If you are curious to know what SAP GTS is, you have landed in the right place. You will have insightful content about SAP GTS in this blog. Essentially, SAP GTS is software that helps to make efficient and smooth global trades. This blog uncovers what SAP GTS is, its features, and its components of SAP GTS in greater detail. You will also learn the implementation of SAP GTS and FAQs in this blog. Sure! Once you complete reading the blog, you will undoubtedly get exposure to what is SAP GTS.
We all know that facing challenges is inevitable in any business - no matter how good the business is. The level of challenge may be small or big. But there will be a challenge, undeniably. No individual or company is an exception to this real-time scenario.
On this note, when it comes to global trades such as import and export, they face more complex challenges than any other business. For example, they face challenges such as frequent changes in trade regulations, foreign policies, legal compliances, delays in customs clearances, and more.
So, these companies need well-designed strategic planning and sophisticated tools to adapt to the above challenges dynamically. If only they reduce the complexity of their business, they can avoid revenue and reputation loss.
In this regard, SAP GTS is one of the SAP modules widely used by global trade businesses to minimize the complexity of their processes.
Now the question is, what is SAP GTS? How does it work?
Know that SAP GTS is a robust tool that streamlines import and export processes in global trade services. Not only that, you will get good control over the processes. SAP GTS helps to reduce the time and costs of trade services significantly. As a result, it supports boosting the productivity of global trade services to higher levels.
Want to learn more about SAP GTS?
This blog will talk more about what SAP GTS is, its various components and features, its implementation, and more in greater detail.
Let’s read on!
|What is SAP GTS - Table of Contents|
At a glance, SAP Global Trade Services (GTS) is one of the SAP Modules that simplify global trade companies' import and export processes. It provides excellent visibility across the supply chain, which helps track the movement of goods more tightly.
The main thing about SAP GTS is that it manages worldwide compliance requirements in one platform. It adapts instantly to the frequent changes happening in global trade services.
Know that we can integrate SAP GTS with SAP ERP smoothly. This integration provides more advanced solutions to complex problems in import and export processes.
Moreover, SAP GTS is a sophisticated trade management tool that governs the global trade businesses' complete import and export trade cycle. As a result, it provides the necessary speed, flexibility, and control to the import and export processes.
With SAP GTS, companies can automate global trade services to optimize their operations intelligently. Besides, companies can comply with international regulations, avoiding risks in the business processes. Thus they can increase efficiency and productivity.
Okay! We hope you have got some idea of what SAP GTS is.
Next, we will learn the feature of SAP GTS elaborately in the following section.
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Let’s discuss the features of SAP GTS in this part. It will help you to imbibe the vital functions of SAP Global trade services better.
It is one of the key features of SAP GTS. With this feature, you can verify whether a transaction is valid. Here, a transaction denotes the goods' movement. If any transaction fails this check, it is held immediately and moved to review. This feature of SAP GTS helps to improve the efficiency of trading services.
You can connect SAP GTS with logistics operations seamlessly. This integration streamlines the various export processes such as product classification, examining embargo checks, managing export licenses, and many others.
What’s more! You can integrate SAP Global trade services with multiple government custom systems to smoothen out the global trade services. Note that this integration should be done with authorized interfaces carefully.
SAP GTS has a centralized data repository. You can store all the goods' transit information and compliance data in this repository. Not just that, you can integrate different SAP modules such as SAP CRM, SAP ERP, as well as SAP SCM with this data repository. So these modules can access data from the data repository at any time seamlessly.
SAP GTS optimizes the import processes such as product classification, security filing, filing declarations, customs management, etc.
Not only that, SAP GTS simplifies the various processes involved with customs processes as well as bonded warehouses.
With the help of SAP GTS, you can optimize vendor declaration, customer declaration, preference declaration, and many other trade operations. It also helps to reduce taxes for customs declarations. No wonder SAP GTS manages trade regulations and compliances of around 25 countries.
In addition to complying with international compliance procedures, SAP GTS also complies with regional compliance procedures. For example, SAP GTS supports the compliance procedures defined by European Excise Movement and Control System (EMCS). Besides, it supports electronic compliance reporting in addition to restitution management.
SAP GTS components play a pivotal role in the execution and optimization of global trade operations.
The following image shows the various SAP GTS Components.
Let's have a look ahead at the various components elaborately in this section.
With SAP GTS, you can simplify the customs processes such as foreign trade zones, refinements, customs warehouses, intrastate, etc.
Further, SAP GTS supports special customs procedures such as customs warehouse, inward processing, FTZ, outward processing, temporary importation, etc. Also, it helps to comply with the customs legislation accurately.
Besides, SAP GTS allows you to process the required documents with customs authorities for smooth goods transactions. It helps to speed up shipping goods remarkably.
SAP GTS efficiently handles many import and export compliances such as Embargo checks, legal control, sanctioned list screening, etc. Embargo checks help to identify the list of countries blocked by the UN. The sanctioned list screening is also known as the boycott list check.
Integrating SAP GTS with SAP ERP simplifies compliance checks in real time. This integration allows us to meet the compliances set by various countries.
You can screen importing and exporting processes with SAP Global Trade Services. As a result, you can drastically minimize risks and fines.
Moreover, SAP GTS automates export control laws, compliance checks for sanctions, and many others. It allows shipping of goods as fast as possible.
