Computerworld - SAP AG last week unveiled a new version of its Global Trade Services software, which officials said can better help customers navigate through the tangle of international trading laws and procedures.
Initially released in 2002, the GTS application is used by some 250 companies to automate the processes involved in cross-border transactions, SAP said. The latest version, GTS 7.0, is built on top of SAP's NetWeaver middleware technology, said Neetin Datar, director of solutions marketing at SAP's global risk compliance unit.
One customer, Foster City, Calif.-based life sciences firm Applied Biosystems Group, is already considering an upgrade to the new application.
Leighton Yates, senior manager for global trade compliance at Applied Biosystems, said he is interested in Version 7.0 because it supports multiple languages, including Chinese, and offers updated reporting capabilities. The company is now using an earlier version of the application.
Yates also noted that the latest version of GTS provides a trade preferences module that can automate the process of complying with applicable regional trade agreements -- a feature that could help Applied Biosystems eliminate redundant processes and save it as much as $1 million.
Added Features New features in GTS 7.0 also include the ability to automatically create letters of credit, which are commonly used in Europe and Asia, Datar said.
For example, he said that about 70% of all transactions based on letters of credit are rejected because of errors. "It's a huge area of pain for our customers, especially those with outsourced manufacturing who are dealing with customers on a global basis," according to Datar.
Proper standardization of the processes can boost efficiency and cut costs for users, he said.
Version 7.0 automates customs warehousing processes, which will help companies to defer or eliminate duty payments, SAP said. In addition, GTS 7.0 supports adherence to mandatory Automated Export System filing requirements, the company said.
The latest version of GTS is available now. Pricing varies, depending on process scenarios, and takes into account transactional volumes.
Read more about ERP in Computerworld's ERP Topic Center.
Free Insider GuideCopyright © 1994 - 2012 Computerworld Inc. All rights reserved. Reproduction in whole or in part in any form or medium without express written permission of Computerworld Inc. is prohibited. Computerworld and Computerworld.com and the respective logos are trademarks of International Data Group Inc.
