Management Dynamics Changes Name to Amber Road!
New Name Marks Continued Growth and Evolution for Global Trade Management Leader
Management Dynamics, a leading provider of Global Trade Management solutions, today announced that it has changed its name to Amber Road. The name change comes during a year of rapid expansion, marked by a 40% growth in employees, a 325% increase in European bookings, and the opening of a flagship office in Tysons Corner, Virginia. This breakout year is anchored by a 33% compound annual growth rate (CAGR) in overall revenue for the past decade.
“Today, our SaaS-based solutions span fourteen software products that include global transportation management, import/export compliance, supplier management, supply chain visibility and a content knowledgebase covering trade regulations and tariffs for more than 120 countries, “ said Jim Preuninger, CEO.
To learn more, please read the full press release or visit www.AmberRoad.com.
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Upcoming Webinar: Bringing Compliance into the Boardroom
September 15th, 2010 at 2:00 pm EST. Register Now!
Global trade transactions account for trillions upon trillions of dollars each year, and this number is expanding as we forge into the future. Additionally, it is becoming more complex to manage US and international regulations.
Yet, despite these factors, compliance departments remain woefully underfunded and understaffed. According to our export compliance research, 14.6% of compliance professionals believe that their company’s executive management is not aware of trade compliance.
How do you get executive level cooperation and sponsorship of your initiatives?
Join American Shipper and Management Dynamics for an upcoming educational webinar, “Bringing Compliance into the Boardroom.” This webinar, featuring a panel of global trade experts, will discuss how to get your voice heard when speaking to your c-level executives about enhancing your trade compliance operations.
In this trade compliance webinar, our expert panelists will discuss:
- Pain points of each member in the boardroom
- How these points relate to compliance issues
- Key messaging to use when speaking to each board member
- Tools to use in your presentation, such as quantifying compliance and its effect on the bottom line
- How automation can contribute to your efforts by adding value and saving money
Speakers:
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Virigina Thompson Director, Import/Export Operations & Global Trade Compliance Crate & Barrel |
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Nathan Pieri SVP Marketing & Product Management Management Dynamics, Inc |
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Beth Peterson President BPE |
Register Today for “Bringing Compliance into the Boardroom!
Upcoming Webinar: Building an Export Management and Compliance Program
American Shipper is hosting an upcoming webinar, “Building an Export Management and Compliance Program.” Sponsored by Management Dynamics (in partnership with BPE), the webinar will take place on July 28th at 2 pm ET. The hour-long round table discussion will include the following expert panelists:
- Beth Peterson, President of BPE
- Joe Burks, Director of Trade Compliance for Cooper Industries
- Nathan Pieri, VP of Product Development and Marketing for Management Dynamics
These experts will discuss best practices for developing your company’s Export Management and Compliance Programs, including:
- Strategic value of your EMCP
- The core elements of an effective EMCP
- The steps required to build an EMCP
- Sharing your strategy with your C-level superiors
Learn how your company can implement processes and systems that ensure compliance with the Export Administration Regulations (EAR). Best of all – it’s FREE! Sign up today.
Firm Receives One of the Largest Fine in U.S. Export Violation History
American Shipper Magazine reports that Balli Aviation Ltd. was sentenced to five years probation and is to pay $2 million for exporting B747 planes to Iran. Balli Aviation plead guilty to issuing three planes to be shipped to Iran without properly obtaining an export license from BIS or receiving authorization from the Treasury Department’s Office of Foreign Assets Control. Furthermore, they continued negotations with Iran even after BIS issued a Temporary Denial Order.
The $2 million fine combined with the $15 million civil settlement is one of the largest fines a company has received in U.S. export violation history.
There couldn’t be a more better example of how important it is to remain compliant then reading about Balli Aviation. Simply using a broker or adding software can help eliminate these huge fines and help keep companies out of court.
Management Dynamics offers an export trade solution that ensures compliance with export requirements of all major trading countries around the world allowing businesses to move goods across borders legally and efficiently.
To read more about the export violator, click here.
To find out more information about Management Dynamics’ Export Solution, click here.
