Press Releases
TradeBeam Delivers Global Trade Settlement Managed Services
San Mateo, CA, October 1, 2002—Today TradeBeam announces the launch of managed services for Global Trade Settlement with 6 pre-sold customers. These services are designed to manage the most important payment and financing vehicles for international trade. The services dramatically reduce the costs associated with managing complex processes requiring lengthy documentation for global trade payment instruments.
Pressures combined with competition require businesses to leverage managed services without compromising quality. TradeBeam recognizes this and has combined leading edge technology; experienced trade professionals and domain process expertise to enable companies to improve and integrate business processes cost effectively.
These services provide a simple hi-value entrance point for global trade management focused on settlement processes enabling customers to continue building and expanding capabilities over time by adding new modules and services. Launch services include the management and administration Letter of Credit and Documentary Collection with plans to expand with more services after the launch TradeBeam 2.0.
“Up to 70% of all Letter of Credit documents submitted to the bank for payment are rejected the first time leading to payment delays and additional fees or penalties,” said Graham R.F. Napier, CEO TradeBeam. “Our guaranteed service levels will reduce Letter of Credit discrepancies to less than 5% and improves Letter of Credit DSO’s by at least 5 days.”
About TradeBeam
TradeBeam is a Global Trade Management software and services company providing a solution that streamlines global trading processes for enterprises and their partners. TradeBeam delivers an end-to-end solution across order, logistics and settlement to improve global trade operating efficiencies and cash flows. We expect TradeBeam 2.0 to deliver twelve plus (12+) days of improvement for your business’ cash flow.