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CTDI Reduces Risk and Improves Compliance with Global Trade and Security Regulations
Technology services company taps Management Dynamics' RPS On-Demand Solution for comprehensive screening of restricted parties
Nariman Behravesh, chief economist for IHS Global Insight, comments on the September 2009 USA Today/IHS Global Insight Economic Outlook Index in this video posted September 25, 2009. More on the index at www.economicoutlook.usatoday.com.
East Rutherford, NJ — November 6, 2009 — Technology services company Communications Test Design, Inc. (CTDI) has implement an advanced risk management solution from global trade management (GTM) specialist Management Dynamics and has significantly reduced corporate risk and improved compliance with global trade and security regulations while minimizing time and resources required for screening, the solution provider has announced.
West Chester, Pa.-based CTDI is a global engineering, repair and logistics company, offering maintenance and product service solutions to the global telecommunications industry since 1975. Providing repair and logistics services for major telecom and cable service providers and OEMs, CTDI also offers the service of screening shipments for many of its customers. CTDI needed to streamline its screening process across multiple order management systems and 25 locations.
The company has implemented Management Dynamics' RPS On-Demand solution, a risk management solution that screens individuals and businesses to identify prohibited transactions based upon 90-plus restricted party lists. Management Dynamics said that CTDI select RPS On-Demand for its functionality, ease of use and ability to centralize its compliance with multi-org and team-based workflow to enable its global branches to easily manage their own customer shipments.
"We needed to prevent any illegal transactions with restricted entities or trade parties and avoid potential fines and penalties for CTDI and its telecom customers," said Greg Pugh, global compliance manager for CTDI. "We had previously relied on a fragmented, incomplete process."
Pugh said that Management Dynamics provided the best value and came highly recommended by various authorities in the trade industry. "It was also very important that the screening did not create a cumbersome distraction during high volume shipping processes," he added. "Since using the RPS On-Demand solution, we have significantly reduced our corporate risk, liability and exposure to prohibited transactions."
Available on an on-demand architecture, RPS On-Demand solution addressed CTDI's needs with a secure method to automate screening of its customers, vendors and other trading partners against all restricted party lists from governmental institutions worldwide.
With improved screening algorithms based on computational linguistics, RPS On-Demand delivers at least a 30 percent improvement in screening accuracy with a 70 percent reduction in false positives over traditional methods, according to Management Dynamics. The Web-based solution integrates with any enterprise system and can be quickly and cost-effectively implemented.
"Today, exporters are held to a higher level of accountability to meet government mandates than ever before," said Jim Preuninger, CEO of Management Dynamics. "CTDI uses our RPS On-Demand solution to centralize and streamline its compliance process to improve productivity and effectively manage supply chain risk."
West Chester, Pa.-based CTDI is a global engineering, repair and logistics company, offering maintenance and product service solutions to the global telecommunications industry since 1975. Providing repair and logistics services for major telecom and cable service providers and OEMs, CTDI also offers the service of screening shipments for many of its customers. CTDI needed to streamline its screening process across multiple order management systems and 25 locations.
The company has implemented Management Dynamics' RPS On-Demand solution, a risk management solution that screens individuals and businesses to identify prohibited transactions based upon 90-plus restricted party lists. Management Dynamics said that CTDI select RPS On-Demand for its functionality, ease of use and ability to centralize its compliance with multi-org and team-based workflow to enable its global branches to easily manage their own customer shipments.
"We needed to prevent any illegal transactions with restricted entities or trade parties and avoid potential fines and penalties for CTDI and its telecom customers," said Greg Pugh, global compliance manager for CTDI. "We had previously relied on a fragmented, incomplete process."
Pugh said that Management Dynamics provided the best value and came highly recommended by various authorities in the trade industry. "It was also very important that the screening did not create a cumbersome distraction during high volume shipping processes," he added. "Since using the RPS On-Demand solution, we have significantly reduced our corporate risk, liability and exposure to prohibited transactions."
Available on an on-demand architecture, RPS On-Demand solution addressed CTDI's needs with a secure method to automate screening of its customers, vendors and other trading partners against all restricted party lists from governmental institutions worldwide.
With improved screening algorithms based on computational linguistics, RPS On-Demand delivers at least a 30 percent improvement in screening accuracy with a 70 percent reduction in false positives over traditional methods, according to Management Dynamics. The Web-based solution integrates with any enterprise system and can be quickly and cost-effectively implemented.
"Today, exporters are held to a higher level of accountability to meet government mandates than ever before," said Jim Preuninger, CEO of Management Dynamics. "CTDI uses our RPS On-Demand solution to centralize and streamline its compliance process to improve productivity and effectively manage supply chain risk."
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