Aware of the increasing complexities of running an international supply chain, a growing number of companies are turning to global trade management (GTM) solutions to streamline and automate processes related to customs and regulatory compliance, global logistics, and trade financing.
A new study by International Data Corporation (IDC) provides a comparative assessment of five of the leading GTM vendors including Amber Road, GT Nexus, Integration Point, Oracle, and SAP. This evaluation is based on a comprehensive framework and set of parameters expected to be most conducive to success in providing GTM capability both in the short term and in the long term.
“Global trade management is a hot area for both manufacturers and retailers,” says Simon Ellis, Global Practice Director for IDC’s Supply Chain Strategies Practice. “This is driven, in the main, by companies finding that the ad hoc, often manual, approaches to trade management simply don’t serve them well in a market that is globalizing quickly, with correspondingly significant regulatory obligations.”
A key finding of the report is that there are more similarities by sub-industry than there are differences, but as manufacturers and retailers evaluate different applications, it can be useful to understand where a particular vendor has direct sub-industry experience, partially for things like item classification and customs and regulatory compliance.
The report’s criteria selection, weightings, and vendor scores are based on structured discussions, surveys, and interviews with market leaders, participants and end users. Market weightings are based on user interviews, buyer surveys and the input of a review board of IDC experts in each market.
Although the report may well be a useful evaluation tool for companies that are looking at the GTM space, with a rather hefty price tag of $15,000, the Worldwide Global Trade Management 2014 Vendor Assessment does not come cheap.