OAKLAND, CA – September 15, 2009 – GT Nexus today announced that several new capabilities, including scan and pack label creation, purchase order management, and supply chain finance management, are now available for suppliers on the Global Trade and Logistics Portal. Delivered via the software as a service (SaaS) model, the capabilities allow suppliers to take advantage of the already-built data network that connects GT Nexus’ large importer customers and more than 7,500 supplier organizations, from over 85 countries around the world.
Global importers, their suppliers, logistics providers, and financial institutions already use the GT Nexus Portal to manage their physical and financial supply chains. The Portal serves as a central trade and logistics hub collecting information; from the moment purchase orders are cut, through logistics delivery, to final payment. Now, suppliers can drive greater value into their own operations by using the same system to manage their multiple customer orders, print compliant packing labels, and gain access to new financing mechanisms.
“GT Nexus is our platform for global PO distribution and supplier collaboration," said Bob Tway, senior director of supply chain at Cost Plus World Market. "The tools and services provided by GT Nexus have helped our partners be more compliant with our import documentation needs. At the same time, we have been able to improve our supplier performance through better communication and documentation management.”
“Over the past several years, our large importer customers have been collaborating with their suppliers on the GT Nexus Portal as part of their global supply chain visibility initiatives,” said Greg Johnsen, EVP of marketing at GT Nexus. “That network of suppliers has grown to thousands of companies. These new services give the supplier community the option to extend into very strategic areas of automation that will help them reduce their costs and provide better customer service.”
The growth in the number of suppliers on the GT Nexus Portal has been driven by the large importers, who have adopted the system to automate their purchase-to-pay process with supplier partners around the world. Beginning with the receipt of digitized purchase orders, suppliers use a core set of data on GT Nexus to create trade documents like packing lists and commercial invoices, which can then be used for different credit and payment programs with trade banks.
The enhanced supplier-facing capabilities include the following:
Order Management – to retrieve customer orders, track changes, and provide customers with work-in-progress reporting.
Order to Cash – to automate invoice creation, presentment, and payment approval.
Supply Chain Finance – to provide suppliers and banks with an automated open account supply chain financing platform.
Scan and Pack – to easily create compliant packing labels, created directly from the order and shipment data.
All GT Nexus services are delivered on-demand, over the Web. GT Nexus blends an integrated network of trade partners with data quality services and business applications and delivers everything through a single Web portal. All customers and their partners share the same network and infrastructure, which benefits the entire community through cost amortization and faster solution activations.
ABOUT GT NEXUS
GT Nexus runs the world's only industry-backed, on-demand global trade and logistics portal. Today, more than 40,000 registered users, from over 15,000 organizations use a range of capabilities on the portal to optimize the global flow of goods and trade information from order point to final payment. GT Nexus connects the physical and financial supply chains. This allows buyers, sellers, banks and logistics providers to work over a common platform with a core set of information that supports multiple trade and logistics functions. Customers include Nestlé, Xerox, American Eagle Outfitters, Procter & Gamble, Weyerhaeuser and The Home Depot. For information, visit www.gtnexus.com.