Global Trade Management Software (GTM) solutions and services streamline the entire global trade lifecycle to optimize the process of trade finance, compliance, supply chain visibility, and import/export documentation and licensing. GTM has evolved as an automated solution that facilitates organizations to manage cross-border trades.Furthermore, the solution provides a platform to track and monitor shipments, and also enables information exchange with vendors and other supply chain partners. Moreover, the solution mitigates or reduces the risks related to rules and regulations on the international trade, laid by authorities of different countries.

Top 10 Global Trade Management Platforms

  1. E2Open
  2. Oracle
  3. Zonos
  4. Shipsy
  5. Infor
  6. Thomson Reuters
  7. Bamboo Rose
  8. Importkey
  9. PartnerLinQ
  10. Aptean

Top Features of GTM software

Even for experienced importers and exporters, understanding the essential functionality your global trade management solution needs to have is a challenge. Here are 10 must-have features to perform successfully in today's fast-paced economy and trade consistently:

  1. Centralized Database
  2. One-Time Data Entry
  3. Complete Compliance Functionality
  4. Landed Cost Calculation
  5. Maximum Automation
  6. Configurability and Scalability
  7. Ease of Integration
  8. Product traceability
  9. Shipment tracking
  10. Inventory Management

Top Benefits of Global Trade Management Software

Some of GTM's most obvious benefits for import and export enterprises are as follows:

  1. Scanning of rejected Client lists
  2. Maintaining categories on exports
  3. Managing sales licenses
  4. Carrying out embargo searches
  5. Sending communications electronically to customs
  6. The administration of classification codes
  7. Producing documentation about imports
  8. Calculating cost of landing
  9. Ensuring controls on imports

COMPETITIVE LEADERSHIP MAPPING TERMINOLOGY

The DIVE chart highlights the top vendors in the Global Trade Management Software market. The vendor DIVE provides information about the major players, who offer GTM solutions and services, and outlines the findings and analysis on how well each market vendor performs within our criteria. The vendor evaluations are based on 2 broad categories - product offerings and business strategies. Each category carries various criteria, based on which, the vendors were evaluated. The evaluation criteria considered under product offerings includes breadth of offerings, delivery (based on industries that the vendors cater to, deployment models, and subscriptions), and support (based on pre- and post-sales support services). The evaluation criteria considered under business strategies includes the reach (on the basis of geographic presence), industry coverage (on the basis of end-users that the vendors cater to), and inorganic growth (on the basis of partnerships, collaborations, and acquisitions).

VISIONARY LEADERS

E2Open, Zonos, Oracle, Thomson Reuters, and Infor are the leading players in the GTM solutions and services segments and have been recognized as visionary leaders. They have a strong portfolio of GTM solutions or platform and associated services. These vendors have marked their presence by offering solutions and services that are required by most organizations. They also have robust business strategies to achieve continued growth in the Global Trade Management Software (GTM) market.

DYNAMIC DIFFERENTIATORS

Blue Yonder, Importkey, and BluJay Solutions have been categorized under the dynamic players. They have strong business strategies with extensive channel network and reach. Over the years, these dynamic players have been consistently generating a positive revenue growth in the Global Trade Management Software market with their given set of product offerings. Their market positions have been enhanced by organic and inorganic strategies over the period.

INNOVATORS

Shipsy, Bamboo Rose, PartnerLinQ, DiMuto, Panjiva, and Aptean have been recognized as innovators. They have a wide portfolio of GTM solutions and services, and a strong potential to build strong business strategies for their business growth to be at par with the vanguards. These vendors have been providing GTM offerings as per their customer’s demands. These innovators have been at the forefront in deploying their solutions for niche and custom requests made by their clients.

EMERGING COMPANIES

Freightgate, Centrade, Acuitive Solutions, and ClearTrack have been recognized as emerging players in the Global Trade Management Software market. The emerging players are specialized in offering highly niche and tailor-made solutions and services to their clients.

Major Solutions Covered in the Analysis 
GTM solutions are gaining popularity with increasing cross-border sales across all the major verticals, such as aerospace and defense, healthcare, manufacturing, consumer goods and retail, and government and public. One of the main reasons for the growth of GTM solutions is the rising challenge faced by enterprises to manage their complex trade processes. Different countries have laid down different rules and regulations on the international trade, thus increasing the pressure on businesses. GTM solutions are convenient to manage and ensure enterprises optimize their trade process and comply with the changing rules and regulations about the trade.

TRADE FUNCTION

The trade function solution involves functions related to managing vendors and import/export processes, such as licensing and documentation. Furthermore, global sourcing is another function that is required to simplify the supplier selection process

IMPORT/EXPORT MANAGEMENT

Considering the increasing cross-border sales, managing the import/export activities has become a priority for businesses. Import/export activities come along with certain challenges, such as calculating variable duties, and taxes and fees. Managing imports/exports activities manually are prone to errors. Therefore, the centralized management of import/export activities through dedicated solutions reduces the time and chances of errors.

