Global Technology Group Automates Comprehensive Screening of 125,000 Restricted Parties
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.