SAP GRC GTS: Your Key to Efficient and Compliant Global Trade

In the fast-paced, increasingly interconnected world of global trade, staying on top of complex compliance regulations is crucial. Mismanagement of international trade operations can lead to costly fines and delays and damage your brand’s reputation. SAP GRC GTS (Governance, Risk, and Compliance – Global Trade Services) offers a powerful solution to streamline these processes and mitigate risks.

What is SAP GRC GTS?

SAP GRC GTS is a comprehensive software suite designed to help companies manage the complexities of international trade. It integrates with your core SAP ERP (Enterprise Resource Planning) systems to provide a centralized platform for:

• Compliance Management: Automatically screen transactions, business partners, and documents against denied party lists, sanction lists, and other legal restrictions. Stay up-to-date with ever-changing trade regulations across different countries.
• Customs Management: Electronically file customs declarations, calculate duties and taxes, and manage communications with customs authorities, reducing delays and improving clearance times.
• Risk Management: Proactively identify potential trade risks, analyze data to monitor compliance gaps, and create audit trails for transparency.
• Trade Preference Management: Determine eligibility for preferential trade agreements (like free trade zones) to optimize duty and tax payments.

Key Benefits of SAP GRC GTS

1. Reduce Compliance Risks: GTS automates critical compliance checks, minimizing the potential for human error, fines, and penalties.
2. Streamline Trade Operations: GTS helps accelerate customs clearance, reduces delays associated with manual processes, and optimizes your supply chain flow.
3. Lower Costs: GTS can help identify trade optimization opportunities and reduce duties and taxes through effective preference management.
4. Improve Visibility: Get a comprehensive view of your global trade processes with detailed reporting and analytics, enabling better decision-making.
5. Enhanced Collaboration: GTS facilitates information sharing and coordination between departments involved in global trade, such as sales, logistics, and finance.

Who Needs SAP GRC GTS?

SAP GRC GTS is valuable for businesses of all sizes that engage in international trade activities:

• Importers and Exporters: GTS helps manage trade compliance risks and optimize customs processes.
• Multinational Companies: GTS ensures consistent trade practices across different countries and regions, providing centralized control over trade regulations.
• Manufacturers with Global Supply Chains: Optimize production schedules and inventory management by streamlining customs processes and reducing delays.

Getting Started with SAP GRC GTS

Implementing SAP GRC GTS requires careful planning and a phased approach. Here’s a basic outline:

1. Assess Your Needs: Identify your specific trade pain points, the countries you operate in, and existing regulatory requirements.
2. Choose the Right Deployment: Consider on-premise, cloud-based, or hybrid deployment models based on your company’s needs and infrastructure.
3. Configure the System: Work with SAP consultants to customize the GTS solution for your business processes and integrate it with your existing ERP systems.
4. Data Management: Ensure the maintenance of master data (product classifications, business partner information, etc.) for accurate operations.
5. Training and Rollout: Provide comprehensive training for your team to promote user adoption and success.

Conclusion

SAP GRC GTS is a powerful tool for companies seeking control over their international trade operations. GTS contributes to a more efficient and profitable global supply chain by automating compliance, streamlining processes, and reducing risks.