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EAST RUTHERFORD,
NJ, July 9, 2007 -- Management
Dynamics Inc., a leading
provider of global trade
management solutions, today
announced the release of Trade
Collaborator version 14, an
enterprise-class, web-native
application that allows
companies to centrally manage
global trade including import
and export compliance and trade
agreement management. This major
release allows companies to
fully automate related party
transactions which today account
for over 40% of all trade.
According to the US Census
Bureau, related party trade by
US companies with their
subsidiaries as well as US
subsidiaries of foreign
companies with their parent
companies amount to 40.9 percent
or $1,182 billion of total goods
trade in 2006. These
transactions account for 46.8
percent of consumption imports
and 30.8 percent of total
exports. In the absence of a
fully integrated global trade
management (GTM) solution,
companies struggle with multiple
point solutions or are forced to
re-key data from export
shipments to import transactions
which leads to higher staff and
systems costs, more potential
for data entry error and
ultimately longer cycle times.
Management Dynamics’ Trade
Collaborator solution automates
and provides visibility into the
global clearance process with
three integrated modules: Trade
Import, Trade Export, and Trade
Agreements. Trade content for
120 countries is fully
integrated with Trade
Collaborator to support the
highest levels of transaction
accuracy and straight-through
processing. The latest release
introduces ‘Global Transaction’
processing to automate related
party shipments and support the
complexities of classifying
products, determining licensing
requirements, screening for
restricted parties, determining
and routing documents for
hundreds of country pairs. This
level of automation and
validation from the export to
the import entry reduces costs
and increases pre-clearance
rates and cycle times while
demonstrating the highest levels
of reasonable care.
According to the recent “Global
Trade Management Strategies”
report by the AberdeenGroup, 53
percent of large enterprises
agree that improving trade
compliance initiatives is a high
priority in 2007. And with four
out of every ten transactions
destined for related parties, it
is increasingly important that
companies look to fully
integrate global clearance
solutions.
“As the world’s premier
measurement company, Agilent
Technologies needed a truly
global integrated import /
export trade compliance solution
to support our high volume
transactions,” says Rodney Menas,
Director Global Trade &
Security, Agilent Technologies.
“We have rolled the solution out
worldwide and are processing
millions of transactions per
year and have interfaces with
multiple ERP systems and 1,300
users in 42 countries.”
“With Trade Collaborator 14, we
have delivered a solution that
addresses the challenges that
companies have with managing
their related party transactions
and providing visibility to all
facets of their global trade
operations,” said Jim Preuninger,
Chief Executive Officer of
Management Dynamics. “Trade
Collaborator 14 is the only
market-ready GTM solution
available to address the complex
requirements of multi-national
organizations and deliver the
clear benefits realized by
best-in-class companies
identified by AberdeenGroup’s
latest report.”
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