SAP® GRC For Dummies®

Chapter 17. Ten Best Practices in Global Trade

Globalization means a lot more of us are involved in global trade these days. Here are ten best practices to help you navigate these complicated waters. (And don't forget to read Chapter 8 for much more information.)

Automate or Else

Global importing and exporting has grown so complex it's absolutely crucial to automate your import and export processes. Dozens of countries, hundreds of regulations, and thousands of orders can quickly create a mountain of paperwork. More importantly, it's simply not feasible to hand check each order to ensure it complies with global trade regulations. Rolling the dice can have major consequences for companies — large fines and public disgrace. The best solution is to put in place a software system — such as SAP GRC Global Trade Services — that automates all of the essential import and export tasks.

Don't Go to Pieces

Remember the old war between VHS and Beta? Customers who bought one system couldn't use tapes from the other and vice versa. It was a big mess. Today, some companies handle global trade the same way. Different departments within each company often manage imports and exports using processes and tools that are not necessarily compatible company wide. Doing this is a recipe for disorder, inefficiency, and mistakes. The best way to handle importing and exporting is to create a central repository for all of your global trade data and standardize on best practices for global trade.

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