Compliance Regulatory for Cross-Border Transactions
Compliance Regulatory for Cross-Border Transactions
Customs Management:
Regulations: Customs regulations vary by country and include duties, taxes, and import/export restrictions.
SAP Support: SAP Global Trade Services (GTS) helps manage customs processes, including duty calculation, customs declarations, and compliance with local regulations.
Sanctioned Party List Screening:
Regulations: Screening against sanctioned party lists is mandatory to prevent transactions with prohibited entities.
SAP Support: SAP GTS automates the screening process, comparing business partner addresses with sanctioned party lists to ensure compliance.
Legal Controls:
Regulations: Legal controls include checking for licenses, embargoes, and restricted goods.
SAP Support: SAP GTS performs legal control checks, ensuring that transactions comply with relevant laws and regulations.
Embargo Checks:
Regulations: Embargoes restrict trade with specific countries or entities for political or security reasons.
SAP Support: SAP GTS includes embargo checks to prevent transactions with embargoed countries or entities.
License Management:
Regulations: Certain goods require licenses for import/export, and managing these licenses is essential.
SAP Support: SAP GTS helps manage license requirements, ensuring that all necessary documentation is in place for compliant transactions.
Handling Import and Export Business Cases
Automated Compliance:
SAP GTS automates compliance processes, reducing manual effort and minimizing the risk of errors.
Real-Time Visibility:
SAP provides real-time visibility into compliance status, allowing businesses to make informed decisions and respond quickly to any issues.
Integration with Other Modules:
SAP GTS integrates with other SAP modules like MM (Materials Management) and SD (Sales and Distribution), ensuring seamless end-to-end processes.
Reporting and Analytics:
SAP offers robust reporting and analytics tools to monitor compliance, track performance, and identify areas for improvement.
By leveraging SAP’s comprehensive compliance management capabilities, businesses can handle cross-border transactions efficiently and ensure adherence to regulatory requirements.
