International/Foreign trade for gamut of products is achieved through supply chains involving series of complex processes spread across continents. Since it involves selling/buying products to/from two different businesses/countries, they are supposed to ensure trade compliance across various supply chain processes along with accelerating the cross-border supply chain.
Capacity building through requisite capabilities
While ensuring complex global trade compliance, businesses need to beat the competition. To achieve this, businesses have to consistently meet their market’s demand/supply target through requisite capabilities for Import/Export Management, Trade Preference, Special Customs Procedure and SPL/Restricted Party Screening, etc. Also, businesses involved in global trade ought to accurately classify their products, manage embargo and intrastat declaration.
SAP GTS or SAP S/4HANA (1909) – International Trade?
Depending on the needs of any global business for international trade, SAP S/4HANA (ver. 1909) or SAP Global Trade Services can be chosen to establish – import/export footprint across different countries, preference management, legal control, letter of credit, and mitigate risks due to business diversification.
If your business is involved in Foreign Trade, and you wish to know how these two software can help your business and how different are they? Download Krypt’s white paper entitled: SAP GTS Vs. SAP S/4HANA – International Trade – What’s the difference?
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