SAP has released an update to its Global Trade Services application aimed at helping firms to meet regulatory requirements while managing large, complex supply chain and logistics systems.

The firm made the announcement at its Governance, Risk & Compliance event in Las Vegas, rolling out a new version of BusinessObjects Global Trade Services.

SAP claimed that, when integrated with the BusinessObjects Risk Management system, the new application would automatically help firms address supply chain risk while improving performance.

Used alongside SAP's Governance, Risk and Compliance (GRC) offerings, Global Trade Services is designed to give users up-to-date status information on supply chain logistics, order fulfilment, cross-border trade and international trade regulations.

"Supply chain risk has become a top challenge for companies worldwide, and without a unified GRC approach these issues can spiral out of control if they are not proactively managed," said Narina Sippy, senior vice president and general manager of GRC solutions at SAP.

"SAP's BusinessObjects GRC offerings are designed to help proactively flag supply chain risks and vulnerabilities, empowering business users with the information they need to help develop an immediate plan of action to respond to a potential crisis across their global trade operations.

"With the insight provided by our solutions, companies may develop more risk-aware productive business strategies, and promote consistent execution on them."