Across vendors and applications, Global Trade Management (GTM) solutions must have the capability to immediately integrate with CRMs, ERPs and SCM solutions. There are numerous downloadable versions of a simple sales tax calculator on the market, but only a few downloadable Restricted Party (RP) solution integrators. The technology needs improvement.
In an integrated offering, the GTM framework would remain the backbone, providing analytics, reporting and audit data on the services provided. However, the front end should have the capability to be absorbed directly in the CRM or ERP. This will allow trade compliance to become an integral component in the company’s workflow, rather than a poorly integrated standalone mammoth. For example, with a properly integrated RP App, users would upon the creation of a new sales target, both view and resolve the RP check within the CRM (without needing to log in to the GTM application). Users would then perform a product compliance check within the ERP — instead of routing it through the GTM application, outside the normal workflow.
From an integration perspective, GTM point solutions (like landed costs, RP, product catalog, license determination and origin) will to a large extent become downloadable applications – the download simply creates a domain in the hosted GTM application, while the user integrates the point solution within their system of choice. A seamless integration will ensure the systems stay in sync, and GTM will become a fully visible part of the order, supply and sales chain. This progress will do away with lengthy integrations and a large part of the need for customization – at the very least, companies will be able to limit expensive third-party involvement to a minimum.
Beyond integration: GTM accessibility
It’s time to put your cell phones to good use! As GTM expands its horizons beyond generic solutions, the full suite of GTM products must become mobile. There are of course some challenges, such as real estate — the amount of data on a screen, lack of single sign on capabilities, and security, but these are not necessarily more complex than what has been developed in other markets.
It is unavoidable that you will find GTM solutions within the various app stores; CRMs and ERPs will ‘pre-approve’ GTM applications to become true immediate plug-and-play solutions. Users will be able to string together the GTM apps they want and access them on anything, anywhere, at any time.
This mobile evolution will also push the GTM market toward a more contemporary payment model. Users will encounter fewer upfront investments, lower (if any) maintenance or subscription fees and more transaction-based fees, as customers will pay for individual orders, RP screenings or calculations.
Streamlining GTM for a more efficient enterprise
The days of one-size-fits-all GTM solutions are over. Customers demand products that not only fit their unique challenges but live harmoniously with other solutions. When GTM cooperates with other critical business applications, global trade specialists are free to focus on tasks within their companies’ workflow – and vendors can focus on the security, compliance and communication between applications.