Adds trade content, additional screening lists, new parcel shipping capabilities to logistics/trade compliance solution
Dublin, Ireland — January 23, 2004 — Precision Software, a supplier of global parcel logistics and trade compliance solutions, this week took the wraps off the newest release of its logistics software, TRA/X International Trade Logistics version 6, adding new features intended to help streamline order-to-delivery processes across global supply chains.
Version 6 brings new and extended functional and technical offerings designed to update Precision's convergence of logistics management with trade content and compliance. Precision says its solutions can help companies streamline transportation processes for both domestics and international shipments.
The latest version includes more trade content within the data repository, additional screening lists for trade compliance checking and extended capabilities for shipping goods by parcel through the support of additional parcel carriers, features intended to provide streamlined order-to-delivery processes across the global supply chain.
Carrier support in the solution covers rating, labeling and electronic manifesting and applies to carriers throughout North America, Europe and Asia. Additional track and trace options provide further customer visibility into the order fulfillment process.
Precision says that the introduction of preferential trade functionality in conjunction with TRA/X's export documentation capabilities gives shippers the opportunity to reduce potential duty liabilities in various export markets. Electronic connection into New Computerized Transit System (NCTS), a European wide system based upon electronic declaration and processing, in Version 6 also provides a cost-effective way to reduce potential delays, according to the solution provider.
TRA/X Version 6 also recognizes the changing regulatory environment and further ensures that the shippers are provided with an automated due diligence compliance process for denied party and export license checking, Precision says.
"V6 mirrors what we see happening in the marketplace today," said Paul Murphy, product development director for Precision. "There are new opportunities for international trade and tangible benefits to be gained by improving the order fulfillment process. However, this is all happening at a time where compliance with trade regulations is clearly prevalent and failure to comply will have a serious downside."