Some companies have done little to comply with restricted parties lists.
They have either been ignorant of restricted parties lists or have hoped they
wouldn’t get caught shipping items to banned individuals.
Other companies have managed to comply with the regulations in a limited
way by using manual means, but at great expense of time and money. For
example, an employee at a company might compare a handful of interna-
tional sales orders against various restricted party lists. If it’s a major com-
pany with hundreds or thousands of sales orders each day, the employee
might only be able to ensure a fraction of the sales orders are not violating
import and export regulations.
This is no way to run a global trade operation in today’s security-charged
environment. In fact, you might be a little freaked out at this point with all the
talk of terrorists, restricted party lists, export licenses, and myriad regula-
tions. Fortunately, there are applications that can take the heavy lifting out of
global trade management. Global trade management software can automate
nearly all of the tasks, including checking automatically to ensure that you
don’t ship goods without a license or to a restricted party.
Using the SAP Approach: SAP GRC Global Trade Services.....................
SAP GRC Global Trade Services manages all the complexities of international
trade including full regulatory compliance and management of risk while
trading on a global basis. It consists of separate modules that enable compa-
nies to improve their supply chain and comply with international regulations.
SAP GRC Global Trade Services automates the key tasks needed to effectively
trade with partners around the world. What’s more, SAP GRC Global Trade
Services is integrated with SAP’s other GRC solutions, such as SAP GRC Risk
Management (see Chapter 2).
The product requires minimal installation and ramp-up time; it is installed on
a single server, and there is no client software to install. Authorized users
around the world can access the application via their Web browsers.
Components of the solution include
Export management: Automates and streamlines complex export
processes to ensure faster delivery to customers by minimizing delays
at national borders while ensuring compliance with relevant regulations
and mitigating the financial risk of global transactions.
154 Part II: Diving into GRC