Despite Declining Trade, the Global Trade Management Market Does Well
Global Trade Management (GTM) solutions streamline and automate processes related to customs and regulatory compliance and trade financing. By so doing, GTM solutions facilitate the flow of information, money, and goods in global trade supply chains that include buyers, sellers, and intermediaries including customs agencies, banks, and freight forwarders.
GTM solutions automate trade processes. Clearly, when trade is down, the GTM market will be adversely affected. It is not surprising; therefore, that the global economic downturns has led this market to contract.
What is surprising, however, is how little, less than 1 percent, this market contracted.
Managing the flow of goods, information, and money across borders is a highly complex, regulated, and dynamic process — and becoming more so every day. Therefore, companies can no longer rely on manual processes to manage their global trade operations. This is why the Global Trade Management systems market will be one of the fastest growing segments of the enterprise software industry.
Strategic Issues
While the recent global economic downturn reduced global trade, the long range forecast is for globalization to continue to grow. If this is so, GTM becomes increasingly strategic. Strategic issues covered include:
- How can suppliers increase their value proposition?
- Are different strategies required for ERP vs. best of breed suppliers?
- How will the need for more granular, total landed cost data affect this market?
- Why is connectivity such a critical component?
- How can solution providers stay on top of the ever changing content requirements?
