Press Release Summary:
Duty Management 2009.1 International Trade and Customs solution lets companies delay payment of all Customs duties and VAT until latest possible time. Replacing existing paper forms, solution specifically enables users to comply with HM Revenue and Customs (HMRC) initiative to implement electronic Alcohol and Tobacco Warehouse Declarations. It also lets users hold Authorized Economic Operator certificate details in system and include them in declarations.
Original Press Release:
Redprairie Helps Businesses to Take the Sting Out of New Duty Legislation
Updated Duty Management solution launched early to help customers comply with regulations
STOKENCHURCH, U.K. - RedPrairie, a world leading consumer driven optimisation company, is launching its Duty Management 2009.1 to coincide with the standardisation of Excise duty calculations by HM Revenue and Customs (HMRC), which will see guidelines for beers, wines, cider, spirits and low alcohol beverages brought into force in June 2009.
RedPrairie's market leading International Trade and Customs solution, Duty Management, enables companies to cut costs by delaying payment of all Customs duties & VAT until the latest possible time, usually after the goods leave the warehouse. Regular releases are available to all users of the software keeping them up to date with the latest HM Revenue and Customs (HMRC) requirements and developments in the industry. It is fully integrated with RedPrairie's Warehouse Management.
The upgraded solution will enable users to comply with a new HMRC initiative to implement electronic Alcohol and Tobacco Warehouse Declarations, replacing existing paper forms. The Duty Management system will automatically send these declarations directly to the HMRC system, which will save keying time and ensure speed and accuracy. The solution will also enable RedPrairie customers to hold Authorised Economic Operator (AEO) certificate details in the system and include them in declarations to HMRC.
Andrew Kirkwood, Senior Vice President and Executive Director, RedPrairie, said, "RedPrairie is constantly working with HMRC to bring new benefits to the industry, and the latest result of this is the new Package and Rework module within Duty Management 2009.1 for Excise Bonded goods. This enables cases of mixed products to be created and held under bond, including the bill and materials which may be needed as part of the repacking process. Reworked goods may be placed into stock or picked and packed for direct dispatch to customers."
Customer Web access to the Duty Management solution is a popular functionality for users, and the 2009.1 product has the facility to enter a pre-advice of receipt to the warehouse to complement the current enquiry and order entry capabilities. There is also a Warehouse Management and e-fulfilment module built into the system. This is in addition to the Bulk module that also includes a full invoicing suite to charge for the receipt, handling, processing and storage of bulk goods in vats or casks. The process for the management of bulk operations and the movement of bulk liquid between vats has also been simplified in line with the latest best practice agreed with HMRC.
Kirkwood continues, "RedPrairie has made significant investment in the development of Duty Management and future plans include facilities such as declarations at port, advance notice of import details and cargo tracking. Businesses using RedPrairie's Duty Management solution have the potential to remain ahead of the competition and have the opportunity to reduce costs in the challenging period ahead."
About RedPrairie Corporation
RedPrairie is a world leading consumer driven optimization company. Built on an advanced Service Oriented Architecture (SOA) developed over the past 15 years, the RedPrairie integrated suite of solutions offers on-demand capabilities to over 40,000 sites worldwide for many of the world's largest companies.
RedPrairie's E2e(TM) solutions synchronize people and products throughout the customer buying cycle to ensure goods reach the right place at the right time. At the point of sale, this means consumers have access to desired products and that the store is staffed with the right people to help them make their purchases. In the production cycle, it means suppliers and manufacturers time and synchronize shipments and production based on demand signals from the retailer. And in the back room of the store, it means having the least amount of inventory, solving the "last yard" problem of the retail supply chain.
With 20 global service sites and standard service methods that have been validated over the last 30 years, RedPrairie provides unparalleled service and support. For additional information, call 1.877.733.7724, or access www.RedPrairie.com.
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