Financial Supply Chain Enabler TradeCard Touts 2004 Results

Cites high year-on-year growth, high profile customers wins

Cites high year-on-year growth, high profile customers wins

New York  January 27, 2005  TradeCard, a provider of on-demand financial supply chain products, this week touted its 2004 successes, pointing to year-on-year revenue gains and high-profile customer wins over the past 12 months.

Through its Web-based platform, TradeCard connects buyers and suppliers online, enabling them to transact and giving them access to integrated financial and trade services.

The provider said that its 2004 revenue was up 129 percent from 2003, marking the second consecutive year that the company more than doubled its revenue.

Customer wins that helped drive this growth over the past year, among others, included Rite Aid Corporation, the Fortune 500 drugstore chain (see article); Kellwood Company, a Fortune 1000 marketer of apparel and consumer soft goods; and Columbia Sportswear Company, one of the world's largest outerwear brands.

"Just a few years back, what we did was seen as revolutionary, the province of executives who'd take a chance on new ideas to solve old problems," says Kurt Cavano, TradeCard's chairman and CEO. "Today you can't go into a home in North America that doesn't have a product procured over TradeCard."

In 2004 TradeCard said its saw a near 100 percent increase in the volume of transactions processed over its platform. The growth carried TradeCard's annual transaction volume into the billions (USD), according to the solution provider.

According to Cavano, "Our existing customers were a big part of the increase. Every single buyer boosted their transaction volume this year."

Likewise, business with suppliers remained strong, as TradeCard signed on nearly 500 companies in China, Hong Kong, India, Korea, Taiwan, Vietnam and other countries. TradeCard also continued its expansion in Europe, where its new office brought on suppliers in approximately 10 countries. All together, TradeCard now counts customers in 34 countries. "What we're doing is providing a technical, financial and legal framework for global trade," says Cavano.

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 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.

More articles about TradeCard.