Amber Road Expands Free Trade Agreement Solution
Amber Road has significantly increased the global coverage of its Free Trade Agreement (FTA) Management solution, with the addition of 89 global trade agreements, bringing the total to over 120.
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Amber Road provides a single, on-demand platform that automates and streamlines global trade. By helping organizations to comply with country-specific trade regulations, as well as plan, execute and track global shipments, Amber Road enables goods to flow unimpeded across international borders in…
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EAST RUTHERFORD, NJ – Amber Road (NYSE: AMBR), a leading provider of cloud-based global trade management (GTM) solutions, announced today that it has significantly increased the global coverage of its Free Trade Agreement (FTA) Management solution, with the addition of 89 global trade agreements, bringing the total to over 120. FTA identification and qualification in Amber Road’s solution is powered by its Global Knowledge® database of global trade content, which contains the rules of origin, product classifications, and duties and taxes for the major trade agreements.
Amber Road now supports new agreements in North America, Asia, Europe and South America. This includes many of the bilateral/multilateral agreements such as the African Growth and Opportunity Act (AGOA), the ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEP), the European Free Trade Association (EFTA), the China-Switzerland FTA, the Mexico-Central America FTA, and the many Generalized System of Preferences (GSP) programs that have emerged recently.
Utilizing Amber Road’s FTA Management solution can help open up new markets for companies by simplifying the compliance and qualification processes. With new FTAs just passed or on the horizon, such as the EU-Canada FTA, sourcing decisions can be made with an eye towards potential trade benefits from the start.
“The Free Trade Agreements solution is a cornerstone solution of a GTM platform and our customers have been accelerating investments in this area over the last few years,” said Nathan Pieri, Chief Product Officer of Amber Road. “By expanding the number of FTAs available on our platform, we can increase the percent of a supply base that qualifies for the duty savings benefit these special trade programs afford.”
The Amber Road GTM platform allows a multi-national company to manage all their FTAs under one centralized and common process. And since the Trade Agreement module is tightly coupled with the Export and Import modules, the “reduction of duty” benefits are seamlessly integrated with the global supply chain execution processes. With the recent addition of 89 new FTAs into its global trade content database, Amber Road has become the global leader in this area.
“We believe Amber Road supports more FTAs than any other vendor by a wide margin,” said Jim Preuninger, CEO of Amber Road. “Amber Road has witnessed exceptional demand for its FTA solutions from both new and existing customers over the past four quarters.”
Amber Road’s FTA Management solution automates the supplier solicitation, qualification and certificate management processes, enabling importers and exporters to take advantage of preferential duty programs and save millions in duties and taxes.
About Amber Road
Amber Road’s (NYSE: AMBR) mission is to dramatically transform the way companies conduct global trade. As a leading provider of cloud-based global trade management (GTM) software, trade content and training, we help companies all over the world create value through their global supply chain by improving margins, achieving greater agility and lowering risk. We do this by creating a digital model of the global supply chain that enables collaboration between buyers, sellers and logistics companies. We replace manual and outdated processes with comprehensive automation for global trade activities, including sourcing, supplier management, production tracking, transportation management, supply chain visibility, import and export compliance, and duty management. We provide rich data analytics to uncover areas for optimization and deliver a platform that is responsive and flexible to adapt to the ever-changing nature of global trade.