Tüpraş Goes Live with Amber Road's Restricted Party Screening Solution
EAST RUTHERFORD, NJ, May 6, 2015 -- Amber Road (NYSE: AMBR), a leading provider of global trade management solutions (GTM), today announced that Tüpraş A.S., (Turkish Petroleum Refineries Co.) is live with Amber Road's automated restricted party screening solution, following a six week implementation.
Tüpraş, Turkey's largest industrial enterprise, is part of Koç Holding, the country's biggest conglomerate. As the operator of four major oil refineries in Turkey, Tûpraş does business with about 12,000 entities around the world, such as suppliers, customers and financial institutions. As part of a broad initiative to build a comprehensive corporate compliance strategy, tied to a more stringent regulatory environment and greater demands from its business partners, Tüpraş fast-tracked the restricted party screening portion of its program.
Tüpraş cited ease of use and comprehensive functionality as the primary reasons it selected Amber Road's Restricted Party Screening solution. The solution enables Tüpraş to screen trading partners against restricted party, sanctions and embargoes lists. It also provides automated monitoring against changes on existing and newly added lists. Additional factors in Tüpraş' decision included standard support of automated notifications and escalation scenarios, and extensive audit trail and reporting capabilities. Since Amber Road's Restricted Party Screening module is an integrated part of its broader Export On-Demand solution, Tüpraş also has the ability to integrate additional functionality down the road, with minimum changes to existing configurations
"Amber Road's Export On-Demand solution helps to ensure that we don't conduct business with a restricted party," said Ardan Aksade, compliance officer of Tüpraş A.S. "Because it's an automated solution that performs screens automatically, the solution has also streamlined our business processes by eliminating manual work."
Jim Preuninger, CEO of Amber Road, said: "Although we already have a number of customers with operations in Turkey, Tüpraş is our first customer headquartered there. We continue to expand our geographic footprint and to engage with prospects in new countries."
About Amber Road
Amber Road's (NYSE: AMBR) mission is to dramatically change the way companies conduct global trade. As a leading provider of cloud based global trade management (GTM) solutions, we automate import and export processes to enable goods to flow across international borders in the most efficient, compliant and profitable way. Our solution combines enterprise-class software, trade content sourced from government agencies and transportation providers in 145 countries, and a global supply chain network connecting our customers with their trading partners, including suppliers, freight forwarders, customs brokers and transportation carriers. We deliver our GTM solution using a Software-as-a-Service (SaaS) model and leverage a highly flexible technology framework to quickly and efficiently meet our customers' unique requirements around the world.