Amber Road, a leading provider of global trade management solutions (GTM), has announced that Terex Corporation, a diversified manufacturer of lifting and material handling equipment for the construction, transportation, energy and manufacturing industries, has chosen to centralize and automate management of its worldwide trade processes with its solution.
Terex operates an $7.3 billion business spread over five segments: Aerial Work Platforms, Construction, Cranes, Material Handling and Port Solutions and Materials Processing. Serving a global customers base, it exports from many different countries. With many of its exports involving high-value industrial equipment, Terex has much to gain from free trade agreements.
Looking to save millions, reduce risk
“Free trade agreements are a multi-million-dollar savings opportunity, but much of it was slipping between our fingers,” notes David Thomas, Head of Global Trade, at Terex Corporation. “As for compliance with trade regulations, we wanted to find a way to manage it more strategically.”
Terex chose the Amber Road global trade management solution, citing the powerful free trade agreement capabilities, broad coverage of all aspects of export management, and comprehensive Global Knowledge® trade content covering 126 countries.
With Amber Road, Terex will be able to centralize and automate the different processes around import, export and free-trade. It expects to achieve considerable time and cost savings through automation and by better utilizing free trade agreements. “Instead of manually checking everything, we will be able to manage by exception. That’s going to save a lot of legwork!” says Thomas.
Multi-phase rollout to focus first on trade agreements
The Amber Road solution will be integrated with three ERP systems currently in use at Terex’s different segments. Deployment will start in two segments, focusing on free trade agreements, with go-live expected in early 2014. Implementation of the Trade Import & Export modules of the solution in selected segments and regions is scheduled for later in the year, followed by a phased rollout of the rest of the solution worldwide.
Jim Preuninger, CEO, at Amber Road, said: “Terex is another example of a large global company that has chosen to centralize its global trade operations across all divisions, globally. It’s encouraging to see thought leaders like Terex taking a strategic approach to global trade.”