TradeBeam Integrates Customs Data into Global Trade Management Platform

Analyst sees value in physical and financial supply chain solution that integrates trade rules

Analyst sees value in physical and financial supply chain solution that integrates trade rules

San Mateo, CA — July 25, 2005 — Global trade management specialist (GTM) TradeBeam has completed the integration of new trade content from Open Harbor, which it acquired in December.

Open Harbor had developed a model for gathering global trade content and making it available for use in an international trade logistics (ITL) solution. TradeBeam has now incorporated the company's Global Trade Compliance group and has kept trade content flowing to most of Open Harbor's previous customers.

TradeBeam said that the compliance capability acquired with Open Harbor allows it to provide a centralized repository of global trade content containing millions of trade rules from more than 60 countries around the world.

The integration of Open Harbor's trade content marks another milestone in TradeBeam's execution on its strategy to provide an integrated suite of solutions capable of streamlining the entire global trade process, from compliance to inventory management to supply chain event management to financial settlement, the solution provider said.

Analyst's View

In a research brief titled "TradeBeam Keeps Rounding Out Its GTM Set," published in June by TechnologyEvaluation, analyst Predrag Jakovljevic notes that GTM solution providers like TradeBeam have recognized that ITL applications must be combined with other order and financial settlement applications to obtain full value from investments.

"Point solution providers are disappearing as the leaders understand that to truly improve global trade one must be able to manage both the physical supply chain, including such areas as export/import compliance, shipment tracking, inventory management and financial supply chain, covering such areas as purchase order processing, pre- and post-shipment financing and reconciliation, across the entire trade transaction," Jakovljevic wrote.

Both TradeBeam and Open Harbor developed its offerings as hosted solutions, allowing for the rapid pace of integration of the trade content assets from Open Harbor, according to TradeBeam. The move is estimated to have saved TradeBeam 18 months of development work and over $20 million in costs.

"One of our main stated objectives for the acquisition of Open Harbor was bringing its strong global trade content into our solution portfolio," said Graham R. F. Napier, president and CEO of TradeBeam. "I am very pleased that this has been completed within six months, ahead of our initial expectations. We believe that we are now in an excellent position to bring innovative new GTM products and services to market, leveraging this trade data as the foundation."

Additional Articles of Interest

— Imminent terrorist attacks or no, your competitive advantage demands that you secure your company's supply chain. Read more in "Supply Chain Security: Is Your Company Complacent or Engaged?," in the February/March 2005 issue of Supply & Demand Chain Executive.

— For a look at how Tyco Fire & Security is tackling trade compliance issues in its global supply chain, see "Turning Global Trade Compliance Into a Competitive Advantage," in the August/September 2004 issue of Supply & Demand Chain Executive.

— For more information on the challenges and opportunities presented by increasingly global supply chains, see the special in-depth report in the August/September 2004 issue of Supply & Demand Chain Executive, which includes the following articles:

— For more information on the global supply chain, with a focus on security issues, see "Building the Secure Supply Chain," the Net Best Thing article in the June/July 2003 issue of iSource Business (now Supply & Demand Chain Executive) magazine.

— For more information on the latest trends in the logistics space, see the article "The Analyst Corner: Fulfillment & Logistics" in the October/November 2004 issue of Supply & Demand Chain Executive.