These are some of the things that can be achieved with the help of an automated GTS platform:
Customs Management : Customs Management allows you to standardize and automate import and export procedures with customs authorities. Communication to the customs authorities can be done via the exchange of electronic messages, as well as the printing of the necessary forms. This simplifies and accelerates customs clearance and administration.
The main areas are:
The GTS consist four main components:
SAP Compliance Management : With SAP Compliance Management you can monitor all transactions of import and export of goods, and so comply with the legacy laws the entire process chain without any gaps. A central key is the observance of boycott lists, embargo checks, and import and export controls, which can all fully integrated into an already existing systems.
SAP Customs Management : Customs related processes are handled by the SAP Customs Management, what is certified by the Customs. Key points are the product classification, customs valuation, the print out of foreign trade documents and not least the IT-based customs clearance, using a electronic communication with the customs. The electronic ATLAS system (automated tarif and local customs system), as well the european transit process NCTS (new computerised transit system) are supported by SAP GTS. This is for all exporting companies even more important, because the usage of ATLAS is obligatory since 01.07.2009 in Germany!
But even more automated customs clearance systems in Europe, USA and Australia are supported by SAP GTS and has been certified already.
SAP Risk Management : With SAP Risk Management the finacial risks for the company can be minimized. The use and handling of preferences (including preference calculation), export refunds, letter of credit for import and export business are supported by SAP GTS.
SAP Electronic Compliance Reporting : With SAP Electronic Compliance Reporting the GTS supports the statistical reports to the authorities, which must be delivered for an inner european trade. Depending for the country's authorithy, the data are provided in accordance to their specified data formats
Here are mainly 4 types of PO’s are there:
Coming to the invoice there are different type of invoice as mentioned below:
In other ways there are one another invoice is Recurring invoices.
The main advantages of using SAP GTS are
Compliance Management contains functions relating to import and export control regulations. This feature allows you to monitor procedures that are subject to licensing requirements and to comply with international legal regulations which prevent and/or restrict trade with individuals, groups and individual countries.
Three main areas of Compliance Management are:
SAP R/3 is the former name of the enterprise resource planning software produced by SAP AG.
It is an enterprise-wide information system designed to coordinate all the resources, information, and activities needed to complete business processes such as order fulfillment or billing.
SAP R/3 was arranged into distinct functional modules, covering the typical functions in place in an organization.
The most widely used modules were Financial s and Controlling (FICO), Human Resources (HR), Materials Management (MM), Sales & Distribution (SD), and Production Planning (PP).
Each module handled specific business tasks on its own, but was linked to the others where applicable.
For instance, an invoice from the billing transaction of Sales & Distribution would pass through to accounting, where it will appear in accounts receivable and cost of goods sold.
SAP typically focused on best practice methodologies for driving its software processes, but more recently expanded into vertical markets.
In these situations, SAP produced specialized modules (referred to as IS or Industry Specific) geared toward a particular market segment, such as utilities or retail.
Comparison of ECC Foreign Trade Vs SAP Global Trade Services (GTS):
SD Foreign Trade vs. SAP Global Trade Services (GTS)
Since the business structures are becoming more complex and markets becoming more global nowadays the necessity of handling foreign trade of a business is rapidly gaining importance. SAP Foreign Trade and/or SAP Global Trade Services (GTS) provides the tools you need to
compete effectively in today’s market. This enables you to:
Foreign Trade in ECC and SAP Global Trade Services (GTS) components are tightly integrated with Materials Management (MM) for handling Imports and Sales and Distribution (SD) for managing Exports. In the area of documentary payments it is also integrated closely with the Financial Accounting application.
Using the following reports that are available, you can evaluate and analyze data for any of the services you use in SAP GTS:
Risk Management is used for Letter of Credit processing, preference determination and the management of Long Term Vendor Declarations. Allowing you to minimize the financial risk associated with global trade activities.
The following services are available:
The system for Global Trade Services (GTS) lets you automate your global trade transactions, manage large numbers of business partners and documents, and ensure that your company always complies with constantly changing international legal regulations.
Electronic Compliance Reporting : ECR enables the regular issue of Intrastat declarations to the authorities for Intra-European trade between two EU member states. The relevant data is collected from the logistics processes, and then sent to your national statistics authorities periodically.
The functionalities involved in SAP GTS are
Benefits of SAP GTS: