Management Dynamics, Inc
Management Dynamics, Inc
September 10, 2007 

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Management Dynamics Releases Enhanced Restricted Party Screening Solution

RPS On Demand Establishes Reasonable Care with Expanded List Coverage and Easy Integration
 

EAST RUTHERFORD, NJ, September 10, 2007 -- Management Dynamics Inc., a leading provider of global trade management solutions, today announced the release of its enhanced Restricted Party Screening (RPS) On Demand solution, a cost-effective solution for automating the trade party screening process, a government mandate for all businesses involved in international trade. This enhanced release provides expanded restricted party list coverage and additional integration options for establishing a greater level of compliance checks for companies to demonstrate ‘reasonable care.’

According to the U.S. Bureau of Industry and Security (BIS) violations for trading with a restricted party can result in administrative fines of up to $120,000 or criminal penalties such as ten years imprisonment and $1 million per violation. In 2006 alone, BIS issued over $16 million in fines to U.S. companies for violating export regulations.

Management Dynamics’ RPS On Demand integrates with any source enterprise system via XML to accurately screen customers, suppliers and other trading partners against over 50 restricted party lists issued by governmental institutions worldwide, alerting users of potential non-compliance and providing a powerful workflow to resolve hits. The web-based solution allows trade professionals to screen multiple parties to each transaction before goods are shipped to prevent illegal transactions with banned entities and trading partners and avoid fines, penalties and sanctions. In addition, RPS On Demand can be utilized by HR departments to screen all employees, vendors and visitors as a key step in a company’s internal security process.

“As a leader in technology with a multinational customer and supplier network, screening has become critical to safeguarding our business," commented James Stearns, Director, Regulatory Compliance and Senior Counsel, at Intelsat, Ltd. “We selected Management Dynamics to assist us in keeping in full compliance with global export regulations because of its complete and up-to-date list coverage. The RPS On Demand solution has allowed us to fully automate this manual time-consuming task, improving our overall efficiency and eliminating potential fines or penalties due to trading with denied parties.”

Management Dynamics’ RPS On Demand solution delivers the following capabilities:

  • Comprehensive List Coverage -- Management Dynamics captures and maintains over 50 restricted party lists issued by government agencies in countries around the world such as Department of State, Department of Commerce, Department of Treasury, United Nations and European Union. Updates are processed within 24 hours of publication to ensure that restricted parties are properly flagged before goods or services are shipped.

  • On Demand Architecture -- delivered on-demand via a secure Internet connection, the system can be deployed globally across company locations without the cost and risk of lengthy software implementations and IT resources.

  • Flexible Integration -- the solution integrates via XML with any enterprise system to synchronize all trade party data.

  • System Configurability -- flexibility to be configured on a single or multi-org basis so that one or all entities can upload trade partners and perform screening. The multi-tiered architecture enables ‘super-users’ to view the results of multi-org screenings, allowing for execution at site level and awareness at the core.

  • Complete Audit Trail -- preserves a complete history of screening actions performed on a given customer or supplier record to reduce corporate risk.

“Screening for restricted parties is essential in order to maintain compliance with the increasingly rigorous security and trade regulations for global companies,” said Jim Preuninger, CEO of Management Dynamics. “Most recently, service industries, such as hospitality, financial services and universities, which place a high importance on ‘knowing your customer’, have found screening to be invaluable for operating efficiently in today’s global market.”