GT Nexus, Open Harbor Simplify Global Trade
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The initiative, announced Monday, will integrate Open Harbor's content-rich trade security, compliance and documentation services with GT Nexus's logistics management, global visibility and event management systems.
"In today's environment, any company that imports or exports goods must be extremely diligent about managing trade compliance and security. Executives have to know, more precisely and faster than before, where the products are, who is handling them, how they are documented, and when events occur that put security at risk," said Beth Peterson, vice president of product solutions at Open Harbor.
The combination of the two business systems -- global trade management and logistics execution -- allows customers to control and track the flow of goods through the order-to-delivery cycle, and ensures that all crucial trade documentation, customs clearance, regulatory screening and security compliance processes are addressed. Furthermore, it serves as an auditable record of compliance with shipping requirements and government security programs.
As part of the integrated platform, Open Harbor will provide the software, infrastructure and real-time trade content to execute global trade management activities, including product classification, product catalog management, restricted party screening, import and export compliance, trade documentation and trade process automation.
GT Nexus will provide supply chain logistics functionalities, such as order management, supply chain modeling, event management and analytics, transportation procurement, contract management and execution, and global visibility at all transaction levels.
"Combining our real-time content and automated compliance tools with GT Nexus' visibility and event management architecture extends our solution. It supports our goal of giving importers and exporters a comprehensive, single global view that strengthens the security of their supply chain while mitigating risk," Peterson said.