Trade Technologies Announces Results for 2014
Leader in International Trade Document Solutions Reports Record 2014 Results
Austin, TX (March 4, 2015) – Trade Technologies, the global leader for international trade document solutions, announced today that 2014 was the best year in its history. In 2014, Trade Technologies processed over $9.3 billion of international trade transactions – completing over 32,000 transactions (up 14% from 2013) and achieving record revenues. In total, Trade Technologies has completed over 200,000 international trade transactions with a value of over $60 billion since its founding in 1999.
For 2014, Trade Technologies completed over 13,000 fully electronic presentations of original letter of credit documents to major trade banks. Since 2003, when Trade Technologies pioneered its patented process for presenting original trade documents online to major trade banks, Trade Technologies has successfully completed over 80,000 fully electronic presentations. Each of these presentations contained originals and copies of all required documents, including all types of original third-party “e-transport documents,” such as carrier bills of lading, house bills of lading, forwarder cargo receipts and air waybills.
“Our 2014 results validate our continuing efforts to reduce exporter’s risk and improve profitability by providing innovative solutions to automate and streamline the trade document process,” said Kirk Lundburg, CEO of Trade Technologies. “With a great base of over 1,500 exporters and their forwarders, banks and buyers using our solutions already, we are well positioned to eventually provide a fully automated and paperless trade payment process globally.”
Trade Technologies’ patented, web-based software is easy to use and inexpensive to customize and implement. The Platform automates the creation and delivery of complex trade payment documents, including automated mapping of data from SWIFT and other ERP, logistics and inventory management systems into fully customized original trade documents. Trade Technologies' software enables secure instant delivery of original trade documents online to major trade banks and buyers around the world. Trade Technologies is a leading provider of the services and software to enable digitized original trade documents including certificates of origin, transport documents and other original third-party documents and certificates.
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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