Trade Technologies Reports Record Results for 2012
Trade Technologies Achieves New Thresholds in Revenues, Online Presentations and Transaction Volumes
Austin, TX (February 11, 2013) – Trade Technologies, the global leader in international trade document solutions, announced today that in 2012 they surpassed their record-breaking performance for 2011. For 2012, Trade Technologies processed over $9 billion of international trade transactions -- completing over 28,000 transactions (up 12% from 2011) and achieving record revenues (an increase of 18% over 2011).
"We are very proud of Trade Technologies' performance in 2012," said Kirk Lundburg, CEO of Trade Technologies. "Our exporter customers rely on our industry leading services and patented technology to accelerate payment and minimize risk for their international trade transactions. Trade Technologies' ability to deliver a proven global solution from 10 worldwide locations and to immediately present original UCP 600 compliant trade documents online to over a dozen of the world's largest trade banks clearly differentiated our services especially for large multinational companies."
For the year, Trade Technologies completed over 11,000 fully electronic presentations of original letter of credit documents to major trade banks. Each of these presentations contained originals and copies of all required documents, including all type of original third-party "e-transport documents," such as carrier bills of lading, house bills of lading, forwarder cargo receipts and air way bills. Since 2003, when Trade Technologies pioneered online presentations, Trade Technologies has successfully completed over 55,000 fully electronic presentations. In total, Trade Technologies has accomplished over 150,000 international trade transactions with a total value of over $45 billion since its founding in 1999.
Trade Technologies' patented web-based Global Trade Management Platform and professional outsourced services have revolutionized archaic, paper-based international payment practices to provide exporters with consistency, predictability and visibility into global collections processes. The Company's patented technology and business process lead the way in enabling exporters and freight forwarders to create accurate trade documents and to deliver original documents over the internet to major international trade banks and buyers. This far more efficient process allows customers to streamline their operations, eliminate discrepancies, save money and accelerate payments.
Trade Technologies has offices in Atlanta, Austin, Boston, Chicago, Hong Kong, Houston, Istanbul, London,
Los Angeles, Mumbai, New York, San Francisco and Singapore.
About Trade Technologies
Founded in 1999, Trade Technologies is the largest global provider of outsourced trade document services and software. From its offices in Asia, Europe and North America, Trade Technologies provides leading exporters, freight forwarders and international trade banks with trade document solutions, training and consulting.
The Company’s web-based TradeSharp platform and outsourced services enable customers to streamline their operations, save money, accelerate payments, and eliminate discrepancies traditionally involved in international letter of credit, documentary collections and open account transactions. More than 1,500 exporters, global trade banks and freight forwarders depend on Trade Technologies’ services to process almost $10 billion in international trade transactions each year. Globally, Trade Technologies is presenting original letter of credit and other trade documents online to 71 examination offices of 24 banks in 13 countries.
Trade Technologies was named by Silicon Review as one of the “50 Smartest Companies of the Year 2016.” In 2015, Trade Technologies was awarded the Presidential “E” Star Award for Export Services by the U.S. Department of Commerce and was selected by CIO Review Magazine for its annual list of the 20 Most Promising Banking Technology Solution Providers. Trade Technologies was voted the “Best Trade Tech Solutions Company” in 2012 by readers of Trade Finance Magazine. In 2011, Trade Technologies won the Presidential “E” Award for Exports through the U.S. Department of Commerce, the highest recognition any U.S. entity may receive for supporting export growth. In 2010, the Company was awarded a patent on the Trade Technologies software platform and process.
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