TradeBeam Inc. says it has joined with Oracle to offer leaner and even more powerful global trade management (GTM) software and services to its customers.
TradeBeam, San Mateo, Calif., is developing an integration of its GTM application suite to Oracle's International Trade Management adaptor. Beyond that, the two companies intend to work together to develop further integrations for their respective applications, which cover each process involved in cross-border trading.
Generally, Oracle Transportation Management will contribute a global logistics platform, and TradeBeam will provide GTM applications and its database of global trade content to the customer.
Some capabilities of the combined solution include:
• Export and import shipment visibility and trade compliance
• Global trade content management across 54 countries
• Tracking of letters of credit and payments
• Centralized supply chain performance measurement and
monitoring information
• Managing of payment terms for international financing
• Cross-border insurance claims processing
• Collaborative management of inventory through-
out global supply chains
• Monitoring supply chain events, tracking ship-
ments and managing purchase order lifecycles
TradeBeam says that customers can expect to mitigate risk in import/export processes and regulations and to improve import/export cycle times through proactive exception management on shipment tracking, trade document management and compliance. Users also should see a decrease in "days sales outstanding" by improving fulfillment throughput and trade financing; be able to reduce payment cycles through automated and centralized cargo insurance processing, management and reporting; and minimize overtime runs and expedited shipments through proactive contingency planning and monitoring.
"[Oracle's] focus on driving global transportation management to peak efficiency is well complemented by TradeBeam's concentration on compliance with complex trade regulations worldwide and the financial aspects of global trade as well as the visibility into that entire process," says Andrew Salentine, vice president of corporate development for TradeBeam. "We believe that integrating our two offerings represents an ideal opportunity for companies to automate as well as optimize their global supply chains and create a real competitive advantage."
