Software giant SAP Hong Kong and consulting powerhouse Deloitte have partnered on an offering they say provides substantial benefits to businesses engaged in cross-border trade, according to a press release.
SAP Global Trade Services — or GTS — “help enterprises navigate a more complex and turbulent trade environment,” the companies stated in the release. They cited COVID-19 as one factor that is making trade more difficult.
The announcement continued: “Working closely with SAP, Deloitte offers one-stop end-to-end global trade services, including SAP GTS-enabled Smart GTS serving as a ‘direct train’ to global trade and help enterprises achieve compliance, cost reduction, intelligence and synergy for global trade management in the increasingly complex international trade environment, and thus implement their global development strategies. Its integrated global practice offers a mix of multidisciplinary trade specialists with extensive experience in compliance, customs, preferential trade agreements, technology implementation know-how and unmatched experience across industries worldwide.”
While acknowledging the problems the pandemic inflicts on businesses, the release did not explicitly mention another factor affecting trade: the persistent tensions between the Chinese government and activists in the former British territory.
Features the companies highlight on SAP’s website include: on-premise or cloud deployment; “management of free-trade agreements and customs procedures;” and communication with brokers.
The free-trade management procedures involve helping companies identify the most cost-effective path for navigating duties and tariffs, the release stated.
Fabian Padilla Crisol, managing director of SAP Hong Kong, said in the release: “Business leaders in high-tech, life sciences, luxury goods, industrial machinery and other sectors understand the importance of optimizing cross-border supply chains. With the support of SAP GTS and Deloitte, these businesses are now well positioned to navigate an increasingly volatile and complex global trade environment in 2021 and beyond.”
Deloitte Consulting China SAP Offering Leader Andy Zhou added in the release: “To prosper in the dynamic global trade environment, enterprises are required to keep up with the cross-border trade policies and regulations, meet new consumer demand and the development needs of complex supply chains. The combination of Deloitte’s services and SAP GTS technology allows deep integration and seamless connection to establish a stable, efficient and compliant global trade management model and solution.”