Authored by: Shilpa Manvikar & Vijendra Kargudri In this Part-1 of a two-part blog entitled – Intrastat Reporting simplified with SAP GTS, we will dive deep into knowing more about Intrastat Reporting and how Krypt can help businesses easily file intrastat reports and meet the requisite compliance. What is Intrastat Reporting? Intrastat reporting is one of … Continue reading “Part-1: Intrastat Reporting simplified with SAP GTS”
Sanctions and Trade compliance awareness has increased a great deal in the last decade, as enforcement and changing global conditions have led to increased public awareness. It is not as common anymore to find organisations with international exposure, who don’t have some form of Sanctioned Party Screening system or process in place. Unfortunately, that may … Continue reading “The Importance of a Healthy SPL System”
Join Us! Krypt is thrilled to be exhibiting at ICPA Conference again in 2019. This annual conference will be hosted at Disney Coronado Resort in Orlando, Florida March 24-27th. The theme this year is “Compliance Strikes Back”. So be prepared to learn about current compliance issues and other relevant global trade topics. Hear from industry … Continue reading “Krypt Exhibiting at ICPA 2019 | Orlando, FL | March 24-27”
Krypt, Inc. is pleased to announce its consulting services to empower and foster greater participation of SMBs in the Global Value Chains (GVC) Investment in Supply Chain management tools provide organizations with a competitive edge, allowing them to streamline processes and cut costs, but these investment opportunities are only accessible to those who can afford … Continue reading “Krypt Announces New Business Consulting Services – Official Press Release”
Regardless of the size or location of your business, or what products you sell, if you are exporting your products, then the they should be correctly classified. But what is even more critical is the necessity to screen all the parties for each of your transaction that you export to. The list of sanctioned/denied/restricted party … Continue reading “SPL Screening best practices: never too little or too late”
Amongst all the improvements in SAP GTS 11.0, Sanction Party List (SPL) might be the most affected existing functionality within SAP GTS. SAP HANA’s in-memory functionality means that key processes are experiencing improved performance – SPL search algorithm being a prime example. Below is an example of Sanction Party List Screening in SAP GTS 10 … Continue reading “Setting up SPL Screening with SAP HANA Search”
A recent OFAC press release, and guidance document, offers some good advice, but also risks misleading readers. A careful read of the case and guidance will reveal a hidden lesson to be learned. At first glance, the guidance simply reminds companies to ensure their Sanctioned Party Lists (SPL) are updated and reviewed, and most readers … Continue reading “The hidden lesson in OFAC guidance on “false hit lists””
Sanctioned Party List (SPL) Screening is an extremely powerful functionality of SAP Global Trade Services (GTS). Before addressing best practices, below is a quick summary of the GTS SPL Engine capabilities: GTS deploys a screening algorithm and a TREX fuzzy logic search engine to evaluate partner addresses comparisons to denied parties GTS allows users to screen business … Continue reading “SPL Screening in GTS Best Practices”
