SAP Launches Customs Management Solution To Simplify And Accelerate Global Trade
SAP AG (NYSE: SAP) today announced the availability of SAP Customs Management, a new component of SAP Global Trade Services (SAP GTS) that assists customers in expediting the clearance of goods through customs, mitigating risks of non-compliance and reducing the overall costs of cross-border trade. SAP Customs Management helps companies stay competitive by automating and standardizing global trade processes, while also assisting their strict compliance with government trade regulations. The announcement was made at the Bureau of Industry and Security Conference, being held in Washington, D.C. from Oct. 20 - 21.
Governments around the world are modernizing their IT systems to cope with growth in international trade, reduce instances of fraud and, importantly, to strike the right balance between trade facilitation and national security. SAP Customs Management facilitates electronic messages to the various government trade systems, such as Automated Export System (AES), New Computerized Transit System (NCTS) and Automated Tariff Classification and Local Customs Clearance System (ATLAS).
Companies using SAP Customs Management benefit from faster customs clearance, reduced cycle times, minimized buffer stock, improved customer service and increased efficiency in selling and purchasing goods globally. Through SAP Customs Management, companies can classify their products in order to accurately calculate customs duties and taxes owed. They can then print pertinent import and export trade documentation, reducing wait time at the border. SAP Customs Management also helps companies meet strict standards for electronic communication with local customs trade systems to expedite customs clearance.
"When global trade and its impact on supply chain management makes the front page of The Wall Street Journal, you know the topic is becoming important to corporate executives," said Adrian Gonzalez, director, Logistics Executive Council, ARC Advisory Group. "For companies with global supply chains, financial performance is becoming increasingly dependent on their ability to streamline and automate their global trade processes, hence the growing demand for global trade management solutions. Of all the leading ERP vendors, SAP is arguably ahead of the pack. ARC is impressed with the quick progress the company has made, both in terms of functionality and customer deployments."
SAP Customs Management capabilities drive enhanced functionality for SAP GTS, a cross-industry commerce application, providing companies with a complete solution to manage global trade across the enterprise. SAP Customs Management compliments SAP Compliance Management, the other critical component of SAP GTS that helps companies manage international trade compliance issues in three primary areas: sanctioned party list screening, export control (including license management and embargo checking), and import control.
SAP GTS utilizes open standards including XML and leverages the SAP NetWeaver technology platform to provide companies with a holistic approach to managing global trade activities across their heterogeneous IT landscapes. The solution integrates seamlessly with back-end logistic processes to enable companies to operate locally and manage centrally.
"There is tremendous pressure on companies today to automate their customs procedures, take out costs and make their supply chains airtight," said Bill McDermott, president and CEO, SAP America. "With SAP GTS, companies can do exactly that and gain competitive advantage quickly. SAP GTS continues to garner significant traction from marquee company names across a wide variety of industries."
About SAP
SAP is the world's leading provider of business software solutions. Through mySAP Business Suite, people in businesses around the globe are improving relationships with customers and partners, streamlining operations,
and achieving significant efficiencies throughout their supply chains. The unique core processes of various industries, from Aerospace to Utilities, are supported effectively by SAP's 23 industry solution portfolios.
Today, more than 20,500 customers in over 120 countries run more than 67,500 installations of SAP software. With subsidiaries in over 50 countries, the company is listed on several exchanges including the Frankfurt stock exchange and NYSE under the symbol "SAP." (Additional information at (www.sap.com).