The Evolution of Trade Management: From Traditional Methods to Cutting-Edge GTM Software Solutions

 


A Global Trade Management (GTM) software suite helps businesses efficiently manage and streamline cross-border supply chain processes. This suite enables organizations to handle trade finances, compliance, documentation, shipments, and third-party logistics (3PLs) seamlessly. It centralizes the optimization, automation, and monitoring of workflows to manage the flow of information, finances, and goods. Additionally, it addresses the complexities of international trade, which involves various modes of transportation, trade partners, languages, time zones, and currencies.

The growing trend in the GTM software market is the increased adoption of cloud/SaaS-based deployments. While many large enterprises still prefer on-premise deployments, most small to medium-sized businesses (SMBs) and many large organizations are moving towards cloud-based GTM solutions. Several major GTM vendors now successfully offer cloud-based deployments to enterprise customers. Another significant trend is the integration of Blockchain, Automation, Machine Learning, and Artificial Intelligence (AI) into GTM solutions. Blockchain technology aims to enhance supply chain visibility, traceability, transparency, and security.

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Key questions this study aims to answer include:

·       What is the current state of competition in the Global Trade Management (GTM) market?

·       What is the market share held by major vendors in this market?

·       What are the key competitive dynamics in the global and regional markets for GTM?

·       Who are the leading vendors in the global and regional markets?

·       Are there vendors specializing in specific industries?

·       How do different vendors compare in terms of their offerings of cloud-based versus on-premise solutions?

·       What competitive factors impact the market positioning of different vendors?

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Strategic Market Direction:

Machine learning and AI are expected to advance supply chain solutions by creating a self-aware platform that integrates human input, data, and technology. Innovations in robotic process automation (RPA), blockchain, AI, and deep learning are propelling the development of effective trade management systems for supply chain operations.

Automation and AI tools offer functionalities such as automated product classification, guided classification, data completion, and approval management. These technologies also help mitigate compliance risks, including restricted and territory screening, and provide continuous auditing and analysis of legal content. Automation in GTM helps reduce delays in customs clearances.

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Vendors Covered in the study:

This study includes an analysis of key vendors, including AEB, Bamboo Rose, Cargosmart, Descartes System Group, E2open, Freightgate, LOG-NET, MIC Customs, OCR GTM, Oracle, QAD Precision, SAP, S&P Global, Thomson Reuters and, WiseTech Global.

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