For efficient and compliant trade management automation, trade and customs content is essential. Content bonds both systems and people with the trade information needed to conduct international commerce and improve compliance.
Customs and global trade content provides advanced declaration capabilities and access to sanctioned party screening, cargo security and import/export trade data.
Some global trade management solutions come with trade content; SAP GTS does not. This is not an issue since many companies provide this content at a very fair price. Unfortunately, there are a lot of misconceptions about adding trade data to SAP GTS. Let’s clear the air and get a better understanding of using trade content with GTS.
Misconceptions of Global Trade Content
- Expensive
- Hassle
- Limited options
- Confusing process
- Managing additional vendor relationships
Realities of Global Trade Content
The previous misconceptions really are just that – misconceptions.
In reality, the cost of content is just a tiny fraction of the whole trade management system. Whether you pay for it in a GTM bundle or pay for it separately through a third party, it is a small cost. And when you understand the value it brings, like enabling automated denied party list screening, the cost is negligible.
For all of our clients, we streamline the process of adding content to your GTS system. We do the legwork and ensure you are delivered the correct content and that it is speaking to your GTS system. How do we do this?
Krypt maintains partnerships and reseller agreements with various partners including several content providers. These partnerships not only grant us priority access to the latest releases, most current industry information and strong industry ties, but we also can pass along these benefits to our clients.
Additionally, Krypt streamlines your supply chain and global trade projects by enabling you to have a single point of contact and a single invoice rather than making you manage multiple vendors, a variety of payment methods and deadlines, and various lines of communication.
We do not add on additional fees. We will leverage our partnerships to get you the best prices possible.
All of our content provider partners maintain an up-to-date system. As soon as the government updates its lists, you will have access to those changes. This means you can classify products and screen business parties with the most current data, therefore maintaining compliance and protecting your business.
Customs and trade data reduces the risk of fines, penalties or imprisonment due to incorrect data being used to file customs documents so don’t get discouraged!
