Press Releases
Laurel Industrial Selects TradeBeam to Ensure Compliance with U.S. Export Regulations
OEM Will Use Export Compliance Solution From Global Trade Management Suite
San Mateo, CA, December 6, 2005—TradeBeam, Inc. the leading provider of Global Trade Management (GTM) software and services, announced today that Laurel Industrial Company, Inc., an exporter of geophysical equipment, water resources equipment and marine measurement products, has signed an agreement to use the restricted-party screening and license determination applications within TradeBeam’s integrated GTM platform. The applications will provide the company with an automated solution for managing government export requirements.
With offices in San Jose, California, and Beijing, China, Laurel Industrial has exclusive distributorship to the People’s Republic of China (PRC) for its venders. Laurel Industrial needed to automate its export management processes to prevent the risk of non-compliance with regulatory requirements and operational inefficiencies. TradeBeam’s manual restricted-party screening and license determination applications help the company achieve this goal by automating screening checks for all orders processed. ’s very important for us to know the laws and have a process in place to ensure regulatory compliance,” said Wei Wang, CFO of Laurel Industrial. “TradeBeam has helped us address this concern by providing us with a solution for managing government export requirements.”
It is expected that TradeBeam’s Restricted-Party Screening and License Determination applications will help Laurel Industrial improve its export management system and ensure compliance with U.S. export laws. In turn, Laurel Industrial will also be able to drive goods through its supply chain in a more efficient manner.
“We are pleased that Laurel Industrial has recognized the value of our compliance solution and look forward to helping the company improve its global trade operations,” said Graham R.F. Napier, president and CEO of TradeBeam. “We believe automating the export management process is just one step to improving global trade operations. To maximize financial results, these types of solutions need to be part of a broader offering encompassing logistics and financial settlement related applications as well.”
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.