PORR AG Selects @GlobalTrade™ for Digitization of Bank Guarantees & Surety Bonds
GlobalTrade Corporation (GTC) has announced today that PORR AG (PORR), one of the largest construction companies in Austria, has selected its @GlobalTrade™ Multi-bank Trade Finance Platform for managing its bank guarantees and surety bonds. PORR employees will use the Platform to access transactions on-line from any place in the world and electronically connect PORR Treasury with its financial institutions.
PORR will manage outgoing transactions with @GlobalTrade™ Guarantee Issuance System http://www.globaltradecorp.com/solutions/standby-lc-guarantee-issuance/ and incoming transactions with @GlobalTrade™ Guarantee Receipt System http://www.globaltradecorp.com/solutions/standby-lc-guarantee-receipt/.
‘The decision to adopt an electronic platform for the management of guarantees has been made before the Covid-19 pandemic,’ said Alfred Gabler, Head of Group Treasury PORR AG. ‘With the new reality and the need to access real time information from outside the office as well as to digitize as many financial processes as possible, those platforms have become a must have for every company,’ added Gabler.
‘With the need to work from home, our clients have told us how much they appreciate the ability to access their trade finance transactions remotely. Being able to create, approve and send new transactions to their financial institutions electronically is a great advantage’, said Stephen Andersen, GTC’s Vice President Professional Services & Client Support. ‘We are honored that PORR has trusted GTC to start the project under the Covid-19 restrictions. GTC has been implementing projects remotely for many years, which allows us to serve our clients efficiently even during these challenging times,’ added Andersen.
Driving innovation for excellence – that’s what PORR stands for since already over 150 years. With around 20,000 employees and a production output of around EUR 5.6 billion (as at 31.12.2019), it is one of the largest construction companies in Austria and among Europe’s leading providers in the sector. As a full-service provider, PORR offers every service in building construction, civil engineering and infrastructure construction, covering the entire value chain. PORR focuses on its home markets Austria, Germany, Switzerland, Poland, Czech Republic, Slovakia and Romania. On selected international project markets such as in Norway, the UAE and Qatar, PORR focuses on export products in tunnel construction, railway construction and civil engineering. The PORR share is listed in the prime market of Vienna Stock Exchange. Find more information at porr-group.com.
Tel: +1 416 661 8520
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
AT&T ® México Selects MATRIXX Software for Prepaid Platform Replacement4.6.2020 15:00:00 CEST | Press release
MATRIXX Software today announced that https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.att.com.mx&esheet=52230127&newsitemid=20200604005138&lan=en-US&anchor=AT%26amp%3BT%26%23174%3B+M%26eacute%3Bxico&index=2&md5=52456f1fe4eebcb68026fb5ad3b2dd58 AT&T® México, a subsidiary of AT&T® USA and one of the largest mobile players in the Mexican market, is deploying MATRIXX Software’s cloud native digital commerce platform for its prepaid customers. MATRIXX Digital Commerce is replacing multiple legacy Intelligent Network (IN) and Business Support Systems (BSS) to provide a future-proof, web-scale BSS that will allow for greater innovation and business agility. MATRIXX will support both the AT&T brand and UNEFON brand on a single platform. The industry’s leading solution for real-time cloud native rating and convergent charging for 5G(CCS) and 4G(OCS), MATRIXX Digital Commerce was selected after a rigorous evaluation process that included multiple vendors. “We are proud to be
Moody’s Analytics Forecast: Resurgence of COVID-19 Could Cause Global Economic Depression4.6.2020 14:00:00 CEST | Press release
According to the Moody’s Analytics baseline economic forecast, real global GDP will fall by 4.5% this year as a result of COVID-19. Our base case for the US suggests that it will take until mid-decade for the economy to return to full-employment. Mark Zandi, Chief Economist at Moody’s Analytics, describes the outlook in a new paper, Handicapping the Paths for the Pandemic Economy. “COVID-19 has caused massive damage to the global economy. Quickly reopening economies will boost growth by unleashing pent-up demand, but will also raise the specter of a re-intensification of COVID-19 and another economic downdraft, which could lead to a worldwide depression. We construct our economic forecasts to help market participants navigate this daunting uncertainty and make better decisions,” said Mr. Zandi. The Moody’s Analytics baseline economic forecast represents our view of the most likely trajectory for the global economy. The baseline forecast is part of a set of 12 forecast scenarios, update
