Import management:Helps to expedite customs clearance for import
shipments to reduce costly buffer stock and implement just-in-time
inventory management. SAP GRC Global Trade Services allows you
to easily classify products, calculate duties, streamline electronic
communication with customs authorities, ensure import compliance,
and efficiently manage letters of credit.
Trade preference management:Helps you make the most of interna-
tional trade agreements with capabilities to solicit vendor declarations,
determine the eligibility of products for preferential treatment, and issue
certificates of origin to customers.Restitution management:Enables you to manage and calculate the resti-
tution for the export of common agricultural products (CAP) out of the
European Union with capabilities to assign securities, manage export
licenses, maintain recipes, and calculate and apply for refunds.SAP GRC Global Trade Services automates, streamlines, and standardizes the
global trade compliance tasks that many companies have ignored or struggled
with in the past. Many companies have manual compliance systems, which
are slow and require a large staff to carry out. SAP GRC Global Trade Services
also saves money by keeping tasks in house — such as classifying products —
that were once outsourced, and by helping companies take advantage of
global trade preferences in international trade treaties. Most importantly, SAP
GRC Global Trade Services helps companies avoid hefty fines or even jail time
that can result from failing to comply with global trade regulations.