Do You Make These Global Trade Service Mistakes?[Self-Audit Checklist]

Table of Contents

SAP Global Trade Compliance Audit Checklist

SAP has a powerful Global Risk & Compliance (known simply as GRC) module to support virtually all Global Trade Services (SAP GTS) processes.  Given the ever growing level of global trade, you need to avoid the following mistakes to ensure success with your global ventures:

SAP GRC Solution

 


  1. Not actively screening transactions and new/modified partner data against lists of sanctioned parties and embargoed countries.

  2. Not actively screening transactions to ensure licensing requirements are satisfied.

  3. Failing to systematically generate paperwork that aligns to customer, product, and country standards in order to reduce manual errors and omissions.

  4. Not electronically submitting export reports to government regimes and applicable agencies, thus reducing errors and liabilities caused when using 3rd parties.

  1. Are you actively maintaining and updating certificates of origin provided by vendors for sourced materials?

  2. Performing FTA calculations without appropriate supporting proof of country of origin.

  3. Not screening imports for compliance and correctness, prior to sending information to broker.

  4. Not providing the ability to cross-reference purchase orders to imports, and to reconcile goods receipts.

  5. Not yet establishing a global master data infrastructure that stores all trade related attributes of materials and partners.

  6. Not reducing errors by systematically generating paperwork (when needed) that aligns to customer, product, and country standards, reducing manual errors and omissions.

  7. Not reducing cost and errors by providing quality data in the right filing formats, even if you are using 3rd parties.

  8. Not Automating the tracking of compliance on the project/BOM level.

  9. Not Automating trade processes through the use of technical interfaces with other systems (internal), partner / vendor systems and government/customs agencies.

 

Trade Finance and Process Audit

 

All of these audit questions could just as well be interpreted as steps you need to take during a trade finance and process audit, and we recommend you do so. 

 

Self-Audit Checklist of Global Trade Rules

 

If you need to ensure compliance with the ever changing Global Trade rules, we have also created a checklist that you can use to conduct your own self-audit or as a basis for having someone conduct the audit for you. 

 

 

Get My Global Trade Services  Self Audit Checklist! 

 

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Lonnie D. Ayers, PMP

About the Author: Lonnie Ayers is a Hubspot Certified Inbound Marketing consultant, with additional certifications in Hubspot Content Optimization, Hubspot Contextual Marketing, and is a Hubspot Certified Partner. Specialized in demand generation and sales execution, especially in the SAP, Oracle and Microsoft Partner space, he has unique insight into the tough challenges Service Providers face with generating leads and closing sales using the latest digital tools. With 15 years of SAP Program Management experience, and dozens of complex sales engagements under his belt, he helps partners develop and communicate their unique sales proposition. Frequently sought as a public speaker in various events, he is available for both inhouse engagements and remote coaching.
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He also recently released a book "How to Dominate Any Market - Turbocharging Your Digital Marketing and Sales Results", which is available on Amazon.

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