B2B — SAP Hong Kong, Deloitte Team Up

  • Deloitte will offer SAP GTS to its clients.
  • Deloitte has approximately 300,000 clients worldwide.
  • Deloitte has acquired Root9B.

SAP Hong Kong and Deloitte have teamed up to bring an enhanced product solution to their customers. The union deal allows Deloitte to extend SAP products to clients, including SAP GTS which is ideal for global companies that have to deal with international B2B trading compliance issues.

Deloitte has acquired Root9B.

Delving a bit into the framework, SAP acts as a centralized global trading platform that streamlines trade processes.

It allows businesses to manage costs, and check concurrence with free-trade guidelines and customs procedures.

The system, which is accessible via cloud or in-premises, covers over 170 countries.

Deloitte SAP Service Application

Deloitte provides consulting, audit, legal, and financial advisory services to approximately 300,000 clients worldwide. The SAP integration approach will help its clients overcome emerging trends within the B2B sector.

Right now, volatile tariffs and raging trade wars between major economies such as the United States and China have forced companies to put greater focus on the compliance arena. Unexpected taxes on imports of raw materials and those of finished products have in some cases led to product seizures.

The drastic policy changes affect shippers and import-export companies financially, hence the need for both advisory and compliance services.

Tax Audits

Beyond tariff assessments, companies operating in complex trade compliance regions are susceptible to regular financial audits, penalties, and sometimes product seizures. In the US, agencies such as the Customs and Border Protection undertake hundreds of audits each year and impose an equally high number of penalties.

A significant number of the penalties are related to restricted products, which companies have to know about in real-time.

Continued Growth

Last year, Deloitte reported $47.6 billion in revenue, which was a 5.5% revenue increase compared to the previous year. This is despite the challenges arising from the coronavirus pandemic.

The firm has been able to maintain its position in the market by leveraging technology in streamlining complex processes and forming impactful alliances. Additionally, company growth has been spurred by the increasing demand for data analytics.

Deloitte Customers Set to Benefit from Another Alliance

Unexpected taxes have in some cases led to product seizures.

While Deloitte makes inroads in the digitization of critical B2B services, it is also dabbling in network security.

The emerging need has led to its acquisition of Root9B, LLC (R9B), a provider of cyber threat hunting prevention services. The deal is expected to bolster the company’s current threat response capabilities.

According to Deborah Golden, Deloitte Risk & Financial Advisory Cyber and Strategic Risk leader, the company will be able to provide its clients with advanced cyberattack prevention services in addition to its regular offerings.

The following is an excerpt from her statement:

“Commercial and government entities contend with cyber adversaries who use incredibly sophisticated technology to penetrate legacy defenses and take advantage of expanding attack surfaces.

The addition of R9B’s business will expand our complement of skilled cyber professionals and leading technologies, while also offering our clients an advantage against adversaries.”

Samuel Gush

Samuel Gush is a Technology, Entertainment, and Political News writer at Communal News.

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