SOURCE: Oracle Corporation

Oracle Corporation

January 11, 2010 08:01 ET

Oracle Launches Oracle® Global Trade Management

Single Source of Truth for Trade Compliance Helps Mitigate Supply Chain and Compliance Risk

REDWOOD SHORES, CA--(Marketwire - January 11, 2010) - Oracle (NASDAQ: ORCL)

News Facts

  • To help companies mitigate supply chain and compliance risk, Oracle today announced the availability of Oracle® Global Trade Management.
  • Oracle Global Trade Management is a global, centralized compliance solution designed to help companies maintain visibility and control of cross-border transactions.
  • By automating and orchestrating cross-border transactions, Oracle Global Trade Management enables companies to efficiently manage and control trade compliance activities related to imports, exports and other types of regulatory, legal and company-mandated policies.
  • Oracle Global Trade Management is built on the same platform as Oracle Transportation Management providing customers with a holistic global logistics platform to manage their trade and transportation requirements.
  • Oracle partners contributed valuable expertise to help create this new product. Specifically Deloitte and BPE offered insight to accelerate implementation cycles and CUSTOMS Info provided the preferred content platform. These partners are members of the Oracle® PartnerNetwork.

A Centralized Platform for Managing Global Trade Policies and Regulations

  • Oracle Global Trade Management helps manufacturers manage trade policies and regulations by providing a global, centralized and customizable trade compliance solution that helps mitigate supply chain and compliance risk.
  • With Oracle Global Trade Management, customers can:
    • Automate Trade Compliance: Accelerate supply chain processes and increase working capital utilization by ensuring products are not delayed in-transit due to compliance issues such as missing import/export documentation.
    • Master Trade Data Management: Centrally manage product, party and other data that are unique and necessary for trade.
    • Improve Product Classification: A central classification repository for all products worldwide supports country specific compliance and other classification driven business processes. In addition, assisted classification tools make product classification faster and easier.
    • Implement Restricted Party and Sanction Screening: Manage and mitigate risk by screening government lists, government lists, internal gray lists, red flag words, and other custom content.
    • Achieve Trade Compliance: Help ensure compliance with trade regulations, import and export control regimes, embargos, sanctions and internal compliance programs by determining and applying trade controls that may exist for any type of transaction.

Supporting Quotes

  • "While using Oracle Global Trade Management under Oracle's Early Access Program, the Beckman Coulter team found the product to be designed with much thought behind the need for unique industry requirements," said Mike VonAllworden, Senior Business Process Analyst, Beckman Coulter. "The experience also provided insight into the ease of configurability and extent of automation available. Oracle Global Trade Management can be a valuable tool where global trade compliance is concerned."
  • "Essential to effectively managing global trade processes is the ability to ensure that transactions comply with the regulatory requirements of importing and exporting countries," said Dwight Klappich, Research Vice President Gartner. "Global trade management software has become a critical capability needed to help companies coordinate and manage complex global supply chains while complying with ever changing rules and regulations."
  • "To effectively manage supply chain and compliance risk, companies need to be able to access a single source of the truth for trade compliance," said Derek Gittoes, Oracle Vice President, Logistics Product Strategy. "As the only global trade and transportation solution built on one central platform, Oracle Global Trade Management and Oracle Transportation Management are uniquely positioned to help shippers mitigate these risks by enabling a global view of their logistics processes."

Supporting Resources

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