VENDOR MANAGEMENT

Enterprises have been emphasizing on building a strong partner network across the world, in order to optimize and support its businesses. For instance, a retail company has suppliers/partners spread across different regions. Keeping track of these suppliers is vital to compete in the intense competition. Vendor management solution offers a platform to track suppliers across regions, thus facilitating the supplier selection for enterprises.

TRADE COMPLIANCE

The trade compliance solution provides different functionalities for trades or enterprise users to understand the rules and regulations laid by authorities in different countries, across regions. The trade compliance solution is further categorized into duty management, and risk and quality management.

DUTY MANAGEMENT

Duty management streamlines the administration process related to the international trade. It also automates the administration process. Furthermore, duty management solutions enable companies to increase their profitability by optimizing and minimizing the duties related to international trade.

RISK AND QUALITY MANAGEMENT

The risk and quality management solution ensures product quality as per the standards, in order to comply with regulations laid by the authorities of different countries. Maintaining the product quality is of utmost importance for businesses in order to reduce the risk of penalties. Furthermore, the brand reputation might be at stake due to shipment of faulty or low-quality products to other countries.

SUPPLY CHAIN VISIBILITY

The supply chain visibility solution involves real-time tracking and monitoring of shipments. The global trade involves multiple suppliers and trading partners, thus creating complexities in managing the entire network. Vendors find it difficult to manage and monitor the entire supply chain and trade process of the trading partners from different regions. Moreover, the collaboration between trading partners is of major importance, as vendors are keen to explore new avenues in the intense competition. The supply chain visibility solution has gained traction in the recent past due to supply chain complexity, the need to track and monitor shipments in real-time, the increasing pressure to optimize the trade process, and the increase in global trade volume.

TRADE FINANCE

The trade finance solution facilitates businesses with invoice management, insurance, and trade financing. The trade finance solution simplifies the process of understanding and calculating claims, damages, and settlements. Trade finance has been further divided into insurance management, invoice management, and others.

INSURANCE MANAGEMENT

Businesses operating in the global trade deal with the insurance of goods that is exported or imported, considering the high cost of goods and trade processes. Managing the insurance and claims plays a vital role in the global trade operations, as a significant value of goods are at stake.

INVOICE MANAGEMENT

The global trade involves international financial transactions. The invoice management solution simplifies and automates the process of creating and managing custom and commercial invoices. Invoice management creates an efficient solution to display invoices to the finance auditing teams.

Frequently Asked Questions

  • What are the key drivers and opportunities for Global Trade Management Software market?
    The key drivers such as increasing complexities in global trade, changing government rules and regulations pertaining to foreign trade, increasing transportation costs, and increasing investment in global logistics infrastructure are responsible for the growth of the global market. The top opportunities include: Advanced features to link with existing corporate systems and SaaS Model for global trade management
  • What are the key features of Global Trade Management Software and where it is used?
    Global trade management solutions offer advantage to organizations to, manage trade efficiently across various regions. Global trade management solutions are being used across several industry verticals such as transportation and logistics, government and public, healthcare and life sciences, aerospace and defense, manufacturing, consumer goods and retail, energy and utilities.
  • How does the market estimate for Global Trade Management looks like in coming years?
    The global trade management market is expected to grow from USD 645.2 million in 2017 to USD 1,034.2 million by 2022, at a Compound Annual Growth Rate (CAGR) of 9.9%.
  • Who are the key target audience for GTM software?
    The target audience are: Enterprise users, Trade organizations, Government agencies, Industrial users, Freight forwarders, Global trade management vendors.
  • What are new solutions which the global trade management companies are exploring?
    GTM solutions address the requirements of logistics management, regulatory compliance, import and export processes, and financial information of an organization. These solutions streamline and automate business processes and enable businesses to determine the total landed cost. The implementation of trade management solution helps increase productivity, allows real-time access to different supply chain components, and increases visibility across the entire organization
  • Which are the key players in the market and how intense is the competition?
    The major vendors that offer global trade management solutions and services across the globe are Amber Road, Inc. (US), Aptean (US), Descartes (Canada), SAP SE (Germany), Integration Point, Inc. (US), Oracle (US), Precision Software (US), QuestaWeb, Inc. (US), Livingston International (Canada), MIQ Logistics (US), Thomson Reuters (US), and MIC Customs Solutions (Austria). These vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions to expand their offerings in the global trade management market.

