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EAST RUTHERFORD,
NJ, July 28, 2011 -- Management
Dynamics, a leading provider of
global trade management
solutions, today announced that
Invensys PLC (ISYS:LN), a global
engineering and technology
company, has selected its
Restricted Party Screening (RPS)
On-Demand solution to
automate the RPS process for all
of its global operations across
125,000 parties in 180
countries. Invensys expects to
minimize valuable time and
resources required for
screening, and ultimately
improve compliance and reduce
corporate risk.
With criminal penalties reaching
$1 million per violation for
trading with a denied party,
minimizing this risk has become
a top priority for the trade
compliance team at Invensys. The
company needed to consolidate
all three of its business units,
Invensys Operations Management,
Invensys Controls and Invensys
Rail, onto the same screening
platform. Invensys required a
fast, easy-to-use solution with
advanced logic and functionality
to accommodate different regions
and customer segments that could
easily integrate with multiple
ERP systems including SAP.
Invensys selected Management
Dynamics'
RPS On-Demand solution for
its comprehensive global
coverage of restricted party
lists, specifically in Europe,
Africa and APAC, as well as its
functionality, ease of use, and
ability to centralize compliance
with multi-org and team-based
workflow that would enable its
three diverse business units to
easily manage their own customer
shipments.
"We previously relied on a
variety of different tools and
processes for the majority of
our business units which was
very cumbersome and
time-consuming. With RPS
On-Demand, our Sales, Proposals
and Order Management teams will
be able to implement new
screening processes which will
enable each team to be very
proactive, save time and effort
and eventually reduce our
compliance risk," said Suzanne
Bullitt, Trade Compliance
Director, Americas at Invensys
PLC. "In addition to meeting our
export compliance requirements,
we are impressed with the
breadth of Management Dynamics'
Global Trade Management
solutions.
Available on a highly
configurable, on-demand
architecture, Management
Dynamics' RPS On-Demand solution
will provide 300 global Invensys
users with a secure,
comprehensive method to automate
screening of its 125,000
customers, vendors, and trading
partners against 191 restricted
party lists from governmental
institutions worldwide.
"Restricted party screening is a
must-have procedure for any
global organization, and even
more so for technology companies
that ship highly controlled
products, as the risks
associated with not having a
system in place are becoming
increasingly large," said Jim
Preuninger, CEO of Management
Dynamics. "Invensys is
demonstrating industry
leadership by adopting an
advanced risk management
solution that will create
significant returns in
productivity and mitigate
compliance risks."
About
Invensys PLC
Invensys is a global technology
group supplying solutions,
software, services and equipment
to monitor, control and automate
processes in a wide range of
environments and across almost
every sector.
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