SAP GTS (Global Trade Services)

Posted on by uplatzblog

SAP GTS, or SAP Global Trade Services, is a software solution developed by SAP, a German multinational software corporation. SAP GTS is designed to help companies manage and streamline their global trade operations. It provides a set of tools and capabilities to ensure compliance with international trade regulations and to facilitate efficient and secure cross-border trade.

 

SAP GTS

 

Key features and functions of SAP GTS include:

  1. Trade Compliance: SAP GTS helps businesses adhere to international trade regulations and trade laws by providing tools for embargo and sanctions screening, export and import compliance checks, and managing restricted party lists.
  2. Customs Management: It assists with customs clearance processes by automating import and export documentation, managing duty and tax calculations, and supporting electronic customs filing.
  3. Risk Management: SAP GTS offers risk assessment and mitigation tools to identify and manage potential risks associated with international trade transactions, including financial risks, legal risks, and operational risks.
  4. Trade Preference Management: Companies can use SAP GTS to determine eligibility for preferential trade agreements and optimize their sourcing and distribution to reduce duty and tax costs.
  5. Trade Documentation: It automates the generation of trade-related documents, such as invoices, bills of lading, and certificates of origin, to facilitate international trade transactions.
  6. Global Trade Analytics: SAP GTS provides reporting and analytics capabilities to help businesses gain insights into their trade operations, track compliance, and make informed decisions.
  7. Integration: The solution can be integrated with other SAP systems, such as SAP ERP, as well as external systems and government authorities for smoother end-to-end trade processes.

SAP GTS is particularly valuable for companies engaged in global trade and dealing with complex international supply chains. It helps them manage regulatory compliance, reduce risks, and optimize their global trade operations. This software is widely used across industries, including manufacturing, retail, logistics, and more, to streamline and enhance their international trade activities.