Marine Harvest Rapidly Ramps-up Restricted Party Screening with Automated Amber Road Solution
EAST RUTHERFORD, NJ, May 20, 2015 -- Amber Road (NYSE: AMBR), a leading provider of global trade management solutions (GTM), today announced that Marine Harvest ASA has selected Amber Road's Restricted Party Screening solution to monitor its worldwide trading partners and has signed a five-year subscription.
As the world's largest supplier of farmed Atlantic Salmon, Marine Harvest operates the entire value chain for all its products. It has a global network of suppliers, forwarders and customers totaling more than 100,000 trading partners worldwide.
With international authorities imposing more, and increasingly tough, trade regulations, Marine Harvest realized it was time to upgrade from manual to automated screening. In particular, with Russia specifically targeted for additional sanctions and scrutiny, the Oslo-based company moved quickly to boost its compliance assurance.
Amber Road's market leadership and its comprehensive screening coverage encompassing over 300 restricted party lists from government institutions worldwide were key factors in the decision. Additionally, the high degree of automation, with 24/7 monitoring of trading entities, meant that Marine Harvest could dramatically upgrade its screening capabilities without adding manpower.
Johan Sorensen, manager of business systems at Marine Harvest, said, "Amber Road provides a straight forward and fast solution to screen our customers and suppliers, providing the security that we don't do business with anyone on a denied party list. Additionally, the US banks we work with require us to screen our suppliers and customers in order for us to make use of their financial services."
The solution was implemented in less than three months from kick-off. All trading entities data were exported from the company's ERP system into the Amber Road-hosted solution delivered in the cloud, enabling immediate automated screening.
"Restricted party screening is a must for every company, not just those operating in industries with a high risk profile," noted Jim Preuninger, CEO of Amber Road. "Food companies, and indeed companies in every field, need to protect themselves by ensuring their full compliance with international trade restrictions."
The restricted party screening solution is part of the comprehensive Amber Road Export On-Demand platform, affording Marine Harvest an easy and cost-effective path to later add trade management and compliance capabilities.
About Marine Harvest
Marine Harvest ASA is one of the largest seafood companies in the world, and the world's largest producer of Atlantic salmon. The company employs 10 200 people, and is represented in 22 countries. In 2013 the company had a turnover of NOK 19 billion. Marine Harvest is listed on the Oslo Stock Exchange (OSE) and the New York Stock Exchange (NYSE). Marine Harvest supplies healthy, delicious and sustainably farmed salmon and processed seafood to more than 50 markets worldwide. The company is present and trusted in all major salmon farming regions in the world. Estimated salmon production for 2014 is 414000 tonnes.