Best Global Trade Management Software

Comparing 37 vendors in Global Trade Management Software across 201 criteria.
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E2open is unique with its harmonized collaborative platform bringing all users of the ecosystem together in a closed-loop. It also offers an advantage by integrating best-in-class applications and embedded artificial intelligence. E2open also allows connecting with all supply chain partners, including manufacturers, suppliers, customers, and others.
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Oracle Global Trade Management Software empowers client with cloud services to classify products and manage the export compliance effectively. It also offers client a single platform to manage the clients entire trade activities, including logistics, customs, and cross-border compliances. Furthermore, Oracle Global Trade Management Cloud empowers clients by enabling them to maximize the value and minimize the risk throughout the entire supply chain.
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Zonos offers a SaaS model platform that lets users sell internationally with absolute transparency. It provides the user an advantage of easily calculating taxes, duties, and other fees without having to waste time on manual quotations. It would also offer automated API and plugins for immediate calculations of taxes and other fees during the time of checkout.
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Shipsy’s multifaceted value capture for end customers is what makes Shipsy unique, it has modules like cost avoidance, cost reduction, enhanced visibility, and smart rate procurement that binds it together and which adds value for customers. Instead of visiting various portals, all the information is displayed on a single dashboard which acts as a single source of truth. It is accessible to all the involved departments and individuals keeping everyone in a closed loop. The software has defined thresholds which if breached sends alerts to the concerned parties.
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Infor Nexus is a cloud-based unified platform built for the entire multi-enterprise supply chain operations including suppliers, manufacturers, brokers, 3PLs, and banks. The platform combines advanced planning, execution and provide businesses the financial capabilities to intelligently sense and respond to the everyday supply chain activities in real-time.
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The Global Trade Management suite by Thomson Reuters comes with various software dedicated to individuals tasks and automate the process in order to increase the efficiency and reduce the human efforts. Some of the software are – Global Trade Classifier, Export Management, Import Management, Denied Party Screening, Trade Analysis, Supply Chain Compliance and many more. This suite simplify entire global trade management process with trade compliance information and facilitation tools.

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Bamboo Rose has an excellent feature that makes it unique, it helps to keep up the quality of the product by continuous alert feature if QC issue arises. It also improves product lead time by almost 20% to meet the KPIs. They also perform scheduled factory audits and inspections so that they can manage social and ethical compliances. 
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ImportKey is a US trade data platform help you to gain a comprehensive understanding of a company's operating activities by using visual graphs of supply chain process and its rising trends in the marketplace. With ImportKey, you can instantly access US import and US trade data records of millions of companies within minutes. This data-driven software help you to understand the public companies’ operating activities.

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PartnerLinQ offers multi-channel integration, this feature lets you expand your business by seamlessly integrating with a digital marketplace, B2B portals, e-commerce platforms, social channels, and others. It also offers strong analytical capabilities helping all the stakeholders involved in making informed decisions.
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Apteans solution, TradeBeam GTM, ensures the protection of organizations from loss, pertaining to trade privileges, fines, and prosecutions. TradeBeam GTM facilitates the streamlining of trading processes on the SaaS platform. It is delivered on a highly secure, multi-tenant cloud-based platform. Apteans supply chain solutions ensure the management of every aspect of the supply chain, including inventory, suppliers, delivery times, transportation partners, customer service, and the global competition. The companys Supply Chain Management (SCM) solutions provide a competitive advantage to clients by automating the processes and offering the clients with visibility for every supply chain process, in order to identify and respond to fluctuations.
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DiMuto will tag your products and digitalize them into trackable digital assets using a feature called DiMuto Digital Asset Creation. They have an excellent blockchain system that helps in the verification of documents with immutable stamps and unique identifiers. DiMuto will offer great help in taking care of customers by offering tools to create awareness among them as well as retaining them.
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BluJay Global Trade Network version 19.0.0 delivers expanded multimodal capabilities, new integrations, and additional countries and languages to help companies manage trade and the movement of goods around the world. BluJay’s cloud-based technology platform delivers an ecosystem of supply chain applications powered by its Global Trade Network (GTN).

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Centrade is a cloud-based platform that centralizes all facets of your supply chain business. It binds them together in one single platform offering transparency. Centrade also enhances customer relationships by improving on-time delivery rates, replenishing inventories, and other features.
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Acuitive offers features such as most flexibility will let users use the highly configurable platform so that users can easily program a wide range of different scenarios. They will also offer very agile freight ability that makes it easy to adapt to the business in real-time. 
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AEB offers the following features which in turn makes it unique, such as Custom Broker Integration as in a few countries’ brokers are an important element for the smooth customs clearance process. It is also capable of finding out if your company can take advantage of the specific preferential agreement. It continuously updates if any new agreement would come to force. 
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TechnoGen offers an end-to-end IT and subsequent services for specific needs of businesses right from the hardware assistance to network security management to custom-made software solutions. CommodityPro is an enterprise risk management platform developed by TechnoGen. CommodityPro is mainly focuses on commodity trading and risk factors across various areas of businesses.

