New Balance Implements Upgraded TradeSharp Platform
Trade Technologies Extends Functionality of Industry Leading Trade Document Automation and Delivery Software
Austin, TX (January 9, 2017) – New Balance, a leading global athletics apparel company, and Trade Technologies, the global leader for international trade document solutions, today announced the latest release of the New Balance TradeSharp platform. New Balance has utilized the TradeSharp platform since 2015 to provide connectivity, automation, visibility and workflow across its trade document chain from its factory suppliers to its global buyers. The most recent TradeSharp release for New Balance enables, among other things, rule-based, intelligent transaction templating to automate and enforce compliant documents and tasks across the New Balance supply chain ecosystem.
TradeSharp for New Balance is a fully integrated and customized private cloud solution which enables collaboration, workflow and trade document compliance across the New Balance document supply chain connecting over 80 suppliers and buyers with New Balance on a single integrated document and data exchange network. Since 2015, TradeSharp has successfully completed over 10,000 transactions for New Balance.
“Trade Technologies is uniquely positioned with a deep understanding of export trade, industry leading technology and responsive custom development resources to provide this highly scalable and visionary custom solution to New Balance on-time and on budget.” said James Frederick, Global Trade Compliance Specialist. “TradeSharp has been a highly effective business process automation solution for New Balance.”
Since 2003, Trade Technologies has provided business automation software and trade document services to exporters and importers in almost every industry and market. To date, Trade Technologies has have successfully completed over 250,000 international transactions with a value of over $75 billion for thousands of customers globally. Over 40% of these transactions have been delivered digitally.
“We are delighted to have partnered with New Balance to extend our industry-leading TradeSharp platform to automate trade document compliance across the New Balance supply chain,” said Kirk Lundburg, President and CEO of Trade Technologies, Inc. “This latest extension assures timely and compliant results for a complex and evolving global supply chain.”
The patented TradeSharp cloud platform securely connects importers and exporters with their suppliers, buyers, banks and other trade participants on a common platform to automate and digitize document creation, delivery and approval. TradeSharp resides on a secure, cloud-based architecture providing global 24/7 visibility and fostering collaboration across distributed businesses.
Key TradeSharp features include:
Common cloud-based platform for automated document and data exchange with all parties;
Customized data management and documents;
Rule-based, intelligent transaction templating automates and enforces compliant documents and workflow based on transaction details;
Customized and structured workflows optimize results across distributed internal teams, suppliers, buyers and third parties;
Robust user defined reporting tools for all transaction data and metrics;
Secure electronic document creation and exchange with buyers, banks and third parties;
Multiple data import and exchange methodologies;
24/7 real-time visibility and access to transaction status, exposures, performance and all other aspects of documentation and receivables management; and
TradeSharp customers always have access to Trade Technologies’ on demand training consulting and outsourced trade document services.
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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