Press Releases
TradeBeam Positioned as the Global Trade Management Leader
Recent Market Consolidation Validates Growing Demand for Solutions That Integrate Physical and Financial Supply Chains Across Borders
San Mateo, CA, January 31, 2005—TradeBeam, the leading provider of Global Trade Management (GTM) software and services, has emerged in 2005 as the only vendor with a full-featured solution suite optimized to effectively manage order, logistics and financial settlement processes involved in global trade. TradeBeam has assembled an end-to-end GTM product suite used by people in over 100 countries that contains import and export compliance, landed cost, inventory management, shipment tracking, supply chain event management, as well as letter of credit, invoice and open account management.
“Signaling the maturing of the global trade management industry, we are beginning to see the merging of the physical and financial supply chains in the market,” said Beth Enslow, Vice President of Enterprise Research for Aberdeen Group. “Managing global orders, customs, logistics, inventory and trade finance from an integrated platform will let enterprises improve both their physical supply chain processes, their cash flow and working capital management.”
No other vendor in the market is able to match TradeBeam’s strategy or the company’s ability to execute on behalf of customers. JP Morgan, despite the recent acquisition of ITL provider Vastera, still lacks global logistics tracking and will have to continue its pursuit of technology to develop a complete GTM product, according to AMR Research.
TradeBeam’s comprehensive product suite, meanwhile, is being used by thousands of customers in multiple industries. Currently, over half of the Tier 1 global OEM automotive parts suppliers are using one or more of the company’s applications, more than six million parties are being screened for trade compliance on behalf of hi-tech companies and more than $2 billion in letters of credit are processed through its applications in financial services. Additionally, TradeBeam has successfully completed the deployment of a GTM solution for Department of Homeland Security’s Operation Safe Commerce initiative.
Continuously striving to improve global trade, TradeBeam will release the latest version of its Supply Chain Event Management application next month. This new release will bring important new features to existing customers, as well as further differentiate TradeBeam as a market leader in the GTM space. Supply chain and treasury professionals across companies will now have greater control and visibility to both the physical and financial supply chains. Invoices, letters of credit and trade finance requests can all be tied directly to orders and transportation documents such as transport orders, shipping notifications and physical supply chain events, creating a unified view of all global trading activity from one central dashboard.
With the application’s increased configurability, customers can tailor comprehensive event plans that automatically detail all expected activity associated with a global transaction across the order, shipment and settlement functions. The application also allows alerts to be established, sending notification if there is unusual activity, key deadlines are being missed or items need further attention. With the security model, customers can extend participation to suppliers, forwarders and other third parties critical to the trading process addressing issues interactively with supply chain partners via an easy to use Web-based user interface.
“We are very pleased to see that the GTM market is taking shape precisely as we anticipated,” said Graham R. F. Napier, President and CEO of TradeBeam. “We are extremely well positioned to capitalize on the growing demand thanks to our end-to-end solutions suite and the on-demand architecture of our product that facilitates real-time collaboration and coordination and takes GTM to the next level.”
About TradeBeam
TradeBeam is a Global Trade Management software and services company providing solutions that streamline global trading processes for enterprises and their partners. TradeBeam’s integrated solutions provide import and export compliance, inventory management, shipment tracking, supply chain event management and global trade finance solutions such as open account and letter of credit management. TradeBeam has over 3,000 customers with users in over 100 countries worldwide.