What are the Pain Points in Global Trade Services?

Global Trade Services helps you to automate your international trade processes, manage your partners and compliance-related documents and ensure that your company monitors and complies with the ongoing revisions and amendments to international legal requirements.

What are the Pain Points in Global Trade Services?

The Pain Points in Global Trade Services can be summarized as follows:

1. Inefficient Process in an ERP system

2. IT Support issues

3. Pace of Change issues

4. Analysis / ROI issues

5. Risk Management issues

Pain Points in Global Trade Services

Lets review the Global Trade Services pain points in detail:

1. Inefficient Process in an ERP system, which causes the following issues.

• Different systems for import, export and shipping functionality
• Lack of visibility into trade programs
• Inefficient and labor intensive processes (manual, redundant,etc.)
• Data maintenance is labor intensive
• Lack of end to end processes integration
• Inconsistent practices across geographies and channels
• Inability to replicate best practices across the organization
• Long cycle times

2. IT Support issues which includes,

• Expensive and time consuming to interface to ERP systems
• Minimal system support for legacy systems
• Integration with backend ERP system was batch oriented and needed duplicate entries -- leading to longer time cycles and errors.

3. Pace of Change issues such as,

• Stringent widespread trade compliance enforced by customers
• Unable to easily fulfill rapidly changing meticulous documentation requirements
• Difficult to keep up with fast changing global trade compliance regulations

4. Analysis / ROI issues

• Unable to track export fully loaded costs
• Inability to capture all associated system and process costs
• Poor return on investment

5. Risk Management issues

• Manual management of required certificates for preference programs
• Data intensive and manual determination of BOM for certification of a preference program
• Fines can be given for improper use of preferences or poor record keeping of all customs preference used in global trade