SAP has integrated its Risk Management software with their Global Trade Services software. What does it mean exactly? The Risk management software is precisely what it sounds like; there are a lot of requirements for any sort of package to be shipped, particularly outside of the country, and this piece of SAP software ensures that things such as Export Licenses and relevant applications have been filed and approved before attempting to ship anything. It seems very complicated, but when you consider you are shipping to another country it really does all make sense.
What does this mean for businesses exactly? Well, compliance doesn't exactly help the company make a profit. Therefore they usually don't bother to do it themselves. For this reason they tend to hire third party brokers to do this work for them. This costs quite a bit of money, but it's apparently worth it to the company to not have to bother about it. This is going to change rapidly soon, especially with this package that SAP has released. It has become so simple that companies can just have someone on the inside do it without having to worry about wasting money on an outside source.
While some companies are going to keep using outside brokers, it has become clear that they will probably start deploying the SAP software so that they can ensure all of the regulations are being properly followed. There's nothing more irritating than a government agency coming down on you over a license that you failed to file five years prior.
While risk management isn't going to be the one reason that companies buy this, it certainly does add a sugar coating to the already attractive Global Trade Services software. It's an amazing piece of software that allows a business to follow both international and domestic laws while keeping themselves in check with their own company laws. While sometimes it can be rather tiresome to be so compliant, it does a great job of keeping a company afloat.
As far as software and computing goes we've come a long way. Software like this helps us to do things that we would have had to do by hand not so long ago. Of course this also means that there are fewer excuses to be made when there is a mistake. If you're running a company that is still doing this by hand then you should definitely have a look at SAP's latest software package. It's going to blow you away with all of it's state of the art features.
