Cites growing demand for solutions that integrate physical, financial supply chains ad reason for success
San Mateo, CA — February 4, 2005 — TradeBeam, touting its global trade management (GTM) product suite, said that its products feature import and export compliance, landed cost, inventory management, shipment tracking, supply chain event management, as well as letter of credit, invoice and open account management.
"Signaling the maturing of the global trade management industry, we are beginning to see the merging of the physical and financial supply chains in the market," said Beth Enslow, vice president of Enterprise Research for Aberdeen Group. "Managing global orders, customs, logistics, inventory and trade finance from an integrated platform will let enterprises improve both their physical supply chain processes, their cash flow and working capital management."
TradeBeam said that, currently, over half of the tier-one global original equipment manufacturer (OEM) automotive parts suppliers are using one or more of the company's applications, more than six million parties are being screened for trade compliance on behalf of hi-tech companies, and more than $2 billion in letters of credit are processed through its applications in financial services.
Additionally, TradeBeam said it has completed the deployment of a GTM solution for Department of Homeland Security's Operation Safe Commerce initiative.
Looking ahead, the company said it will release the latest version of its supply chain event management (SCEM) application next month. With the upgraded solution, TradeBeam said that invoices, letters of credit and trade finance requests can all be tied to orders and transportation documents such as transport orders, shipping notifications and physical supply chain events, for a unified view of all global trading activity from one central dashboard.
Users will also be able to tailor comprehensive event plans that detail all expected activity associated with a global transaction across the order, shipment and settlement functions. Alerts can also be established, sending notification if there is unusual activity, if key deadlines are being missed or if items need further attention.
With the security model, customers can extend participation to suppliers, forwarders and other third parties critical to the trading process addressing issues interactively with supply chain partners via a Web-based user interface.