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Decartes offers better lead generation by pinpointing new opportunities to maximize profits is one of the features which makes Decartes unique. Another feature that gives Descartes a competitive advantage is its data and research tools which lets you benchmark performance against competitors and gives valuable market insights. 

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Effivity's cloud-based trading management system - MyEasyTrade is a comprehensive solution for all trading management problems. MyEasyTrade allows enterprises manage trading with the greatest ease by providing features such as - Order Management, Supply Chain, Logistics Management, Business Intelligence, and Accounting & Documentation.

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EDI Solutions from enVista provide EDI Software and Advanced Trading Partner Management for Omni-Channel Brands the ability to seamlessly exchange data with trading partners and across the retail network. They decrease invoice processing costs, advance customer service, and enable progressive trading partner management.

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The Trade Management program from FARROW provides clients a real experience of the customs department. The client has the advantage of highly trained and experienced professionals managing the complete process right from procurement to the payment. The platform provides a comprehensive approach to routine customs activities.

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Integration Point offers Global Trade Management software to its client as a single integrated platform that can manage the entire operations, pertaining to supply chain and global trade. The companys solutions facilitate clients by providing several benefits, such as opportunities for savings, automation of compliance processes, and improved visibility across the supply chain. The solutions offer a competitive edge using the companys highly secure and scalable architecture platform.
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Duty and TaxRecovery is what makes Livingston special and differentiates it from its competitors. Duty Drawback is a feature that informs users if they are eligible to file a drawback claim. It also stops companies that accidentally keep on overpaying duties saving them lots of money. It would also work upon and try to recover overpaid tax in past. 
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MIC offers competitive edge through its country specific solutions that caters regional and national requirements of clients. The companys solutions offers client advantage of transparency and cost savings across entire supply chain. The solutions follows customs and trade compliance essential for client to remain competitive in global market. The solutions can be deployed on-premise or can be availed as software-as-a-service. Moreover, MIC offers expertise in product implementation and integration with clients existing systems.
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MIQ Logistics offers solutions with the web-native technology to empower clients with enhanced transportation networks and efficient supply chain. MIQ Logistics GTM solution ensures regulatory compliances while offering several advantages to clients, including mitigations of supply chain disruption and the capability to take informed decisions about sourcing and transportation. The companys solutions help clients in gaining better control of their shipments, thereby helping them increase the performance of supply chain and achieving savings, pertaining to supply chain.
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OCR is the leading provider of global trade management software and solutions for a diverse range of industry verticals. OCR’s Global Trade Management Software is implemented by industry leaders to facilitate their import/export processes. The OCR Import Export Compliance software certifies that supply chain processes follow customs compliance as well as other regulations levied by government organizations.

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Precision Software is not limited to just one or two features, what makes it unique is the wide spectrum of possibilities that would lead you to run your business smoothly. It offers Free Trade Agreements which custom compliance solutions helping manufacturers as well as importers. Apart from this, it also offers transportation analytics on a single dashboard and offers carrier tracers for lost and damaged shipments.
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PRECISION Global Trade Management software offers a competitive advantage to its clients through its innovative products and services, which empower them to reduce transportation costs, avoid delays at trans-border crossings, and helps them mitigate the risks related to the dynamic global trading environment. Precisions services assures clients with on-time deployment and helps them maximize benefits through efficient implementation of its solutions.
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The Global Trade Management Solution provided by PUREDOT is acknowledged worldwide for enhanced and smooth trade between two countries. The solution provides expertise in export and import management along with supply chain solutions. The client is given the benefit of exporting as low a quantity as 100 pcs,  which is a highlighted feature of this solution.

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SAP Global Trade Services (GTS) offers competitive advantage to its clients by boosting the productivity of business processes through automation of compliance tasks, compliance check in real-time, validations of order with regulations, and reduction of costs related to global trade duties, taxes, and compliances. SAP GTS can be easily integrated with the supply chain systems of an organization. SAP Global Trade Management Software offers a cloud platform for the SAP GTS, which helps clients with reduction in the total cost of ownership and maintenance.
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Softlink develops advanced and superior technology products & solutions for clientele in the logistics, freight forwarding, warehouse, transport, customs, and supply chain businesses. The company has enabled restructuring operations of the global logistics & freight forwarding industry by helping them to overcome commercial trials and accomplish growth. It offers various products such as Logi Sys, Logi Sys Pro, Live Impex, and Visual Impex to cater solutions to various industries.

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Optimize your Global Trade Management business with Shipsy

Wondering how it can help your organizations? Here you will find the reasons why you should go for Shipsy to optimize your Global trade management business.