The Union Government of India has been promoting the Make-In-India message, encouraging more and more business enterprises to have their manufacturing operations based out of India. As part of incentivizing this message, there are several benefit schemes under Foreign Trade Policy of India (FTP 2015-20, Chapters 3, 4 & 5) for the business enterprises who export, or plan to export, their merchandise. The business enterprises need to follow the stipulated procedure and documentation to avail of these benefits.
In addition to the export benefits, there are other areas of compliance documentation specific to India, governing the exports of merchandise as well as the import of goods via the customs/ports.
Without a comprehensive EXIM solution integrated with the ERP and providing flexibility in export documentation, business enterprises run the risk of time-consuming, error-prone and person-dependent manual steps in the above areas. This could result in export shipment clearance getting delayed and/or export payments rejected due to discrepancies in exports documentation. Also, the enterprises could inadvertently miss out on the eligible benefit schemes available and end up with higher landed costs for their procurement.
There are several issues coming up when trying to keep track on real time business critical decisions.
Large number of SAP customers have been facing challenges to keep pace with implementing compliance solutions resulting in errors, manual work and missing deadlines of filing documentation resulting in negative impact on profit margins, market response and customer satisfaction.
OptiExim-The complete solution to smart manage your Export/Import business
OptiExim is a digital solution that covers all the compliance requirements of both the exports and imports workflow of the organization with real time notification and analytics for business decisions. It provides the complete solution for export import software for India based companies as well as abroad. This SAP Solution is a Bolt-On that seamlessly integrates Exports Sales data and Imports Purchase data for all the requisite documentation.
Features
OptiExim is a functional enhancement of SAP ERP and is accompanied with the following features:
- Access anytime anywhere using SAPUI5 / Fiori applications & SAP Enterprise portal applications
- Analytical reports to take business critical decisions
- Integration with external agencies by email automation, file generation to upload in IceGate, application access over SAP Enterprise Portal for CHA.
- Real time data access
- Inbuilt control system for Benefit Scheme utilization and export obligations
- Provision to generate all pre shipment and post shipment documents required for exports
- Facility to have detailed report on the Letters of Credit in both Imports and Exports
- Competitive handling of various benefit schemes like Advance Authorization, EPCG and MEIS
- Facility to track the letter of credit/ DA, DP/ Advance Payment for both export sales and import procurement
- Handling of various types of Bill of Entry and generation of related reports
- Provision to analyze the landed cost in Bill of Entry
- Provision to track various types of bonds
Benefits
OptiExim provides the following benefits for the customers:
- Avail export benefits
- Become more competitive
- Improves supply chain logistics in imports
- Enhances customer experience & handles growth in exports
- Realization of timely exports payments
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