Leader for International Trade Document Solutions Reports 2021 Results
AUSTIN, TX – Trade Technologies, the global leader for international trade document solutions, announced today that during 2021, its TradeSharp Platform was used to successfully process over 60,000 letter of credit, documentary collection and open account trade transactions with a total value of over USD13 billion. In total, Trade Technologies has enabled over 530,000 international trade transactions with a value of almost USD130 billion since 2003.
Importantly, 53% of all transactions in 2021 were securely presented to banks or buyers online via TradeSharp. Trade Technologies has been presenting original trade documents digitally to trade banks and buyers since 2003. Online presentations reduce risk, payment times, and overall costs. Furthermore, the electronic delivery of over 32,000 sets of trade documents during 2021 reduced carbon emissions by eliminating the need for domestic and international courier packages.
Trade Technologies added over 120 new customers in 2021 and opened three new Operations offices globally. With their latest offices in Foshan, Kuala Lumpur, and Dubai, Trade Technologies is now home to over 75 trade professionals in seventeen operations offices across nine countries.
During 2021, Trade Technologies also extended its TradeBridge connectivity and data exchange product suite. TradeBridge automates the delivery of data and document images from letter of credit and documentary collections presentations directly to the back-office systems of major trade banks. This automation eliminates the need for banks to engage in manual data extraction and scanning of paper documents.
TradeBridge has been in live production since 2020 and is proven to reduce the time and cost for banks to process traditional trade finance transactions. During 2021, TradeBridge was used to automate the delivery of data and images for over 6,000 export transactions on behalf of over 150 beneficiaries. TradeBridge also supports the automatic delivery of transaction data and documents to TradeSharp from exporters and banks. For 2022, Trade Technologies will further enhance the value and accessibility of the TradeBridge product by providing publicly available APIs for exporters and banks.
“Despite the pandemic, supply chain issues and a host of other challenges, 2021 was a very successful year for Trade Technologies as we grew our customer base, global footprint and technology portfolio,” said Kirk Lundburg, CEO of Trade Technologies. “Our exporter and bank customers relied on our global team of trade professionals and our proprietary TradeSharp Platform to complete a record number and dollar value of transactions.”
Trade Technologies provides the world’s leading trade document software and services from its offices in Atlanta, Austin, Boston, Chicago, Dubai, Foshan, Hong Kong, Houston, Istanbul, Kuala Lumpur, London, Los Angeles, Mumbai, New York, San Francisco, Singapore, and Stuttgart.
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, the Middle East 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 Trade Document 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 over USD13 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.
Anija Obmann - Press & Media