Samsung and Sharp Battle Over Infringed Patent
The U.S. International Trade Commission (ITC) has recommended that the liquid crystal in television monitor and computer screens be banned in the U.S. from maker, Samsung. The ITC ruled that Samsung infringed a patent against Sharp, says the Finanical Times.
Samsung said it plans to ask an appeal court to put the decision on hold.
“We have already developed various ways round [the Sharp patents] so there will be no problems in our business,” it said.
Sharp hopes to strengthens its hold on the U.S. market in LCD displays as Samsung holds almost 20 percent of the market compared to Sharp’s 5 percent.
The ban is unlikely to take effect until after the new year. President Obama has 60 days to reverse the decision if he finds it against the public’s best interest.
To learn more about global trade bans and compliance news, download a Management Dynamics’ GTM Newsletter.
To read the full article, click here
Director of Aviation Sentenced for Export Violation
According to the Bureau of Industry and Security, Laura Wang-Woodford, director of Monarch Aviation, was sentenced to 46 months in prison for conspiring to violate an export embargo by exporting controlled aviation parts to Iran. She is also ordered to pay the United States Treasury $500,000.
“We are committed to protect the American public from the national security threat posed by those who would personally profit from the illegal export of U.S. military technology,” said United States Attorney Campbell. Mr. Campbell thanked the Department of Commerce Bureau of Industry and Security (BIS) and the Department of Homeland Security, U.S. Immigration and Customs Enforcement (ICE), the agencies responsible for conducting the government’s investigation.
Wanna stay compliant? Management Dynamics offers Export On-Demand solution, a complete trade automation solution that helps mid-sized exporters establish an Export Management System. It is a framework that describes both administrative and screening responsibilities to help exporters comply with regulations and maintain export privileges.
Find out more about Management Dynamics’ Export On-Demand
To read the full case, click here.
CTDI Reduces Corporate Risk with Management Dynamics’ RPS On-Demand Solution
Technology Services Company Improves Trade Compliance with Comprehensive Screening of Restricted Parties
EAST RUTHERFORD, NJ, November 5, 2009 – Management Dynamics, a leading provider of Global Trade Management (GTM) solutions, today announced that Communications Test Design, Inc (CTDI), a full service global engineering, repair and logistics company, implemented its RPS On-Demand solution, an advanced risk management solution that screens individuals and businesses to identify prohibited transactions based upon over 90 restricted party lists. Since automating restricted party screening, CTDI has significantly reduced corporate risk and improved compliance with global trade and security regulations while minimizing time and resources required for screening.
Providing repair and logistics services for major Telecom and Cable service providers and OEMs, CTDI also provides the service of screening shipments for many of its customers. CTDI needed to streamline its screening process across multiple order management systems and 25 locations. The company selected Management Dynamics’ RPS On-Demand solution for its functionality, ease of use, and ability to centralize its compliance with multi-org and team-based workflow to enable its global branches to easily manage their own customer shipments.
“We needed to prevent any illegal transactions with restricted entities or trade parties and avoid potential fines and penalties for CTDI and its telecom customers. We had previously relied on a fragmented, incomplete process,” said Greg Pugh, Global Compliance Manager, CTDI. “Management Dynamics provided the best value and came highly recommended by many authorities in the trade industry. It was also very important that the screening did not create a cumbersome distraction during high volume shipping processes. Since using the RPS On-Demand solution, we have significantly reduced our corporate risk, liability and exposure to prohibited transactions.”
Available on a flexible, on-demand architecture, Management Dynamics’ RPS On-Demand solution addressed CTDI’s needs with a secure, comprehensive method to automate screening of its customers, vendors, and other trading partners against all restricted party lists from governmental institutions worldwide. With improved screening algorithms based on computational linguistics, RPS On-Demand delivers at least a 30 percent improvement in screening accuracy with a 70 percent reduction in false positives over traditional methods. The Web-based solution integrates with any enterprise system and can be quickly and cost-effectively implemented.
“Today, exporters are held to a higher level of accountability to meet government mandates than ever before,” said Jim Preuninger, CEO of Management Dynamics. “CTDI uses our RPS On-Demand solution to centralize and streamline its compliance process to improve productivity and effectively manage supply chain risk.”
