East Rutherford, NJ—Jan. 18, 2012—Amber Road (formerly Management Dynamics, a provider of Global Trade Management (GTM) solutions, launched TradeWizards.com, a free cloud-based portal for global trade. TradeWizards.com is a suite of nine different research tools to help organizations quickly answer questions related to cost and compliance risks associated with importing and exporting goods.
“Companies both large and small are increasingly turning to globalization strategies to increase revenue and lower costs,” said Nathan Pieri, senior vice president of product management and marketing at Amber Road. “With global trade, however, comes the added complexity of understanding how government regulations and tax regimes impact a particular order or shipment. TradeWizards.com helps answer those questions with a suite of decision-support tools, available at no charge and easily accessible via the cloud.”
Users can register for this service at www.TradeWizards.com. Each subscription offers a complimentary number of transactions per month for a limited number of users per company. Nine different modules are available in each of the following solution areas:
- Restricted party screening helps users screen the parties to a transaction against 40 different lists to determine whether a company or individual has been sanctioned for making illegal transshipments, violating import or export regulations, or performing illegal acts.
- Product classification helps users classify products in more than 120 countries. This includes the Harmonized Schedule (HS), export control numbers (ECN) and Schedule B classification systems. In addition, users can also map a classification from one country to another and perform complex classifications for commodities such as watches, sets, and ores.
- Landed cost helps users calculate landed cost for an import or export transaction, including all duties, taxes, customs fees, port charges and other governmental charges. Many companies use this module to make more informed sourcing decisions and/or quote more accurate pricing to foreign buyers.
TradeWizards.com is a streamlined version of Amber Road’s Trade Wizards solution, which is presently used by companies around the world to make better global trade decisions. Upgrading to the paid version of Trade Wizards offers unlimited transactions and additional capabilities in the areas of export and import controls and trade documents.
For more information, visit www.amberroad.com.