Currently localised for Brazil, Argentina, and Mexico; India edition due this year
Thomson Reuters has launched ONESOURCE Global Trade, an automated trade management solution designed to improve efficiency of corporations’ global supply chain and trade compliance operations.
The solution,based on the expertise of Softway, which Thomson Reuters acquired in 2013, combines workflow tools with real-time information and analysis. With workflow management tools, the system facilitates information exchange between a corporation’s trade team and their logistics, compliance, finance and strategic planning departments. It also connects trade teams with external partners responsible for managing a complex global supply chain, including customs brokers, freight forwarders, customs, shippers, regulators, and banks. Thomson Reuters currently supports a customer base of more than 300 multinational corporations with its trade solutions.
ONESOURCE Global Trade offers six modules and multiple country editions. Modules include exporter and importer workflow tools, and information and analysis modules for foreign trade agreements, special programmes, Restricted Party Screening (RPS) and trade finance. The system is designed to integrate with a company’s Enterprise Resource Planning (ERP) or Warehouse Inventory Management (WIM) systems.
ONESOURCE Global Trade has been localised for Brazil, Argentina, and Mexico. These country editions include information on all trade laws, customs regulations, tariff and tax rates, and licensing requirements particular to a country. This information is gathered and analysed by in-country Thomson Reuters trade specialists, who also provide insight on various special trade programmes offered in these countries. Editions also include language localisation.
Thomson Reuters is currently localising the ONESOURCE Global Trade solution for a large number of additional countries, with the aim of serving multinational companies with a single trade automation solution in all countries where they have significant operations. In 2015, Thomson Reuters will announce ONESOURCE Global Trade launches in India, China, the US, Japan, Korea, Colombia, Chile, Peru, Singapore and Thailand.
Taneli Ruda, Managing Director, Thomson Reuters Global Trade Management business said, “This solution enables multinational corporations to tie together key supply chain information to gain complete visibility of their end-to-end global trade process —reducing risk, maintaining regulatory compliance, enabling quick and accurate movement, and maximising profit.”
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