Toronto, Canada, September 2, 2022 – GlobalTrade Corporation (GTC) has announced today that Alstom, the leading global innovative player for a sustainable and smart mobility, selected @GlobalTrade™ Platform to replace its internal system and improve efficiency and controls of its trade finance operations. Alstom will use the Platform to reduce operating costs by improving reporting and management oversight capabilities.
For many years Alstom had been managing guarantees using its own internal system. Even though it is a very robust and comprehensive tool, Alstom decided to look for an agile solution offering more flexibility, functionality and support of the best market practices. Alstom also wanted to work with an experienced technology partner that can help streamline and digitalize their business and bank communication processes including integration with existing systems’ APIs.
Christine Dross, Bonds & Guarantees Director, Alstom said, ‘With the @GlobalTrade™ Platform, Alstom will optimize the transaction cycle and turnaround time, and achieve effortless multi-channel SWIFT-compliant connectivity, with its global network of financial institutions. The Platform will be a one-stop solution for recording, tracking, and viewing guarantee instruments and their life-cycle changes. It will simplify the communication and significantly minimize the risk of data inconsistencies with financial institutions. Proven data migration approach for historical transactions and tight integration with other Alstom systems are other factors that were critical in our decision to implement GTC’s solution.’
Stephen Andersen, COO, GTC said, ‘We are proud to provide Alstom with our @GlobalTrade™ Guarantee Issuance solution. The integration capabilities of our solution with downstream and upstream applications and ERP systems of Alstom will greatly enhance efficiency, reduce costs, and will meet its business objectives.’
About GlobalTrade Corporation
GTC is a software developer and application service provider whose product solutions improve the world of trade finance and trade services. The @GlobalTrade™ solutions help buyers, sellers, traders, and financial institutions communicate faster and more efficiently while reducing risk and improving monitoring and control. GTC continues to lead the industry by 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 financial institutions, 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 financial institutions and logistics providers. For more information, please visit www.globaltradecorp.com