SAP GTS will enable you to make electronic communication such as e-filing. So you can communicate with customs authorities. Not only that, you can entirely avoid using papers and accelerate the processes of customs verification. As a bonus, it helps to speed up the supply chain process.
SAP GTS handles risk management with the help of components such as restitution, preference management, as well as a letter of credit. Thus, you can eliminate risks in import and export processes with the above components.
When it comes to preference management, it ensures whether all the legal obligations for customs preferences are satisfied or not.
Regarding letters of credit, it helps to integrate import and export processes. So it reduces financial risks in the trading business dramatically.
Regarding restitution, this service allows you to check whether all the restitution payment obligations are satisfied as per requirements.
Levering SAP GTS is not a single-click task. It consists of many stages, from planning to deployment.
Let’s try to learn them in detail in this section.
Planning an efficient roadmap for the implementation of SAP GTS is highly critical. It helps to avoid pitfalls and delays in the deployment process. And it helps to avoid wasting time, human resources, and money.
A well-planned SAP Global Trade Services implementation helps accurately meet the compliance requirements. Besides, it helps to improve productivity and hence boost revenue.
When it comes to SAP GTS, we can break down the design process into six parts as follows:
You must Configure SAP GTS based on the requirements. A well-planned configuration setting allows you to perform the testing and deployment processes effortlessly. It avoids making frequent changes in the configuration settings altogether.
Once the configuration is done, the next step is to test the SAP GTS. It is required to evaluate whether the software meets the requirements. Testing results provide clear-cut information on whether any additional changes are needed in the design.
When the test results are satisfied, SAP GTS is ready to Go-Live.
Before going live with SAP GTS, it is extremely important that employees who will work with SAP GTS must be proficient in handling it. So it is necessary to conduct practical training for employees before launching the software into a production environment.
Training on SAP Global trade services equips employees to implement and manage the tool efficiently. You can conduct training in various modes, such as workshops, how-to sessions, etc.
Undoubtedly, you can reap the following benefits by arranging proper employee training.
This is the final and critical step in the implementation process of SAP GTS. Soon after the employees have acquired the necessary confidence and exposure to work with the tool, you can set it Go-live.
Importantly, you must monitor the tool's effectiveness in the production environment. It helps to identify the areas for improvement and make remedial measures.
There are plenty of advantages to using SAP GTS.
Let’s have a look at them now.
SAP GTS enhances the efficiency of the importing and exporting processes to higher levels. It is done because of the automation capabilities of the tool. Additionally, streamlining trade processes and integration with logistics processes aids in increasing the efficiency of the tool.
SAP GTS simplifies customs clearance processes. It avoids expensive shipment delays and reduces costs. Therefore, business performance is improved to greater heights.
Leveraging SAP Global trade services helps companies to eliminate non-compliance. It helps to avoid fines and penalties altogether. Not just that, but it simplifies auditing processes as well.
You can satisfy international trade regulations by adopting SAP GTS. As a result, you can pass customs clearances and reduce delivery times on the go.
The high-velocity import and export processes enhance the supply chain. Consequently, relationships between various stakeholders can be heightened to new levels.
You can track the movements of goods in real-time. It helps identify the bottlenecks in the trade services and allows quick transit of goods.
SAP GTS tightly integrates with SAP ERP and a few other SAP modules and handles problems in importing and exporting.
|Related Article - SAP ERP Interview Questions|
SAP GTS refers to SAP global trade services. This is one of the SAP modules that streamline and automate import and export processes in a worldwide trade service. It supports boosting productivity and business outcomes exceptionally.
SAP GTS consultants and professionals involved in international trades, importing and exporting, can learn and benefit from this course. Knowing this tool will ease their activities in global trade services.
Of course! You can start a career in SAP GTS since many global traders are increasingly using SAP GTS. If you achieve good exposure to this software, the chances of getting hired by top global trade companies are high. So eventually, you make your future bright and wonderful.
It is software that streamlines global trade service companies' import and export processes. It simplifies customs clearances, tracks goods movements closely, and removes bottlenecks. Also, it helps to comply with the global legal requirements at best.
The latest version of SAP GTS is SAP GTS 11.0
Yes. SAP Global Trade Services helps to automate the processes of ECC. It is part of the process of SAP ECC. Otherwise, it will be done manually.
SAP GTM software deals with global import and export management, legal business operations compliance, etc. On the other hand, SAP GTS deals with import and export operations and compliances, customs clearances, and more.
Companies that make global import and export services can use SAP GTS to optimize their operations. They can streamline their global processes and reap many benefits from it.
|Related Article - SAP GTS Interview Questions|
On a final note, SAP GTS is an excellent tool used to simplify international trade services. So you can deal with global business partners and perform trade operations more efficiently. Well! This blog must have been helpful to you in grasping what SAP GTS is, its features, benefits, and many other essential things about SAP GTS. However, further enhancing your SAP GTS skills will help you get hired by top global trade companies.
If you wish to master SAP GTS, you can attend training in MindMajix and get a certification. It will help you learn SAP GTS better and ultimately make you job ready.
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Madhuri is a Senior Content Creator at MindMajix. She has written about a range of different topics on various technologies, which include, Splunk, Tensorflow, Selenium, and CEH. She spends most of her time researching on technology, and startups. Connect with her via LinkedIn and Twitter .
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