Global Trade
Management (GTM) is the process of rearranging the entire
lifecycle of global trade across different verticals of business
including order, logistics, and settlement activities. Global Trade
Management ameliorates operating competences as well as cash flows
considerably. The inclusive nature of GTM is an advantage for
organizations that look forward to implement the system-wide and
cross-functional view of global trade.
Owing to the rise in
national as well as international trade and rise in fuel cost, the
overall cost of global transportation and logistics is increasing.
This has driven several trading organizations to put GTM solutions
into practice that will eventually help them to lessen their
operative costs and enhance their working proficiency. GTM solutions
bring down the transportation charges by almost 4%-10%. Moreover, it
helps corporations to maintain links between transportation modules,
enabling economical and quicker deliveries. GTM
software helps in transportation design and tracking, and
improves fleet management. Additionally, GTM software enhances
transportation business intelligence, billing and claims, workflow
management, document management, and customs management. GTM software
offers real-time visibility of customs clearance status, shipments in
transit, and helps in better cost control. These factors are likely
to drive the overall GTM software market in the forecast period.
One of the major
challenges of the market is that GTM crosses various horizontals
within organizations; hence, many organizations suffer from poor
performance while implementing GTM in their global operations.
Usually, it takes years before an organization can fully realize the
potential of a GTM solution and reap benefits from it. However, GTM
software improves inventory levels forecast, and supply chain
performance. As organizations around the world are opting for
automation due to the increase in the transportation business, these
advantages that the GTM software offers are likely to act as
opportunities for the market over the forecast period.
The global market
for GTM software market can be segmented on the basis of end user and
region. According to end user, the market can be trifurcated into
retail and consumer goods sector, transportation and logistics
services, and manufacturing sector.
The retail and
consumer goods sector held a significant share of the market owing to
the fact that the sector adopted GTM software very early in the GTM
solutions’ lifecycle. Many global retail chains and FMCG companies
such as Kroger and Wal-Mart among others adopted GTM software
solutions to enhance their supply chain efficiencies, as well as
lessen cash-to-cash cycles and delivery costs.
On the basis of
region, the global trade management software market can be classified
into North America, Europe, Asia Pacific, Latin America, and Middle
East and Africa. North America constituted the largest share in the
global GTM software market. This is due to the presence of large
retail chains, manufacturers, and trading companies. Additionally,
adoption rate of GTM software is much higher in this region when
compared to other parts of the world. Many companies are focusing on
increasing efficiency and be more customer-centric, due to which the
GTM software market is experiencing high demand from this market.
The leading
companies offering GTM service unceasingly innovate their service
offerings. There is limited service differentiation in the market.
GTM software providers capitalize on the expansion of explicit and
tailored solutions to reinforce their position in the global market.
Major players such as Amber Road and Oracle provide unique features
such as automated restricted party screening, order collaboration,
and supply chain analytics.
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The key players
operating in the global GTM software market are Integration Point,
Amber Road, QuestaWeb, Descartes, Aptean, SAP, Infor, Oracle, and
Precision Software. Other companies in the market include MIC Custom
Solutions, CargoWise, TradeStone Software, Kewill Technologies, and
MercuryGate, among others.
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