Oracle GTM - A Centralized Platform for Managing Global Trade Policies and Regulations
Initially Oracle planned to develop GTM as a part of OTM to address International Trade Logistics (ITL) requirements, mainly for customs documentation generation and denied parties association. Later on Oracle has changed their strategy and developed GTM as a separate product on the OTM platform (can be directly accessed from some specific screens of OTM 6.1, once GTM server gets installed).
GTM solutions can be used with any Enterprise Resource Planning (ERP) system and/or legacy order management system and/or as a standalone extension of the Oracle Transportation Management (OTM) family of applications.
With Oracle Global Trade Management the benefits for customers can be categorized as:
Global Trade Management:
Automate Trade Compliance: Accelerate supply chain processes and increase working capital utilization by ensuring products are not delayed in-transit due to compliance issues such as missing import/export documentation. Master Trade Data Management: Centrally manage product, party and other data that are unique and necessary for trade. Improve Product Classification: A central classification repository for all products worldwide supports country specific compliance and other classification driven business processes. In addition, assisted classification tools make product classification faster and easier. Global Trade Compliance:
Implement Restricted Party and Sanction Screening: Manage and mitigate risk by screening government lists, internal gray lists, red flag words, and other custom content. Achieve Trade Compliance: Help ensure compliance with trade regulations, import and export control regimes, embargos, sanctions and internal compliance programs by determining and applying trade controls that may exist for any type of transaction. Acknowledgments for inputs from - Lakshmana Murthy Kodukula, OTM Consultant, Oracle Practice