About CTDI
A premier Telecommunications service company headquartered in West Chester, PA., CTDI has provided groundbreaking maintenance and product service solutions to the global telecommunications industry since 1975. Today, CTDI offers the most comprehensive Service Portfolio in the industry that includes: Wireline Repair & Logistics, Wireless Repair & Logistics, Engineering and Installation services, Global Supply Chain solutions and Product Engineering and Manufacturing. Today, CTDI services Original Equipment Manufacturers (OEM) and Carriers with 42 international strategic repair and logistics locations supported by an experienced team of over 4,500 telecommunications professionals. For more information, visit http://www.ctdi.com/.
About Management Dynamics, Inc.
Management Dynamics is a leading provider of global trade management solutions that improve the performance of global supply chains for importers, exporters, logistics service providers, and carriers. The company’s solutions synchronize the flow of information among trading partners, optimize supply chain execution decisions, and streamline import and export processes to ensure regulatory compliance and minimize cost and risk involved in cross-border transactions. Management Dynamics’ time-proven solutions are used by more than 13,000 global users at some of the world’s most successful 3PLs, carriers, manufacturers, retailers, and high technology companies.
For more information, please visit http://www.managementdynamics.com/html/press/mdi_press_ctdi.shtml
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Prevent Illegal Transactions and Increase Cost Savings with Management Dynamics
Companies engaged in global trade face many challenges. They must manage a large amount of information to establish and remain compliant. The challenge is that global trade content is highly complex and ever-changing. Collecting, cleansing and publishing trade content for all of your trade needs is complicated by the number of countries, government agencies and differences in trade agreements.
How do you reduce the stress of managing trade content?
Management Dynamics offers the industry’s most complete trade content, tightly integrated within our suite of enterprise-level global trade software. Global Trade Content covers 122 countries or roughly 99 percent of world trade. The solution sources from over 300 resources in over 25 languages to transform this data into trade content with a network of over 120 trade professionals.
To find out more download the Managment Dynamics’ Global Trade Content brochure.
Foxsemicon Integrated Technologies, Inc. of Taiwan Agreed to Pay Fine For Export Violation
The U.S. Bureau of Industry and Security (BIS) issued a statement on Tuesday that Foxsemicon Intergrated Technologies (FITI) agreed to pay its penalty of $250,000 for 31 export violations. They are charged with exporting a product from the U.S. to China without a proper export license.
“Exporters must heed the advice of their suppliers when told that products require an export license. Companies involved in systems integration bear the burden of ensuring that license requirements regarding parts and components are met before exporting to foreign customers,” said Kevin Delli-Colli, the acting assistant secretary of Commerce for Export Enforcement.
Furthermore, BIS alleged that FITI knew that licenses were required, but failed to apply for them. BIS agreed to suspend $160,000 worth of FITI fines because they corporated throughout the investegation and agreed to not violate the export law for at least one year.
Knowing which license to apply for can be challenging. Management Dynamics offers a solution that can help. Export On-Demand is a complete trade automation solution the helps U.S. exporters establish an export management system. It is available as a flexible, on-demand solution that can determine if a license is required for a transaction, one of its many features.
To find out more about Export On-Demand, click here.
To read the full report from BIS, click here.
Calling All Exporters: We Need Your Help!
We would like to invite you to participate in an industry survey on companies’ uses of an Export Management System. With the results, we hope to advance industry knowledge of best practices and better understand export compliance operations and processes across a wide spectrum of organizations.
Take the 2009 Export Compliance Survey
Your answers will be kept strictly confidential and will be reported anonymously.
The findings of the survey will be shared during an upcoming webinar on ‘Key Strategies for Establishing an Export Management System’ on October 13, 2009.
Management Dynamics is a leading provider of global trade management solutions that improve the performance of global supply chain for importers, exporters, logistics service providers, and carriers. Our solutions are used by more than 13,000 global users at some of the world’s most successful 3PLs, carriers, manufacturers, retailers, and high technology companies.