Vertex Enhances Integrated Tax Solution for SAP ® Ariba ®4.6.2020 13:13:00 CEST | Press release
Vertex, Inc.,a leading provider of tax technology and services, announced enhancements to its solutions integration with SAP® Ariba® Buying and Invoicing, providing customers with timely, advanced tax insights within their procurement and supply chain processes. Vertex launched an SAP Ariba Tax API and the Vertex Indirect Tax for Procurement with SAP Ariba app extension in 2018, enabling companies to obtain tax calculations from within SAP Ariba Buying and Invoicing, while also supporting the requisition and invoice reconciliation phases of the tax process. This integration with SAP Ariba solutions helps calculate tax at the purchase requisition, invoice reconciliation and final tax determination phases, carrying tax from the purchase requisition to the purchase order. The integrated solution is now enhanced to distinguish between vendor charged, buyer payable, self-assessed and value-added reverse charge taxes, as well as multiple levels of jurisdictions. SAP Ariba solutions provide c
Pierre Fabre Receives European Approval for BRAFTOVI ® (encorafenib) in Combination With Cetuximab for the Treatment of Adult Patients With BRAF V600E -Mutant Metastatic Colorectal Cancer4.6.2020 13:03:00 CEST | Press release
Intended for international media only/not intended for UK- and US-based media This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200603005490/en/ Pierre Fabre today announced that the European Commission (EC) has approved BRAFTOVI® (encorafenib) in combination with cetuximab (marketed as Erbitux®) for the treatment of adult patients with BRAFV600E-mutant metastatic colorectal cancer (mCRC) who have received prior systemic therapy.1 This approval is based on data from the Phase 3 BEACON CRC trial.1,2 The EC decision is applicable to all 27 EU member states plus Iceland, Liechtenstein, Norway and the United Kingdom.3 “This approval is truly great news and much needed for patients with BRAFV600E-mutant mCRC and for physicians treating this devastating cancer, as until now, there has been no EC-approved therapies specifically indicated for this high-medical-need population,” said Josep Tabernero, MD, PhD, BEACON CRC trial lead inves
Moody’s Analytics Tops 14 International Categories in FocusEconomics Analyst Forecast Awards4.6.2020 13:00:00 CEST | Press release
Moody’s Analytics, a global provider of financial intelligence, ranks #1 in 14 international categories in the 2020 FocusEconomics Analyst Forecast Awards. These awards include #1 Best Overall Forecaster – Hong Kong, plus the top ranking in five other forecast categories across 12 countries. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200604005200/en/ #1 Best Overall Forecaster – Hong Kong #1 Interest Rate Forecaster – Austria #1 Interest Rate Forecaster – Italy #1 Interest Rate Forecaster – Portugal #1 Interest Rate Forecaster – Bahrain #1 Inflation Forecaster – Belgium #1 Inflation Forecaster – Malaysia #1 Current Account Forecaster – Brazil #1 Current Account Forecaster – Uruguay #1 Fiscal Balance Forecaster – Croatia #1 Fiscal Balance Forecaster – Peru #1 GDP Forecaster – Malaysia #1 GDP Forecaster – Slovenia #1 GDP Forecaster – Tunisia We also took second or third place in an additional 29 categories including: #2 Be
Temenos Recognized as the Only Global Power Seller in the 2020 Deal Survey, With More Than Double the New Named Deals of the Next Banking Platform4.6.2020 11:30:00 CEST | Press release
Temenos (SIX: TEMN), the banking software company, has been listed as the industry’s only ‘Global Power Seller’ in Forrester’s prestigious Global Banking Platform Deals Survey 2020 with 30% increase in new named deals. Temenos landed more new global banking deals than any other provider in 2019, as stated in the Forrester report. Temenos was also named ‘Top Global Player’ in the survey, based on combined deals, which represent a vendor’s ability to enhance its market position and keep creating value for its existing customers. Forrester reconfirmed Temenos’ status as a ‘Top Global Player’ for the 8th consecutive year. This ranking recognizes platforms with over 150 combined deals (new names and extended deals with existing customers) in more than five regions. With 177 deals signed with new and existing customers, Temenos maintained its position at the forefront of the table. Temenos also retains its position as a ‘Global Power Seller’, the highest status in the vendor pyramid for new
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom