ValiCert has been selected by ABN Amro to establish the security infrastructure for its next-generation trade finance solution AllTrade, which is scheduled for launch later this year.
The Dutch bank is to use ValiCert's Document Authority and SecureTransport products to provide a secure environment for the storage and exchange of import/export documents. ValiCert also helped to ensure that the AllTrade platform is Identrus-enabled, allowing companies in need of industrial strength security to integrate it into their supply chain management processes.
AllTrade is designed to bring significant reduction in processing times and ordering/fulfillment costs to importers and exporters. The Internet-based system facilitates both open account and credit-enhanced cross-border trade through a single platform, making it possible for companies to consolidate trading activities and increase global supply chain savings.
Kristen Fletcher, managing director of ABN AMRO's global trade and advisory business unit, says: "The Internet is the perfect medium for the rapid deployment of products such as AllTrade."
Importers who use the system will have access to more efficient purchase order management, automated invoice reconciliation, integrated settlement and detailed reporting, says Fletcher.
Exporters will be able to significantly reduce Days Sales Outstanding (DSO) on their cross-border sales as digital compliance data replaces traditional paper-based processes, she adds.
Sathvik Krishnamurthy, vice president of marketing for ValiCert, says: "ValiCert Document Authority and SecureTransport will provide ABN Amro's customers with access to legal-grade document sharing, storage and exchange, as well as secure automated document processing."