The global trade management (GTM) solutions provider Amber Road said Thursday that General Electric will use its GTM solution to centralize and automate trade functions worldwide across all of its business units.
GE, an existing customer of Amber Road, has operations in nearly 160 countries and markets in virtually every country, and revenue of $147 billion.
“Its diverse range of products, the number of countries sourced from and exported to, as well as its significant international shipping volumes, all make GE’s global trade requirements some of the most complex,” Amber Road said.
For its global shipments, GE personnel perform country-specific trade compliance checks, determine international shipping documents, calculate duties and manage shipments across its extended trading partners. Amber Road said the risk in not performing these complex tasks properly is shipment delays and increased costs.
GE will use Amber Road’s GTM suite to consolidate and automate its trade operations within a new center of excellence (COE) program. This central group will manage trade for all GE business units, leveraging the software and content provided by Amber Road.
“GE is obviously taking a very strategic approach to global trade,” said Jim Preuninger, chief executive officer of Amber Road, in a statement. “They recognize that executing global trade in a best-in-class fashion can not only drive attractive financial returns, but also lead to competitive advantage.”