Descartes Releases New Version of ISF "10+2" Solution as Penalty Deadline Nears
WATERLOO, Ontario, Oct. 28, 2009 (GLOBE NEWSWIRE) -- Descartes Systems Group (TSX:DSG) (Nasdaq:DSGX), a federated global network logistics solutions provider, announced the release of its latest Importer Security Filing (ISF) 10+2 compliance solution that helps customers be ready for the January 26, 2010 mandate date.
On November 25, 2008, U.S. Customs & Border Security (CBP) released a rule on importer security filings (ISF), also known as the 10+2 rule. As of January 26, 2010 the penalty phase will begin and organizations will face significant fines if they are not in compliance with the regulation. The ISF rule makes for a more complicated filing because it is a multi-party process that requires importers to provide CBP with 10 data elements about ocean shipments inbound to the U.S. at least 24 hours prior to vessel departure, and ocean carriers to provide 2 data messages at least 48 hours prior to vessel departure.
The latest release of the Descartes ISF service incorporates the recommendations of the Descartes 10+2 Readiness Program, the Descartes Customs Working Groups and the many Descartes customers already processes ISF filings. Enhancements include the addition of operational data elements that allow users to collect non-mandatory data elements within the ISF data entry functions; expanded filtering and searching capability and use of these operational data elements; extended e-alerts functionality for better exception monitoring; a new parts database (i.e. manufacturer or importer) to support Harmonized Tariff Schedule (HTS) classifications and updated user permissions among other things.
We committed to helping our customers be ready for new compliance regulations and avoiding penalties by providing advanced solutions that have been tested and proven prior to the government mandates, said Jonathan Wasserman, Senior Vice President, Global Trade Compliance Solutions at Descartes. We deliver applications that seamlessly integrate into our customers' business processes while maximizing the use of automated data capture throughout the shipment process. While Descartes' ISF services are quick to implement, we urge organizations to avoid waiting for the last minute to get ISF compliant as numerous companies scramble to meet the deadline.
The Descartes ISF service helps organizations manage an ever-increasing amount of legally required containerized shipment information in a small window of time. It helps shippers, carriers, intermediaries and customs brokers ensure compliance with CBP ISF programs, rapidly deploy standardized processes across an organization, leverage an organization's existing technology and data sources as well as provide a single point of contact for data connectivity.
For more information about ISF 10+2, join Descartes on upcoming web seminars on the topic on Thursday, November 5 at 11:00 am EST for Freight Forwarders and Customs Brokers and Friday, November 6 at 11:00am EST for Shippers and Importers. Register to hear the latest about the ISF 10+2 regulation, get detailed product information on the latest version of Descartes' ISF Service and how you can get started today. To register visit http://www.descartes.com/isf10+2 or email info@descartes.com.
About Descartes
Descartes (TSX:DSG) (Nasdaq:DSGX), is making the world a better place by enabling global organizations with logistics-intensive businesses to save money by improving the productivity and performance of their operations. Underlying Descartes' offerings is the Descartes Global Logistics Network (GLN), one of the world's most extensive multi-modal business applications network. As a federated platform, the Descartes GLN combines with component-based 'nano' sized applications to provide messaging services between logistics trading partners, shipment management services to help manage third party carriers and private fleet management services for organizations of all sizes. Descartes' solutions and services deliver results by enabling organizations around the world to reduce administrative costs, billing cycles, fleet size, contract carrier costs, and mileage driven; improve pickup and delivery reliability; and optimize working capital through fleet visibility. Descartes' hosted, transactional and packaged solutions deliver repeatable, measurable results and fast time-to-value. Descartes customers include an estimated 1,600 ground carriers and more than 90 airlines, 30 ocean carriers, 900 freight forwarders and third-party providers of logistics services, and hundreds of manufacturers, retailers, distributors, private fleet owners and regulatory agencies. The company has more than 450 employees and is based in Waterloo, Ontario, with operations in Atlanta, Pittsburgh, Ottawa, Montreal, Miami, Minneapolis, Washington DC, Derby, London, Stockholm, Shanghai, and Toronto. For more information, visit www.descartes.com.
