Grupo Cortefiel Goes Live on TradeCard for Supply Chain Finance Optimization
NEW YORK, NY and MADRID, SPAIN, Dec 11 (MARKET WIRE) -- TradeCard, Inc., the leading provider of extended supply chain solutions, has announced that major fashion retailer Grupo Cortefiel has deployed the TradeCard Platform to automate supply chain finance processes from purchase order through payment. TradeCard enhances flexibility and visibility in Grupo Cortefiel'sfinance department and enables an early payment program that extends payment terms while eliminating cash flow bottlenecks at its suppliers. "Process automation across our finance organization improves efficiency by eliminating paper, manual processes and the need for letters of credit," said Rafael Campos Perez, Treasurer at Grupo Cortefiel. "TradeCard helps us gain visibility into money movement to ensure that we're making smart decisions that maximize cash flow and improve relations with our suppliers. The hosted platform provides better control of payments and products as they move through the supply chain." Grupo Cortefiel is a leading company in the fashion retail business. It manufactures, distributes and sells clothing and accessories for men and women. "Grupo Cortefiel uses its supply chain as a competitive advantage. The movement of cash and goods throughout sourcing and manufacturing is a key driver of its business growth," said Kurt Cavano, CEO of TradeCard, Inc. "TradeCard allows Grupo Cortefiel to automate and maximize supply chain finance processes to improve cash flow and generate overall efficiency. Grupo Cortefiel and its trading partners across Europe and Asia benefit from connectivity on the TradeCard Platform and they're backed by our in-country support teams that ensure they're up and running." Grupo Cortefiel operates 1,290 points of sale in 48 countries. Its brands include Cortefiel, Pedro del Hierro, Springfield, Women'secret, and Milano. TradeCard enables companies that source to maintain full visibility into production by chaperoning the movement of goods as they move through the extended supply chain, connecting vendors, banks, label companies, agents and other parties involved. TradeCard provides online access to a network of more than 3,000 trading partners around the world, supported by a local "feet on the street" customer support team that speaks 32 languages and supports customers in 45 countries. TradeCard helps clients that range from $10 million to over $20 billion in revenue to eliminate waste and delay from the sourcing process. Financial services available on the TradeCard Platform help companies of all sizes to better compete by extending operational agility and improving margin and cash flow. About TradeCard, Inc. TradeCard, Inc. is the leading provider of on-demand supply chain management solutions. The TradeCard Platform synchronizes financial transactions with physical events in the global supply chain to help customers automate trade transactions from purchase order to payment and chargebacks. Buyers, sellers and their trading partners manage transactions through a web-based platform with online financial services integrated into the workflow. This turnkey transaction management enables customers to improve margins and enhance growth, with extra-organizational supply chain visibility. TradeCard's on-the-ground trade experts throughout the world assure superior supply chain agility. TradeCard manages global trade for thousands of users in over 40 countries,including Columbia Sportswear, Rite Aid and Wolverine Worldwide. TradeCard,Inc. is headquartered in New York City and has offices in San Francisco, Hong Kong, Brussels, Taipei, Seoul, Colombo, and Shenzhen. TradeCard is located online at www.tradecard.com. Contact: Bryan Nella TradeCard +1-212-405-1855 email@example.com Copyright 2007, Market Wire, All rights reserved. -0-
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.