Logistics Trading Services
The common strategy in the transportation and handling of goods is the lowering of costs and improving the quality of service for the end-user.
Logistics Trading Services (LTS) is a cloud based standard solution facilitating process automation pertaining to the import-, warehousing and export of goods.
LTS is based on four main modules, Inbound, Warehouse, Settlements and Outbound and heavily supported by common modules, Data Exchange, Reports and Administration. Each module provides a variety of applications to support every process in the documentation of goods imported from non-EU territories, ensuring that duty is paid on goods destined for EU consumption.
LTS comprises the following modules:
How LTS works
LTS comes with all necessary customs related data pre-installed and provides data adaptors for integration to external systems and trading partners. Each adaptor or interface provides its own Data Refinement Module ensuring high standards, minimal errors and the possibility for fully automated customs declarations activated from a parent ERP-system. File transactions are handled by an internal file manager (LDEA) running 24/7, handling internal and external communication.
If you use bonded warehousing, LTS helps you to manage the necessary processes surrounding this, ensuring that customs duty is either:
- Postponed to the point of time when goods are sold within the EU.
- Eliminated because the goods are re-exporting outside the EU.
Comprehensive documentation is required of companies operating bonded warehouses. LTS takes care of this.
LTS provides you with the appropriate knowledge and overview, putting you in control to achieve the most economical and smoothest customs processing.
LTS is a cloud based standard solution requiring minimal integration with your ERP-system with little or no involvement from your IT department in the set-up.
By using LTS you can
- Postpone payment of customs duties until the time when goods are sold within the EU (improved cash flow).
- Avoid double taxation on re-export to countries outside the EU.
- Reduce costs using freight forwarders.
- Ensure correct declarations which comply with relevant legislation.
- Enable duty-free sale of goods to major customers in the European Union (requires that the customer has a bonded warehouse in the EU).
- Reduce the internal resources used on customs handling.
- Reduce sources of error in declaring goods to customs authorities by having full traceability and history for all imported, bonded and exported goods.
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