Amber Road Launches Carrier Cargo Screening
06 Maio 2019 - 10:00AM
Business Wire
Easy and Accurate Solution to ‘Know Your
Customer’
Amber Road (NYSE:AMBR), a leading provider of global trade
management solutions, has announced a new cargo screening solution
to address the challenge carriers face in identifying shipments
that may contain prohibited, hazardous, or dual-use goods based
only on the limited information provided on a transportation
manifest or air waybill. The solution is ideal for global logistics
providers who must aggregate and accurately screen a high volume of
shipments from multiple providers to comply with increasingly
stringent laws.
The global logistics industry is challenged by trade regulations
related to Know Your Customer (KYC) which requires carriers know
the shipper, the recipient, and the end-use of the products they
carry to ensure that goods are not shipped to a sanctioned party or
embargoed country and comply with non-proliferation of dual-use
goods unauthorized for general trade. Customs authorities around
the world are increasingly monitoring the effectiveness of
logistics providers’ cargo screening processes to determine
compliance. There are numerous examples of companies that use only
“exact matching” screening algorithms on names and addresses who
have been cited for failing to meet the standard of reasonable care
and have been penalized with escalating fines.
“Global trade requires that companies keep up with ever-changing
regulations and standards of reasonable care to maintain their
trade privileges,” said Nathan Pieri, Chief Product Officer at
Amber Road. “However, the market has been devoid of tools to meet
these more stringent examinations. With our new Carrier Cargo
Screening Solution, we have developed new content libraries and
advanced algorithms to offer a robust supply chain risk platform
ideally suited for global logistics providers.”
Amber Road’s Carrier Cargo Screening Solution is built on the
foundation of its leading Restricted Party Screening tools and
Global Knowledge® trade content information service. With hundreds
of millions of screens per day against over 600 lists, the solution
uses advanced computational linguistics algorithms and a tuning
workbench to provide high accuracy with a minimum of false
positives.
The new Carrier Cargo Screening is very advanced and completely
unique. It uses algorithms developed to process natural language to
synthesize product descriptions to determine if the goods being
shipped are of a concern. To add more intelligence to these
algorithms, Amber Road’s trade content team has developed special
libraries that translate technical phraseology into common language
and trade terms typically found on source transportation orders
such as manifests and air waybills. When carriers use the solution
to screen product descriptions and other parameters, the algorithm
applies millions of data points to calculate a risk score and alert
the carrier to potential problems.
Carriers can aggregate risk scores based on an overall risk
index to determine whether a shipment should be flagged for further
review, enabling carriers to manage by exception. Any potential
concerns can be resolved within the Amber Road platform or an API
is available to return a comprehensive set of screening results
that can be resolved in the carrier’s own system of record.
“We are very excited about the impact our new solution will have
in the carrier industry,” said Jim Preuninger, CEO, Amber Road. “We
have solved a critical problem by combining our advanced
technologies with our vast experience in linking software with
content. We expect our new offering to generate significant
interest and meaningful new subscriptions starting this year.”
About Amber Road
Amber Road’s (NYSE: AMBR) mission is to dramatically transform
the way companies conduct global trade. As a leading provider of
cloud-based global trade management (GTM) software, trade content
and training, we help companies all over the world create value
through their global supply chain by improving margins, achieving
greater agility and lowering risk. We do this by creating a digital
model of the global supply chain that enables collaboration between
buyers, sellers and logistics companies. We replace manual and
outdated processes with comprehensive automation for global trade
activities, including sourcing, supplier management, production
tracking, transportation management, supply chain visibility,
import and export compliance, and duty management. We provide rich
data analytics to uncover areas for optimization and deliver a
platform that is responsive and flexible to adapt to the
ever-changing nature of global trade. For more information, please
visit www.AmberRoad.com, email Solutions@AmberRoad.com or call
201-935-8588.
Cautionary Language Concerning Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are not historical facts, but
instead represent only our current expectations and beliefs, and
therefore, contain risks and uncertainties about future events or
our future financial performance, including, but not limited to,
achieving revenue from bookings, closing business from the sales
pipeline, new customer deployments and maintaining these
relationships, the ability to reduce operating losses and use of
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including the risks outlined in our filings with the Securities and
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annual, periodic and current SEC reports. These factors may cause
our actual results to differ materially from any forward-looking
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press release, even though our situation may change in the
future.
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version on businesswire.com: https://www.businesswire.com/news/home/20190506005252/en/
MediaVeronika Clough+1 203 820
6061VeronikaClough@AmberRoad.com
Amber RoadAnnika Helmrich (US & Canada)+1 201 806
3656AnnikaHelmrich@AmberRoad.com
Martijn van Gils
(EMEA)+31858769534MartijnvanGils@AmberRoad.com
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