The global trade management software provider Amber Road said Tuesday that the specialty chemicals distributor Azelis will use Amber Road to automate restricted-party screening.
Azelis comprises more than 37 specialist distribution companies in a single organization serving the worldwide life sciences and industrial markets. It conducts around 430,000 export transactions annually, with more than 50,000 trading partners around the world, Amber Road said.
As a group active with companies throughout Europe, Asia, Australia and Canada, Azelis cannot ship products to any entities present on restricted-party lists maintained by countries that host its network companies. And due to contractual requirements from some of Azelis’ United States-based suppliers, Azelis also must comply with restricted-party lists in the United States and with embargoes imposed by the U.S. Government.
“Without a comprehensive and automated system, tracking fast-changing regulations on a global basis, and continually evaluating existing and new trading partners is extremely difficult,” Amber Road said in a statement. “Azelis emphasized high accuracy and a low rate of false positives as key requirements.”
Gerrit De Vos, chief compliance officer at Azelis, said, “Amber Road’s ISO 9001 process for updating trade content within 48 hours gives us vital confidence that we will remain compliant even in the face of changing regulations."
Recent developments, such as the sanctions and restrictions on Russia as a result of the Ukraine crisis and the more than $10 billion in fines expected to be imposed on French bank BNP Paribas related to breaches of U.S. sanctions on Iran and other countries, highlight the need for most companies involved in global trade to hone in on restricted party screening.
Amber Road’s solution is to be integrated with Azelis’ ERP system, with a planned rollout to 33 countries in stages, starting with an Azelis entity in Belgium.