23 Jan Digitalization of foreign trade and compliance with SAP GTS
Embargos, restrictions, special tariffs and many other regulations affects foreign trade to day. From trade of weapons to financial transactions implications increases. Compliance is of highest importance and violating the regulations and laws not only means risk of fines and other penalties. Non-compliance also threatens the business directly.
Compliance is there for vital for many organisations. Examples of products are beside weapons, spare parts for aircrafts and computers, materials for dual-use, educations, software products, documentations and services.
Compliance is a matter of special importance for industries involved in defence supply, but almost no industry should ignore the issue compliance.
Where trade a cross boarders is a clear reason for compliance, transport of materials and products which are not traded easily can be forgotten. But the need of compliance to regulations and laws are the same.
Many systems in the market are able to monitor trade and transports, but the quantity of master data needed makes it relevant to consider systems integrated to the ERP of the organization.
SAP offers GTS as a solution for handling compliance. Although complex this is one of the complete solutions which utilizes master data already registered in the ERP and able to handle both compliance, customs management and risk.
Ebicon can assist you in making your organization compliant and digitizing your processes. Whether it’s implementing a system solution like GTS or increasing the performance of your present system we can help you in defining and implementing to be compliant and efficient.