Ingram Micro Expands Use of Descartes’ Denied Party Screening Solution to Europe
October 31 2016 - 5:45AM
Descartes Systems Group (Nasdaq:DSGX) (TSX:DSG), the global leader
in uniting logistics-intensive businesses in commerce, announced
that Ingram Micro Inc. (NYSE:IM), a leader and innovator in
technology and supply chain services, is expanding its use of
Descartes’ denied party screening solution to the company’s
European operations to help ensure global trade compliance. Ingram
Micro is a long-time Descartes denied party screening customer in
North America where it uses the solution to minimize the risk of
transacting business with parties who may be subject to trade
restrictions.
“With more than 200,000 customers in 160 countries and an
extensive sales and distribution network worldwide, denied party
screening is an important aspect of trade compliance,” said Kristi
Kim, Director, Compliance and Export Operations at Ingram Micro.
“As we expand our European operations, standardizing on the
Descartes solution enables us to more thoroughly screen parties
while maintaining the strict data privacy rules that exist in the
European Union.”
From Fortune 500 companies, like Ingram Micro, to small
ecommerce retailers, companies must ensure that business is not
transacted with persons, entities, corporations or countries that
appear on prohibited or restricted lists maintained by government
agencies and international organizations that regulate global
trade. The penalties for non-compliance can include fines,
revocation of export privileges, and criminal charges, in addition
to the potential for reputational damage.
Using Descartes’ MK Denied Party Screening™ solutions, companies
can easily and efficiently screen customers, prospects, suppliers,
employees and partners against a comprehensive international
database of denied and restricted parties. Customers can tailor
their screening processes to fit their unique risk parameters, flag
potential compliance issues for resolution, and integrate denied
party screening information with enterprise resource planning (ERP)
and global trade management (GTM) systems.
“We’re pleased to help support Ingram Micro’s compliance
initiative as part of its European expansion,” said Ken Harris,
Head of Denied Party Screening at Descartes Systems Group. “With
such a high-volume international business, a key challenge in the
screening process is balancing risk parameters and business needs.
Descartes’ solution allows companies to sensitivity-adjust risk
concerns, choose industry-specific lists to ensure the proper
breadth of screening coverage, and fit the volume of business
transactions generated by the organization whether high, medium or
low.”
About Ingram Micro Inc. Ingram Micro helps
businesses Realize the Promise of Technology™. It delivers a full
spectrum of global technology and supply chain services to
businesses around the world. Deep expertise in technology
solutions, mobility, cloud, and supply chain solutions enables its
business partners to operate efficiently and successfully in the
markets they serve. Unrivaled agility, deep market insights and the
trust and dependability that come from decades of proven
relationships, set Ingram Micro apart and ahead. More at
www.ingrammicro.com.
About Descartes Systems
Group
Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing
on-demand, software-as-a-service solutions focused on improving the
productivity, performance and security of logistics-intensive
businesses. Customers use our modular, software-as-a-service
solutions to route, schedule, track and measure delivery resources;
plan, allocate and execute shipments; rate, audit and pay
transportation invoices; access global trade data; file customs and
security documents for imports and exports; and complete numerous
other logistics processes by participating in the world's largest,
collaborative multimodal logistics community. Our headquarters are
in Waterloo, Ontario, Canada and we have offices and partners
around the world. Learn more at www.descartes.com.
Cautionary Statement Regarding Forward-Looking
Statements This release contains forward-looking
information within the meaning of applicable securities laws
("forward-looking statements") that relate to Descartes' solution
offering and potential benefits derived therefrom; and other
matters. Such forward-looking statements involve known and unknown
risks, uncertainties, assumptions and other factors that may cause
the actual results, performance or achievements to differ
materially from the anticipated results, performance or
achievements or developments expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to, the factors and assumptions discussed in the section
entitled, "Certain Factors That May Affect Future Results" in
documents filed with the Securities and Exchange Commission, the
Ontario Securities Commission and other securities commissions
across Canada including Descartes most recently filed management's
discussion and analysis. If any such risks actually occur, they
could materially adversely affect our business, financial condition
or results of operations. In that case, the trading price of our
common shares could decline, perhaps materially. Readers are
cautioned not to place undue reliance upon any such forward-looking
statements, which speak only as of the date made. Forward-looking
statements are provided for the purpose of providing information
about management's current expectations and plans relating to the
future. Readers are cautioned that such information may not be
appropriate for other purposes. We do not undertake or accept any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements to reflect any change
in our expectations or any change in events, conditions or
circumstances on which any such statement is based, except as
required by law.
Global Media Contact
Mavi Silveira
Tel: +1(800) 419-8495 ext. 202416
msilveira@descartes.com
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