Trade Technologies Expands Operations into New York
Cutting-edge Global Firm Joins Forces With Leading NY-based International Document Provider
Austin, TX (November 20, 2007) – Trade Technologies, a firm that is revolutionizing international trade with industry-leading technology and outsourced services for overseas payments, is pleased to announce its acquisition of International Document Control Company Ltd. (IDC), the leading provider of letter of credit documentation in the New York area.
The acquisition gives IDC and its experts in international letters of credit access to Trade Technologies' powerful Internet-based Global Trade Management Platform and its network of the world's leading international trade banks.
"We are extremely pleased to have Barbara Trupkin and her highly professional staff at IDC join our global team of international trade outsourcing professionals," said Kirk Lundburg, President and CEO of Trade Technologies. "The experience of IDC combined with our unsurpassed technology will better serve our clients and give us a very strong presence in New York's vibrant export community."
While the paper-heavy process of letters of credit has changed little since the days of Marco Polo, Trade Technologies is rapidly changing international payment practices. Trade Technologies' Global Trade Management Platform and professional outsourced services are leading the way in enabling exporters and freight forwarders to deliver original trade documentation over the Internet to the world's major international trade banks. This far more efficient process helps customers streamline their operations, eliminate discrepancies and accelerate payments.
IDC opened in 1991 and stands as a leader in letter of credit documentation in the New York area. Under the agreement, IDC will be known as Trade Technologies. All IDC staff, including founder Barbara Trupkin, will remain with Trade Technologies and will continue to provide superior customer service to their existing clients.
"We always had the right people and the right knowledge," Trupkin said of the agreement. "Now we have an amazing technology that is greatly improving the way we do business and the effectiveness with which we serve our clients."
Trade Technologies was founded in 1999. Over 1000 exporters, global trade banks and freight forwarders rely on Trade Technologies' software and outsourced services to process billions of dollars of international trade transactions each year.
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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