GlobalTrade Corporation to Provide Alstom With Solution to Centralize Management of Bank and Parental Guarantees, Sureties and Standbys.
GlobalTrade Corporation (GTC) has announced today that Alstom, the leading global innovative player for a sustainable and smart mobility, selected @GlobalTradeTM Platform to replace its internal system and improve efficiency and controls of its trade finance operations. Alstom will use the Platform to reduce operating costs by improving reporting and management oversight capabilities.
For many years Alstom had been managing guarantees using its own internal system. Even though it is a very robust and comprehensive tool, Alstom decided to look for an agile solution offering more flexibility, functionality and support of the best market practices. Alstom also wanted to work with an experienced technology partner that can help streamline and digitalize their business and bank communication processes including integration with existing systems’ APIs.
Christine Dross, Bonds & Guarantees Director, Alstom said, “With the @GlobalTradeTM Platform, Alstom will optimize the transaction cycle and turnaround time, and achieve effortless multi-channel SWIFT-compliant connectivity, with its global network of financial institutions. The Platform will be a one-stop solution for recording, tracking, and viewing guarantee instruments and their life-cycle changes. It will simplify the communication and significantly minimize the risk of data inconsistencies with financial institutions. Proven data migration approach for historical transactions and tight integration with other Alstom systems are other factors that were critical in our decision to implement GTC’s solution.”
Stephen Andersen, COO, GTC said, ‘We are proud to provide Alstom with our @GlobalTrade™ Guarantee Issuance solution. The integration capabilities of our solution with downstream and upstream applications and ERP systems of Alstom will greatly enhance efficiency, reduce costs, and will meet its business objectives.’
About GlobalTrade Corporation:
GlobalTrade Corporation (GTC) pioneered multi-bank trade finance solutions for corporates. The company continues to lead the industry by developing ecosystems aimed at digitizing all stages of a trade finance transaction and connecting all transaction parties. The latest version of the company’s cloud solution includes features for establishing and managing relationships with banks and insurance companies, pricing of trade finance instruments, their issuance, and advice, post-issuance events, managing electronic documentation, and risk participation. Recognizing that trade finance is tightly connected to other areas inside and outside a corporate organization, GTC supports multiple interfaces and formats for sharing information with other internal corporate systems, such as ERP, financial reporting, cash management and payments, user management, as well as external platforms for connecting with banks and logistics providers. Taking the knowledge and expertise that GTC acquired from over 20 years of servicing MNCs, it created a streamlined version of its platform for SMEs that delivers major benefits of the enterprise version at a reduced cost and implementation effort.
For more information, please visit www.globaltradecorp.com.
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