Product Information
GRC Tuesdays: What really is SAP Governance, Risk, and Compliance (GRC)? – Focus on the International Trade Management pillar
This 5th and final blog of the series GRC Tuesdays: What really is SAP Governance, Risk, and Compliance (GRC)?, will focus on the SAP solutions for International Trade Management.
In a traditional approach, trade compliance professionals are seen as a cost of business and not as a key voice in planning and strategic decisions.
This is often due to the fact that many organizations still rely primarily on manual processes, spreadsheets, and bolt-on technology. As a result, compliance checks such as partner screening, license determination, and free trade qualification are not done in real time and in process. This also means that audits are somewhat difficult to perform.
Elevating global trade in the organization
The intent of the SAP solutions in this area is to automate global trade processes within the organization so that they can scale across the business and help provide the agility and confidence necessary to conduct business in a global market.
SAP Global Trade Services – Centralize global trade management
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Features and functionalities: * Restricted party screening to ensure proper screening of restricted or denied parties, supplemented with inline process blocking and release * Export management to manage export compliance, classification, outbound trade finance, and customs services with direct filing * Import management to effectively manage import compliance this time, classification, inbound trade finance, and customs services with direct filling * Trade preference to leverage any free trade agreement (FTA) with preference determination and vendor or customer declaration-handling * Special customs procedures to leverage foreign-trade zones, processing trade in China, bonded warehousing, inward and outward processing relief (IPR/OPR), Intrastat, Excise Movement and Control System (EMCS), and others |
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SAP S/4HANA for international trade – Manage basic cross-border requirements
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Features and functionalities: * Embargo to block transactions related to embargoed countries * Legal control to create, manage, and assign export licenses * SAP Global Trade Services and SAP Watch List integration to enable broader global trade management requirements in an SAP S/4HANA software environment * Classification of materials to support export control and Intrastat * Intrastat to support European requirements around order-to-cash and procure-to-pay processes |
SAP Watch List Screening – Simplify business partner screening
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Features and functionalities: * Restricted party screening by using a SaaS model that simplifies screening, provides instant access to up-to-date watch lists, streamlines uploads – and accelerates time to value * Integration and extensibility with pre-built integration with SAP S/4HANA and published APIs to extend to other systems |
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I hope this helps in introducing the international trade management offering from SAP’s Governance, Risk, and Compliance portfolio.
As a reminder, you can find all the other blogs in this series listed below:
- GRC Tuesdays – What really is SAP Governance, Risk, and Compliance (GRC)?
- GRC Tuesdays – What really is SAP Governance, Risk, and Compliance (GRC)? – Focus on the Enterprise Risk and Compliance pillar (released on 20/04/2021)
- GRC Tuesdays – What really is SAP Governance, Risk, and Compliance (GRC)? – Focus on the Identity and Access Governance pillar (released on 04/05/2021)
- GRC Tuesdays – What really is SAP Governance, Risk, and Compliance (GRC)? – Focus on the Cybersecurity, Data Protection, and Privacy pillar (released on 18/05/2021)
I look forward to reading your thoughts and comments either on this blog or on Twitter @TFrenehard