Press Releases
TradeBeam 2.0 Delivers Complete Global Trade Management Solution Optimizing Global Procure-to-Pay and Order-to-Cash cycles
San Mateo, CA, November 4, 2002—Today TradeBeam announces the release of TradeBeam 2.0™, a new solution that has been designed in collaboration with the world’s largest global trading company to mirror global supply and distribution chains, and optimize the Procure-to-Pay and Order-to-Cash cycles for global trade. The solution dramatically reduces costs associated with ensuring the order, shipment and settlement aspects of global trade flow smoothly across the multiple players, multiple systems, regulatory and documentary requirements inherent when doing business on a global scale.
Designed for implementation on a modular basis, the TradeBeam 2.0 solution provides a lower cost of entry and enables customers to focus on key areas, such as global order management, logistics and settlement activities, to help achieve short-cycle return on investment. The solution also enables customers to continue building and expanding global supply chain capabilities over time by adding new modules and global trade services.
“Average trade cycles—order through settlement are 120 days. With TradeBeam 2.0 this cycle is reduced by an average of 12 days, which improves global trade cash flows by 10%,” said Graham R.F. Napier, CEO of TradeBeam. “For a medium size enterprise, e.g., $3B in sales, this represents a $41M improvement in cash flow.”
With our 2.0 release, we are providing a best-of-breed solution for automating global order, logistics and settlement processes with a capability to collaborate and link enterprise applications with trading partners,” said Duncan Jackson, Vice President of Marketing at TradeBeam.
TradeBeam 2.0
TradeBeam 2.0 includes TradeBeam Order. TradeBeam Ship and TradeBeam Settle.
TradeBeam Order
The TradeBeam Order supports the processes associated with preparing an order for global trade. Capabilities include:
- Order Management—TradeBeam enables the initiation of demand with sales or purchase orders, setting the initial terms and conditions of the trade. Purchase and sales orders can be created directly in TradeBeam, or integrated with through third-party ordering systems. Multiple orders can be consolidated into single trade transactions, or deconsolidated into multiple trades.
- Compliance Checking—A Web services based compliance check is available to verify the trade is within the bounds of the customs rules and regulations of the governing bodies.
- Insurance Requests—Request cargo insurance coverage or certificate of coverage and settle claims related to the transport of the trade goods.
TradeBeam Ship
TradeBeam Ship facilitates the fulfillment of international orders. TradeBeam Ship allows key order data to be setup as shipments and then managed through the international shipping process, from creation through customs clearance. Capabilities include:
- Booking—Enables automated management of booking shipments either manually or by integration with carriers and carrier portals.
- Shipping Instructions—Import and Export Shipping Instructions are made available to provide clear direction into the to-port and from-port goods movements.
- Customs—TradeBeam collects, stores and processes all the information required for a shipment to clear customs.
- Shipping Documentation—All formal and informal shipping document requirements are supported such as commercial document creation and management, including the Bill of Lading, Packing List and Customs Invoice. TradeBeam currently supports 400+ documents.
- Track and Trace—Shipment visibility and track and trace information is accessible throughout the life of the trade.
- Proof of Delivery—Proof of delivery completes the transaction with status on when the goods reach the final destination.
TradeBeam Settle
TradeBeam Settle completes the global trade process by providing a full suite of capabilities that see the trade through the final payment event. Capabilities include:
- Invoice Management—Invoice management functionality includes commercial and customs invoice creation and presentation, complemented with a set of reports for viewing and managing outstanding invoices.
- Letter of Credit Management—Electronically manages buyers and sellers existing Letter of Credit usage and relationships. Letters of Credit can be tied directly into the trading process, synchronizing between Letter of Credit data and critical supporting documents, including Bill of Lading, Invoice and Packing List. Additional functionality includes electronic Letter of Credit creation and presentation.
- Reconciliation—A powerful reconciliation engine is available providing support for three, four and five way matching across trading documents. Exceptions are highlighted at the line-item level and are presented back electronically to the user.
- Dispute Management—Items flagged via the reconciliation process can be electronically resolved with trading partners via TradeBeam’s dispute resolution framework. Trading partners are electronically notified of issues and collaboratively resolve disputes, and reconciled documents marked as such and an audit trail maintained of all actions.
- Remittance—Manage actual payment information from banks or buyers. Track payments by invoice and invoice line item and integrate to banks or financial ERPs.
About TradeBeam
TradeBeam is a Global Trade Management software and services company providing a solution that streamlines global trading processes for enterprises and their partners. TradeBeam delivers an end-to-end solution across order, logistics and settlement to improve global trade operating efficiencies and cash flows. We expect TradeBeam 2.0 to deliver twelve plus (12+) days of improvement for your business’ cash flow.