Technology Services Company Improves Trade Compliance with Comprehensive Screening of Restricted Parties
EAST RUTHERFORD, NJ, November 5, 2009 -- Management Dynamics, a leading provider of Global Trade Management (GTM) solutions, today announced that Communications Test Design, Inc (CTDI), a full service global engineering, repair and logistics company, implemented its RPS On-Demand solution, an advanced risk management solution that screens individuals and businesses to identify prohibited transactions based upon over 90 restricted party lists.
Since automating restricted party screening, CTDI has significantly reduced corporate risk and improved compliance with global trade and security regulations while minimizing time and resources required for screening.
Providing repair and logistics services for major Telecom and Cable service providers and OEMs, CTDI also provides the service of screening shipments for many of its customers. CTDI needed to streamline its screening process across multiple order management systems and 25 locations. The company selected Management Dynamics’ RPS On-Demand solution for its functionality, ease of use, and ability to centralize its compliance with multi-org and team-based workflow to enable its global branches to easily manage their own customer shipments.
"We needed to prevent any illegal transactions with restricted entities or trade parties and avoid potential fines and penalties for CTDI and its telecom customers. We had previously relied on a fragmented, incomplete process," said Greg Pugh, Global Compliance Manager, CTDI. "Management Dynamics provided the best value and came highly recommended by many authorities in the trade industry. It was also very important that the screening did not create a cumbersome distraction during high volume shipping processes. Since using the RPS On-Demand solution, we have significantly reduced our corporate risk, liability and exposure to prohibited transactions."
Available on a flexible, on-demand architecture, Management Dynamics’ RPS On-Demand solution addressed CTDI’s needs with a secure, comprehensive method to automate screening of its customers, vendors, and other trading partners against all restricted party lists from governmental institutions worldwide. With improved screening algorithms based on computational linguistics, RPS On-Demand delivers at least a 30 percent improvement in screening accuracy with a 70 percent reduction in false positives over traditional methods. The Web-based solution integrates with any enterprise system and can be quickly and cost-effectively implemented.
"Today, exporters are held to a higher level of accountability to meet government mandates than ever before," said Jim Preuninger, CEO of Management Dynamics. "CTDI uses our RPS On-Demand solution to centralize and streamline its compliance process to improve productivity and effectively manage supply chain risk."
About Management Dynamics, Inc.
Management Dynamics is a leading provider of global trade management solutions that improve the performance of global supply chains for importers, exporters, logistics service providers, and carriers. The company's solutions synchronize the flow of information among trading partners, optimize supply chain execution decisions, and streamline import and export processes to ensure regulatory compliance and minimize cost and risk involved in cross-border transactions. Management Dynamics’ time-proven solutions are used by more than 13,000 global users at some of the world's most successful 3PLs, carriers, manufacturers, retailers, and high technology companies. For more information, please visit www.ManagementDynamics.com or call (201) 935-8588.
A premier Telecommunications service company headquartered in West Chester, PA., CTDI has provided groundbreaking maintenance and product service solutions to the global telecommunications industry since 1975. Today, CTDI offers the most comprehensive Service Portfolio in the industry that includes: Wireline Repair & Logistics, Wireless Repair & Logistics, Engineering and Installation services, Global Supply Chain solutions and Product Engineering and Manufacturing. Today, CTDI services Original Equipment Manufacturers (OEM) and Carriers with 42 international strategic repair and logistics locations supported by an experienced team of over 4,500 telecommunications professionals. For more information, visit www.ctdi.com.