The Descartes Systems Group logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4065
This release contains forward-looking information within the meaning of applicable securities laws (forward-looking statements) that relate to Descartes' solution offering and potential benefits derived therefrom; Descartes' ability to help customers comply with emerging compliance initiatives and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changes in the structure or deployment of compliance initiatives and the factors and assumptions discussed in the section entitled, Certain Factors That May Affect Future Results in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.
On November 25, 2008, U.S. Customs & Border Security (CBP) released a rule on importer security filings (ISF), also known as the 10+2 rule. As of January 26, 2010 the penalty phase will begin and organizations will face significant fines if they are not in compliance with the regulation. The ISF rule makes for a more complicated filing because it is a multi-party process that requires importers to provide CBP with 10 data elements about ocean shipments inbound to the U.S. at least 24 hours prior to vessel departure, and ocean carriers to provide 2 data messages at least 48 hours prior to vessel departure.
The latest release of the Descartes ISF service incorporates the recommendations of the Descartes 10+2 Readiness Program, the Descartes Customs Working Groups and the many Descartes customers already processes ISF filings. Enhancements include the addition of operational data elements that allow users to collect non-mandatory data elements within the ISF data entry functions; expanded filtering and searching capability and use of these operational data elements; extended e-alerts functionality for better exception monitoring; a new parts database (i.e. manufacturer or importer) to support Harmonized Tariff Schedule (HTS) classifications and updated user permissions among other things.
We committed to helping our customers be ready for new compliance regulations and avoiding penalties by providing advanced solutions that have been tested and proven prior to the government mandates, said Jonathan Wasserman, Senior Vice President, Global Trade Compliance Solutions at Descartes. We deliver applications that seamlessly integrate into our customers' business processes while maximizing the use of automated data capture throughout the shipment process. While Descartes' ISF services are quick to implement, we urge organizations to avoid waiting for the last minute to get ISF compliant as numerous companies scramble to meet the deadline.
The Descartes ISF service helps organizations manage an ever-increasing amount of legally required containerized shipment information in a small window of time. It helps shippers, carriers, intermediaries and customs brokers ensure compliance with CBP ISF programs, rapidly deploy standardized processes across an organization, leverage an organization's existing technology and data sources as well as provide a single point of contact for data connectivity.
For more information about ISF 10+2, join Descartes on upcoming web seminars on the topic on Thursday, November 5 at 11:00 am EST for Freight Forwarders and Customs Brokers and Friday, November 6 at 11:00am EST for Shippers and Importers. Register to hear the latest about the ISF 10+2 regulation, get detailed product information on the latest version of Descartes' ISF Service and how you can get started today. To register visit http://www.descartes.com/isf10+2 or email info@descartes.com.
About Descartes
Descartes (TSX:DSG) (Nasdaq:DSGX), is making the world a better place by enabling global organizations with logistics-intensive businesses to save money by improving the productivity and performance of their operations. Underlying Descartes' offerings is the Descartes Global Logistics Network (GLN), one of the world's most extensive multi-modal business applications network. As a federated platform, the Descartes GLN combines with component-based 'nano' sized applications to provide messaging services between logistics trading partners, shipment management services to help manage third party carriers and private fleet management services for organizations of all sizes. Descartes' solutions and services deliver results by enabling organizations around the world to reduce administrative costs, billing cycles, fleet size, contract carrier costs, and mileage driven; improve pickup and delivery reliability; and optimize working capital through fleet visibility. Descartes' hosted, transactional and packaged solutions deliver repeatable, measurable results and fast time-to-value. Descartes customers include an estimated 1,600 ground carriers and more than 90 airlines, 30 ocean carriers, 900 freight forwarders and third-party providers of logistics services, and hundreds of manufacturers, retailers, distributors, private fleet owners and regulatory agencies. The company has more than 450 employees and is based in Waterloo, Ontario, with operations in Atlanta, Pittsburgh, Ottawa, Montreal, Miami, Minneapolis, Washington DC, Derby, London, Stockholm, Shanghai, and Toronto. For more information, visit www.descartes.com.
The Descartes Systems Group logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4065
This release contains forward-looking information within the meaning of applicable securities laws (forward-looking statements) that relate to Descartes' solution offering and potential benefits derived therefrom; Descartes' ability to help customers comply with emerging compliance initiatives and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changes in the structure or deployment of compliance initiatives and the factors and assumptions discussed in the section entitled, Certain Factors That May Affect Future Results in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.