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.
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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.
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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.
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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