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Cloud Is The New Tomorrow. Leverage It For Scalable Supply Chain Operations

Businesses, in order to operate in today’s markets, need to pay utmost attention to compliance needs. Policies, rules, and regulations are ever changing and are different as business expands crossing local, national or international borders. Ensuring compliance is a complicated affair but is extremely important.

Compliance is no more just a ‘good to have’

It is an essential for brand building and sustainable business

In order to be compliant according to set industry standards, businesses need to follow dynamic regulatory changes. It needs to identify no-compliant shipments and off-board non-compliant suppliers. Above all this, every business needs to ensure real-time visibility and transparency in all its operations. With increasing focus paid put on building a sustainable and collaborative ecosystem, being compliant is a necessity for business to build its brand and ensure sustainability in operations.

GTM systems help track compliance

Inbuilt tools provide visibility to inventory and products and help with settlement processes

Manually, keeping a track of all compliance needs is humanly not possible. Global trade management (GTM) systems have emerged to help organizations keep a track of compliance needs, policies and laws. These systems enable businesses to comply with global trade laws or regulations. They help businesses to ensure lawful and compliant transfer of goods from one location to another.

GTM systems incorporate mechanisms to ensure that products are made, packaged, and shipped within the predefined parameters. Certain GTM systems have inbuilt tools that can coordinate the physical flow of goods, provide visibility to inventory and products, check whether certain materials qualify for preferential treatment under a trade agreement, and help with settlement processes.

GTM systems thus need to handle a gamut of activities related to compliance and ethics. But the challenge is that as industries grow and business expands, GTM systems that don’t leverage advance analytics and neo analytics technologies lack the ability to manage this growth and the intricacies of the ever-expanding supply chain.

Cloud technologies are the future

Scalability and affordable pricing makes cloud attractive

The need of the hour is a cloud-based Global Trade Management system. Companies that want to gain a competitive advantage are looking at sophisticated IT platforms that can manage end-to-end logistical needs and renders business compliance at all checkpoints; and at the same time ensures low costs, high scalability and risk mitigation. Cloud technologies are the future in the supply chain and compliance world.

Cloud-based GTM solutions that provide bleeding edge trade management and compliance solutions have hit the markets. The biggest challenge for any business today is scalability of operations. Cloud technologies have evolved with the premise of building a flexible business ecosystem.

The biggest advantage that such solutions provide is scalability of business. These platforms are built using scalable hardware, allowing you to think not just about today, but more about tomorrow. This means, as your business grows, so will the technology. A cloud-based GTM system will be able to manage the ever-expanding customer demands and expectations. The initial setting up cost is low, and cloud-based GTM systems render your business flexible to the changing market conditions.

Zero set-up cost, zero maintenance

Latest features, minimal down-time

With a cloud-based GTM system, you will not be spending heavily on the initial set-up cost. You have the flexibility of pay-as-you-go subscription models. When there is a growth in business needs, use more and pay accordingly; when there is a fall in business needs, scale down and pay less. You don’t have to invest heavily on on-premise software or maintain them regularly. The cloud-service provider takes care of all the IT infrastructure and up-time, letting you focus on your core business.

All information resides on networked servers and can easily be updated in one single go as new information is received. This information can be accessed from any of your networked nodes.

Another advantage of cloud GTM is the visibility and transparency that it provides across the entire supply chain network. Since businesses need to be compliant at all levels and functions, managers need to be aware of all activities taking place, in order to make sure business is moving in the right direction. GTM systems create a seamless network of suppliers, agents, logistics, customs and other stakeholders in the supply chain.

The system lets all these participants collaborate and work together in mission-aligned manner ensuring compliance goals are met and business operates effectively. It builds an unhindered information flow network so that business is always updated on important issues such as supplier information, inventory checking, tariff classifications, shipment tracking, and so forth.

Cloud is the new tomorrow. Leveraging cloud-based GTM can add incremental value to your business and empower you to drive your business towards growth by taking care of the entire stakeholder ecosystem

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