LONDON--(EON: Enhanced Online News)--Technavio has announced the top nine leading vendors in their recent global trade management (GTM) software market report until 2020. This research report also lists five other prominent vendors that are expected to impact the market during the forecast period.
Since 2005, the volume of international trade has been twice as fast as the global average due to swift globalization. With trade becoming global, it became imperative for vendors to make their production and supply chains as efficient as possible. Quick and efficient communication between intermediaries such as transportation and logistics service providers, custom brokers, foreign trade agents, and third-party service providers is imperative. GTM solutions help organizations achieve this and help them gain an edge over their competitors.
“GTM solutions address the requirements of logistics management, regulatory compliance, import and export processes, and financial information of an organization. These solutions streamline and automate business processes and enable businesses to determine the total landed cost. The implementation of trade management solution helps increase productivity, allows real-time access to different supply chain components, and increases visibility across the entire organization,” says Ishmeet Kaur, one of the lead analysts at Technavio for enterprise application research.
Competitive vendor landscape
The key vendors in the market space continuously innovate their offerings and build capabilities as there is less service differentiation in the market. The GTM software vendors invest in the development of specific and customized solutions to ensure their presence in the global market. Major vendors such as Amber Road and Oracle provide differentiating features like supply chain analytics, automated restricted party screening, and order collaboration.
End-users choose the vendors based on the features and quality of the solution. This allows smaller vendors to compete with larger players more effectively, thereby increasing the competition in the market irrespective of brand value. Some of the key features that end-users consider are compliance management, duty management, export management, supply chain visibility, transportation management, and analytics.
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Top nine GTM software vendors:
Amber Road is a cloud-based GTM solution provider that helps customers to connect with their trading partners like suppliers, freight forwarders, transportation carriers, and customs brokers. The company’s solution integrates the software with global trade content and helps in creating global supply chain network. Amber Road GTM solutions help the trading companies to automate their global supply chain. It creates links across activities such as sourcing, logistics, regulatory compliance and cross-border trade and improves the operating efficiencies and financial performance. It also collaborates with suppliers on import and export compliance; shipping documentation; sourcing and quality assurance; booking international carriers and tracking goods and reduce the duties associated with goods.
Aptean provides industry-specific solutions to improve the operational performance for the customers. The company provides TradeBeam GTM solution for global trade management. The software is delivered on agile, cloud-based platform and easily integrate with other back office solutions. Organizations of all size use this software to bring efficient, complaint, and collaborative supply chain in their network.
Descartes is the global provider of on-demand, software-as-a-service (SaaS) solutions for logistics-intensive businesses. The company's solutions help in improving the productivity, performance, and security of logistics. The company provides Descartes Customs and Regulatory Compliance solutions for global trade management that assist end-users in overcoming information lag between trading partners and regulatory authorities. It enables compliance across multiple regulatory requirements, efficient cargo security screening, and custom declaration fillings.
Infor is a global provider of industry-specific cloud-based software products. The company has offices in 41 countries and helps more than 90,000 customers in all industries to improve their business operations. GT Nexus is a collaboration platform that helps companies to improve their global trade and logistics cost-efficiently. It also helps trading companies to automate trade and logistics operations across their global partner networks.
Integration Point is a global provider of global trade management and compliance solutions. It helps the trading companies to effectively manage the import and export of goods, automate global compliance processes, increase supply chain visibility, and reduce operational cost by identifying savings opportunities. The company provides Integration Point Global Trade Management Solution for GTM. The solutions help the trading companies to overcome complexities of exporting, importing, and duty suspension from an integrated platform.
Oracle is a global provider of hardware and software systems. The company provides applications for integrating hardware and software to enable it to work in cloud, on-premises, servers, storages, and databases. Oracle GTM software helps organizations with the entire range of complex B2B trading relationships, optimizing the impact of investments across the demand chain. Its trade management solution for consumer goods helps to improve operations, optimize category management, and increase productivity and collaboration between all the internal and external functions. Furthermore, it allows the trading companies to centrally manage their global trade operations as well as automate, optimize, and monitor cross-border transactions.
Precision Software is a provider of supply chain and international trade logistics solutions. It helps the trading companies to control and manage their global shipping activities. Companies can mitigate risks during trading, reduce transportation costs, and avoid delays at trans-border crossings with their solutions. The company provides Precision Global Trade and Export Management, and Precision Trade Compliance for GTM. These solutions allow the end-users to centrally manage their global trade operations.
SAP is a global provider of enterprise application software and related services. It provides products in many categories such as applications, analytics, cloud, mobile, and database and technology. It offers solution portfolios supporting end-to-end business processes, which helps to deliver tangible business and IT value for functional areas across the enterprise. It provides solutions to financial services, discrete manufacturing, process manufacturing, public services, and service industries. The SAP Global Trade Services ensure regulatory compliance and improve GTM activities. The software helps trading companies to automate and streamline their trade processes, control costs, clear customs faster, and reduce the risk of penalties.
QuestaWeb is a provider of integrated solutions for GTM. The company customizes its solutions to meet complex, customer-unique business processes. Its customer base includes companies from industry verticals like automotive, pharmaceutical, apparel, chemical, and electronics industries. The company’s flagship GTM solution is TradeMaster GTM System. It helps the trading companies to manage export and import processes for importers, exporters, forwarders, and brokers. It also manages the flow of goods across the global supply chain, reduces inventory and operating costs, and ensures compliance with the changing cross-border trade regulations.
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