country-specific regulatory requirements
- Understanding trade compliance requirements
Customizing SAP GTS Solutions
Customizing SAP GTS solutions to meet your specific business operations and requirements is essential for a successful implementation. SAP Global Trade Services provides various customization options, such as customizing the user interface, data model, and business logic, allowing you to tailor the software to your unique needs and preferences.
Customizing your SAP Global Trade Services solution involves understanding your business requirements, designing the solution, and implementing the solution.
By following recommended practices for successful customization, such as understanding your business requirements, leveraging existing SAP GTS functionality, and thoroughly testing the solution, you can ensure a smooth and successful implementation of SAP Global Trade Services in your business.
Main Steps in the SAP GTS Implementation Process
From planning to post-implementation support, a thorough and well-executed SAP GTS implementation process is essential for achieving success in the world of global trade. Each of these steps plays a vital role in ensuring a successful implementation and unlocking the full potential of SAP GTS in your business.
Careful adherence to each step in the implementation process ensures that the SAP GTS configuration aligns with unique business needs, maximizing the benefits of this powerful enterprise software solution.
The SAP GTS implementation process involves several key steps, including:
- Ongoing support
Best Practices for SAP GTS Success
Achieving success with SAP Global Trade Services requires businesses to stay updated with changing regulations, leverage expert support, and continuously optimize global trade processes. Adhering to best practices for SAP GTS success allows businesses to maximize the benefits of this powerful software solution and maintain a competitive edge in the global market.
Some of the best practices for SAP GTS success include:
- Establishing concrete objectives
- Engaging key stakeholders
- Providing effective training
- Ensuring regular data updating and maintenance
- Monitoring and analyzing performance
- Maintaining continuity with SAP GTS updates
How Can We Help?
Whether you need help navigating complex customs procedures in your company’s foreign trade zones, additional support processing trade under customs control requirements, or just an extra hand getting started with trade optimization initiatives in SAP Global Trade Services, Surety Systems is here to help.
Our senior-level, US-based SAP consultant team has the functional skills, technical know-how, and real-world experience to lead you to success, regardless of where your project needs lie.
From first-time implementations to custom integrations, systems upgrades, and everything in between, our SAP consultants have you covered, no matter what.
Getting Started with Our Team
Interested in learning how to manage and control foreign trade more effectively across your organization or where our SAP consulting services can fit in your organization?
Contact us today to get started with our team!
Frequently Asked Questions
What is SAP GTS?
SAP Global Trade Services (GTS) is a powerful tool that helps companies automate international trade processes, manage partners, and ensure compliance with the latest legal regulations. It ensures that businesses remain up-to-date with the constantly changing laws related to global trade.
Is SAP GTS part of S/4HANA?
Yes, SAP GTS is part of S/4HANA as it connects both SAP ECC and SAP S/4HANA without requiring an upgrade. It can run advanced analytics with high-speed transactions in a single system and connect data between the SAP Global Trade Services application and the SAP S/4HANA database.
What is the difference between SAP GTM and GTS?
SAP Global Trade Management (GTM) is tailored for international trade, while SAP Global Trade Services (GTS) has a broader scope, including managing sales orders, shipment tracking, and logistics planning.
Is SAP GTS good for international trade companies?
SAP GTS is a robust tool that streamlines import and export processes, providing good control over the processes while reducing time and costs significantly – making it an excellent choice for global trade services. It offers automated document management, compliance checks, and risk management features to provide a more comprehensive view of the supply chain and allow for better visibility and control.
How does the GTS application work in SAP?
SAP Global Trade Services (GTS) is a customs-certified solution that helps companies manage global trade operations and ensure regulatory compliance. It automates and centralizes import and export processes in SAP ERP, while allowing for electronic communication with customs authorities to ensure proper handling of critical customs procedures.