HONG KONG, Jan. 22, 2021 /PRNewswire/ -- As COVID-19 continues to disrupt the trade industry, SAP Hong Kong and Deloitte are working to help enterprises navigate a more complex and turbulent trade environment with SAP Global Trade Services (SAP GTS). As the market share leader in the global trade compliance systems sector, SAP has various solutions including GTS that have been successfully deployed in nearly 3,000 enterprises in 25 industries across more than 170 countries. A centralized global trade management platform that automates and streamlines trade processes, SAP GTS enables enterprises to better control costs, manage free-trade agreements and customs procedures, and reduce non-compliance risk. Deployed on-premises or in the cloud, it serves as a repository for all compliance master data and content, allowing businesses to integrate all of their trade services. Working closely with SAP, Deloitte offers one-stop end-to-end global trade services, including SAP GTS-enabled Smart GTS serving as a "direct train" to global trade and help enterprises achieve compliance, cost reduction, intelligence and synergy for global trade management in the increasingly complex international trade environment, and thus implement their global development strategies. Its integrated global practice offers a mix of multidisciplinary trade specialists with extensive experience in compliance, customs, preferential trade agreements, technology implementation know-how and unmatched experience across industries worldwide. Fabian Padilla Crisol, Managing Director, SAP Hong Kong, said, "Business leaders in high-tech, life sciences, luxury goods, industrial machinery and other sectors understand the importance of optimizing cross-border supply chains. With the support of SAP GTS and Deloitte, these businesses are now well positioned to navigate an increasingly volatile and complex global trade environment in 2021 and beyond." Andy Zhou, Deloitte Consulting China SAP Offering Leader, said, "To prosper in the dynamic global trade environment, enterprises are required to keep up with the cross-border trade policies and regulations, meet new consumer demand and the development needs of complex supply chains. The combination of Deloitte's services and SAP GTS technology allows deep integration and seamless connection to establish a stable, efficient and compliant global trade management model and solution." Key features of SAP GTS include:
- Customs management: The system enables the seamless flow of corporate supply chain data to external suppliers and regulators, with customs declarations and documentation being automatically generated, shared and managed. This process automation decreases errors and accelerates the customs clearance process for faster and more efficient business operations.
- Compliance management: SAP GTS enables enterprises to automatically run compliance checks, which includes managing licenses and export controls and scanning up-to-date blacklisted and embargoed countries. This reduces compliance risks and avoids supply chain disruption for business continuity.
- Trade preference management: The system helps enterprises determine the rules of origin and conduct free-trade agreement planning and management so as to take advantage of preferential tariff treatments and lower business cost.
- Global trade analytics: SAP GTS integrates directly with SAP S/4HANA®, SAP ERP and other business software systems. This supports sales, procurement, and logistics processes that are essential to efficient export and import management.
By PR Newswire