Globally, business organizations are taking advantage of Free-Trade Zone (FTZ) for a reduced cost from customs duties, taxes, tariffs, and comparatively less bureaucratic regulations. FTZ is designed to trade between two or more countries, these increases of global trade trend have an open gate for multiple advantages, increase in economic growth, Foreign Direct Investment (FDI), and technology transfer. Increased awareness and adoption of FTZ across the globe is fueling the demand for complete global trade management (GTM) solution for a smooth supply chain process.
Three pillars of GTM offers trade visibility, trade compliance and trade finance. FTZ is the first step towards adopting a complete GTM solution, which eliminates multiple processing fees and reduces the duties on import and export of the same good. The GTM system offers importer & exporter, small retailers and manufacturers to manage a series of operational and financial activities to help them to connect and provide end-to-end supply chain solutions. This results in increased transactional power and working capital of the company.
The GTM system offers the company to automatically generate compliance documents, invoices, custom fillings and necessary documents needed for shipment. This indirectly helps the company to have a visibility of the exact position of the goods in the transactional process. GTM solutions provide an advantage total visibility of movements of goods and help in pre-planning of logistics and transportation.
Ease of doing business by medium retailers, manufacturers, and importer-exporter, followed by the rising demand of developing countries is intentionally increasing the adoption of GTM. FTZ is further helping the traders to trade cost-effectively. With the help of GTM solution duties, regulation, tariffs, supply chain visibility, logistics, distribution, bills of lading, PO, Invoice, and air/ocean shipment schedules are taken care of. Global trade management solutions provide an edge for the company to provide solutions under a single entity, which helps their employees to work confidently without having an entire 360-degree knowledge on global trade transaction, custom duties, and documentation.
Quadrant Knowledge Solutions is conducting a detailed market outlook research on Global Trade Management market. The study will provide a detailed competition analysis in the form of the SPARK Matrix. SPARK Matrix analysis offers a snapshot of key market participants and a visual representation of market participants and provides strategic insights on how each vendor ranks related to their competitors, concerning various performance parameters based on the category of technology excellence and customer impact. Additionally, the research will provide a detailed analysis in terms of market size and market forecast of the global GTM Market and its segments.