Siemens Healthineers AG chooses @GlobalTrade™ to digitize and optimize its trade finance operations

Siemens Healthineers was looking for a user-friendly, and intuitive application that offers various customization options as well as automation potential to drive their trade finance digitization and to better suit their specific business needs. All of those requirements were addressed by the @GlobalTrade™ platform.

GTC’s robust end-to-end solution helped Siemens Healthineers achieve tremendous process efficiencies with the banks owing to the SWIFT integration with the corporate’s SWIFT BIC. The implementation of the powerful SaaS solution enabled Siemens Healthineers to realize substantial cost and time savings and increase productivity due to simplification of the setup and shortening of processes as well as due to the replaced service and framework agreement with GTC. The team now enjoys a better user interface, user experience, standardization of processes, and full digitalization of their trade finance instruments. All manual interventions have now been replaced by the @GlobalTrade™ platform. System flexibility and simplicity, easy-to-fathom, intuitive knowledge resources, and diligent support from GTC aided in the quick onboarding and training of 900+ Healthineers users and this received much appreciation from the user community.

“Our search for an application for digitization of our guarantees and letters of credit gave us the opportunity to re-think on a greenfield basis all of our processes, and to focus on what is really needed for our Healthineers businesses and for more than 900 system users worldwide. With GTC, we were able to realize a solution that fits our business needs better and helps us tailor, automate and digitalize multiple cumbersome processing steps handled manually earlier. Team GTC always made sure to take the extra mile to facilitate perfect solution implementation and the positive response received from our users definitely speaks about the superiority of the @GlobalTrade^TM platform.”, said Milan Kalajdzic, Head of Trade Finance, Siemens Healthineers AG

“The introduction of a new Trade Finance solution utilizing the key expertise of GTC represents one of the first core components in our strategic Treasury digitalization roadmap at Healthineers. By leveraging internal synergy potentials through re-using strategic IT platforms, we contribute to building a Siemens Healthineers standalone treasury landscape, that enables efficient and at the same time secure and reliable operations.”, said Sven Eckert, Head of Treasury IT, Siemens Healthineers AG

“Digitizing trade finance operations of a large complex multinational company delivering both products and services requires flexible, functionally rich yet robust technology,” said Nick Pachnev, CEO of GlobalTrade Corporation. “@GlobalTrade™ is a solution that incorporates over 20 years of trade finance know-how from the leading manufacturing, engineering, trading, and service companies operating in various industries. This rich business functionality combined with our deep understanding of multinational needs and our industry-leading implementation approach allowed us to complete the project with the required customizations and go above and beyond for Siemens Healthineers’.”

About GlobalTrade Corporation:

GlobalTrade Corporation (GTC) pioneered multi-bank trade finance solutions for corporates. The company continues to lead the industry with developing ecosystems aimed at digitizing all stages of a trade finance transaction and connecting all transaction parties. The latest version of the company’s cloud solution includes features for establishing and managing relationships with banks and insurance companies, pricing of trade finance instruments, their issuance, and advice, post-issuance events, managing electronic documentation, and risk participation. Recognizing that trade finance is tightly connected to other areas inside and outside a corporate organization, GTC supports multiple interfaces and formats for sharing information with other internal corporate systems, such as ERP, financial reporting, cash management and payments, user management, as well as external platforms for connecting with banks and logistics providers. Taking the knowledge and expertise that GTC acquired from over 20 years of servicing MNCs, it created a streamlined version of its platform for SMEs that delivers major benefits of the enterprise version at a reduced cost and implementation effort.