Electrocomponents expands Amber Road Solution to integrate and automate export management
EAST RUTHERFORD – Amber Road (NYSE: AMBR), a leading provider of global trade management (GTM) solutions, today announced that Electrocomponents plc (LSE: ECM) selected Amber Road to provide a comprehensive Trade Automation Export Management solution.
Electrocomponents has been using the Amber Road on-demand solution for restricted party screening since 2011. This new implementation vastly expands the Electrocomponents Group’s trade management reach and capabilities, enabling automated product classification, license determination and management, and landed cost analysis. With these new capabilities, the existing automated restricted party screening will become a seamless part of the Group’s overall trade management processes. The full Amber Road solution will be integrated with the Electrocomponents ERP system and deployed across the global supply chain.
Oxford, UK-headquartered Electrocomponents, with its well-known RS Components and Allied Electronics brands, is a world-leading engineering products distributor. Offering a portfolio of more than 500,000 products and serving one million customers in over 80 countries spread across five continents, the Group annually handles more than eight million orders.
Electrocomponents has launched a ‘One Global Offer’ initiative, with the objective of selling the majority of its products into every country worldwide. To achieve this goal, the Group needs to automate its trade compliance, supply chain and import/export documentation to speed the process.
“With its deep global trade management knowledge and expertise, and easy scalability, Amber Road shines as the best-in-class solution for our current business needs and plans,” said Charlie Jenkinson, Head of Compliance, at Electrocomponents Plc. “We expect some of our growth to come from emerging markets, where the trade environment tends to be highly complex, which is why we’re so keen to deploy Amber Road.”
With the help of the Amber Road solution, Electrocomponents expects to grow revenues through improved supply chain performance and shorter order cycles and by eliminating manual, error-prone cross-border trade processes. It also anticipates efficiencies from cross-border transportation and utilization of more open licenses.
“The desire to expand into emerging markets is a prime driver for demand in our solutions,” commented Amber Road CEO Jim Preuninger. “We believe the breadth and depth of Amber Road’s Global Trade Knowledge will be crucial to Electrocomponents’ ability to meet its growth objective.”
He added: “Electrocomponents’ choice of Amber Road following its experience with our Restricted Party Screening is a clear vote of confidence in our solution. It strengthens our already-solid position in the electronics market.”
About Electrocomponents plc
Electrocomponents is the global distributor for engineers. With operations in 32 countries, we offer more than 500,000 products through the internet, catalogues and at trade counters to over one million customers, shipping around 44,000 parcels a day. Our products, sourced from 2,500 leading suppliers, include electronic components, electrical, automation and control, and test and measurement equipment, and engineering tools and consumables.
RS Components and Allied Electronics are the trading brands of Electrocomponents plc. The Group is listed on the London Stock Exchange and in the last financial year ended 31 March 2015 had revenues of £1.27bn.
For more information, please visit the website at www.electrocomponents.com.
About Amber Road
Amber Road’s (NYSE: AMBR) mission is to dramatically change the way companies conduct global trade. As a leading provider of cloud based global trade management (GTM) solutions, we automate import and export processes to enable goods to flow across international borders in the most efficient, compliant and profitable way. Our solution combines enterprise-class software, trade content sourced from government agencies and transportation providers in 145 countries, and a global supply chain network connecting our customers with their trading partners, including suppliers, freight forwarders, customs brokers and transportation carriers. We deliver our GTM solution using a Software-as-a-Service (SaaS) model and leverage a highly flexible technology framework to quickly and efficiently meet our customers’ unique requirements around the world.