Descartes Systems Group, the global leader in uniting logistics-intensive businesses in commerce, released enhancements to its Global Trade Intelligence solution suite. The enhancements help customers accelerate international business growth while maintaining compliance with increasingly complex global trade regulations, including new sanctions and export controls imposed on Russia and Belarus resulting from the conflict in Ukraine.
“Our latest Global Trade Intelligence release makes it easier for our customers to conduct compliant international business by leveraging significantly enhanced capabilities using artificial intelligence, algorithmic search, data visualization, and our expanded trade data ecosystem,” said Kenneth Wood, Executive Vice President, Product Management at Descartes.
International Trade Data
- New sanctions and export control content resulting from the Russia-Ukraine crisis, including risk management data sets not fully published by government agencies (e.g., Sanctioned Ownership Research (SOR), Military End Use (MEU) and State-Owned Entities (SOE), among others). This enhanced content reduces the effort and expertise required to effectively map risk exposure as part of ongoing compliance due diligence;
- New customs exchange rates to feed ERP-based global trade management solutions, including SAP GTS and Oracle GTM, which improves landed cost calculations; and
- New research, collection and data engineering infrastructure that speeds the addition of new trade content and delivery through XML, API and other technology interfaces.
Market Insight
- New trade content from Mexico, Argentina, Thailand and the Philippines showing commodity flows, trade lanes and port activity;
- New value-added, third-party business development information to accelerate pipeline growth and the identification of new revenue opportunities; and
- New data visualization capabilities to provide ‘at a glance’ summaries of global trade trends in key international jurisdictions.
Trade Automation
- New import classification functionality to simplify and accelerate product analysis and automated classification outputs;
- Enhanced user experience simplifying data presentation to support faster, higher quality compliance decisions against licensable transactions; and
- New item management integration that centralizes and leverages functionality between and across classification, export documentation, license and trade agreement management.
Compliance & Risk Management
- Enhancements to screening and re-screening algorithms that accelerate system performance and sharpen search accuracy, which results in fewer false positive results;
- New mobile versions to enable remote risk screening from Apple and Android devices; and
- User experience enhancements that streamline access to key configuration functionality, including record management and reporting.
“Companies today need two things to effectively manage their global trade activities: access to the right market, regulatory and risk management content, as well as the ability to effectively navigate and leverage that content to make the best decisions for their business,” said Anne Van de Heetkamp, Vice President of Product Management, Global Trade Intelligence at Descartes. “Our latest release builds on our long history of innovation where we deliver proven technology solutions that help our customers achieve world-class results across their global trade activities.”
