GTS in SAP is the abbreviation for Global Trade Services. GTS is an integrated business solution to help a company gain better management of international trade processes.
The flexible SAP GTS platform automates compliance with international trade regulations, saves time and money by streamlining customs and foreign trade processes, and offers insights into the supply chain.
SAP GTS offers a fast-tracked supply chain, lower risk, greater efficiency, consistent ERP integration, import management, and centralized license administration. It streamlines compliance, reduces risk, and improves global commerce management.
This blog content describes SAP GTS and its important features, and at the end, it gives the benefits of SAP GTS. Let’s begin.
What is GTS in SAP?
SAP GTS is a cutting-edge and adaptable platform for managing customs and international trade procedures. It satisfies all business requirements for import, export, preference management, and customs processing and can be effortlessly integrated into non-SAP ERP systems, SAP ERP, and SAP S/4HANA.
To mitigate issues that might impede items from timely clearance through customs, GTS expedites the time and cost involved in adhering to global trade standards and provides supply chain visibility during the transit process.
It also helps businesses to centralize and automate compliance with international trade rules.
Essential Features of SAP GTS
A quick examination of application data: Applications data analysis is accelerated by the database’s usage of in-memory computing technologies with features including data modeling, data and lifecycle management, and security.
Real-time compliance checks: Activate real-time compliance checks and controls. Integration with SAP Business Suite apps’ order and shipment processes enables you to maintain the fastest possible flow of compliance-related data and products.
Screening of the Sanctioned Party List (SPL): Encourage the screening of approved party lists in the areas of distribution, finance, sales, and human resources. The program prevents transactions that don’t pass a check so that they may be reviewed immediately. Work lists allow quick handling of blocked documents, and intuitive procedures allow flagging doubtful entries.
Import management: Integrate procurement with incoming logistics to facilitate permit and customs administration, product categorization, and screening against sanctioned party lists. Additionally, importer security filings and U.S. connectivity are possible.
Recognition of specific customs processes: Follow customs regulations about foreign trade zones, trade processing in China, bonded warehousing, settlement for customs-controlled inbound processing, Intrastat, and the Excise Movement and Control System (EMCS).
Export management: Connect with various government customs systems and critical logistical operations to support effective and compliant export management. Moreover, you may assist with export license use and determination, restricted screening, product categorization, and screening against sanctioned party lists.
Significant benefits of SAP GTS
- Fast-tracked supply chain: Enable real-time compliance checks to facilitate quicker supply chain procedures.
- Lowered risk: Verify each order against the most recent compliance standards to lower the possibility of fines and penalties.
- Greater efficiency: Increase global commerce management and compliance productivity by automating complicated, manual operations.
- Consistent integration with the ERP: Most customs systems develop and change because of new regulations and corporate needs. SAP GTS is the sole provider of a reliable ERP integration point. Neither the GTS-ERP interface nor the ERP system need to be modified in order to upgrade to GTS solutions.
- Management of imports: Like export management, it integrates with fundamental logistical procedures to facilitate product categorization, sanction list control, and customs administration.
- Centralized Administration of Licenses: Centralized license administration via an SAP GTS system ensures flawless corporate operation. The system also creates automatic reports, protects against human mistakes and misuse, and improves workflow efficiency.
Final Thoughts!
SAP GTS streamlines international trade regulations, saves time and money, and offers supply chain insights, enhancing efficiency and risk reduction in global commerce management.
SAP GTS offers quick application data analysis using SAP HANA, real-time compliance checks, sanctioned party list screening, import management, customs processes recognition, and export management.
We hope this article helps you understand SAP GTS. For more insightful content, visit us at HiTechNectar.
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