Trade Technologies buys International Document Control
12 December 2007 | 1595 views | 0
Source: Trade Technologies
Trade Technologies, a firm that is revolutionizing international trade with industry-leading technology and outsourced services for overseas payments, is pleased to announce its acquisition of International Document Control Company Ltd. (IDC), the leading provider of letter of credit documentation in the New York area.
The acquisition gives IDC and its experts in international letters of credit access to Trade Technologies' powerful Internet-based Global Trade Management Platform and its network of the world's leading international trade banks.
"We are extremely pleased to have Barbara Trupkin and her highly professional staff at IDC join our global team of international trade outsourcing professionals," said Kirk Lundburg, President and CEO of Trade Technologies. "The experience of IDC combined with our unsurpassed technology will better serve our clients and give us a very strong presence in New York's vibrant export community."
While the paper-heavy process of letters of credit has changed little since the days of Marco Polo, Trade Technologies is rapidly changing international payment practices. Trade Technologies' Global Trade Management Platform and professional outsourced services are leading the way in enabling exporters and freight forwarders to deliver original trade documentation over the Internet to the world's major international trade banks. This far more efficient process helps customers streamline their operations, eliminate discrepancies and accelerate payments.
IDC opened in 1991 and stands as a leader in letter of credit documentation in the New York area. Under the agreement, IDC will be known as Trade Technologies. All IDC staff, including founder Barbara Trupkin, will remain with Trade Technologies and will continue to provide superior customer service to their existing clients.
"We always had the right people and the right knowledge," Trupkin said of the agreement. "Now we have an amazing technology that is greatly improving the way we do business and the effectiveness with which we serve our clients."