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Case Study: Razor Global Payment Collections

Global Payment Collection Made Easy

Executive Summary:
Since 2007, Trade Technologies has provided unique and cost effective business process outsourced services and cutting-edge technology to enable Razor USA to digitally bill, and securely collect, international receivables.

Trade Technologies manages the entire document supply chain from Razor’s suppliers to its buyers under letters of credit, direct import, collections and open account transactions. Trade Technologies has reduced Razor’s risk and transaction costs while accelerating collections and providing visibility, predictability and control to a complex financial supply chain.

Razor is a leading global provider of scooters and wheeled sporting goods. Razor sells its products globally under a variety of payment structures including open account, retailer direct import, direct collections and traditional letters of credit.

In most cases, Razor is sourcing its products from one or more third party suppliers across Asia. These suppliers are shipping final products directly to Razor’s retailers and other buyers in 26 countries. Each of these buyers has its own unique document and other requirements for import and payment purposes. Supplier documents need to be collected and delivered to Razor, replaced with compliant Razor documents that can be securely and quickly sent to buyers or banks for payment. This complex process is usually fraught with inefficiencies, errors, paper documents and unpredictable delays in payment.

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Trade Technologies has offices in Atlanta, Austin, Boston, Chicago, Hong Kong, Houston, Istanbul, London, Los Angeles, Mumbai, New York, San Francisco, and Singapore.

About Trade Technologies

Founded in 1999, Trade Technologies (www.tradetechnologies.com) is the largest global provider of trade document services and software. From its offices in Asia, Europe and North America, Trade Technologies provides leading exporters, freight forwarders and international trade banks with trade document solutions, training and consulting.

The Company’s web-based TradeSharp platform and outsourced services enable customers to streamline their operations, save money, accelerate payments, and eliminate discrepancies traditionally involved in international letter of credit, documentary collections and open account transactions. More than 1,500 exporters, global trade banks and freight forwarders depend on Trade Technologies’ services to process almost $10 billion in international trade transactions each year. Globally, Trade Technologies is presenting original letter of credit and other trade documents online to 66 examination offices of 24 banks in 13 countries.

Trade Technologies was named by Silicon Review as one of the “50 Smartest Companies of the Year 2016.” In 2015, Trade Technologies was awarded the Presidential “E” Star Award for Export Services by the U.S. Department of Commerce and was selected by CIO Review Magazine for its annual list of the 20 Most Promising Banking Technology Solution Providers. Trade Technologies was voted the “Best Trade Tech Solutions Company” in 2012 by readers of Trade Finance Magazine. In 2011, Trade Technologies won the Presidential “E” Award for Exports through the U.S. Department of Commerce, the highest recognition any U.S. entity may receive for supporting export growth. In 2010, the Company was awarded a patent on the TradeSharp software platform and process.