JPMorgan Treasury Services has partnered with Vastera to offer software and outsourced services to clients moving goods across international borders.
Vastera's 'global trade management' solutions electronically ensure companies comply with country-specific trade regulations, manage duties, taxes, and fees that generate international shipping documents, and collaborate with trading partners, and other logistics functions.
Paul Simpson, global trade, procurement and card services business executive for JPMorgan Treasury Services, comments: "The Vastera offering provides a completely complementary service to our suite of financial supply chain services and we are confident that we can remove significant costs and enhance efficiencies for our clients."
He says the combined services of JPMorgan and Vastera can assist clients in creating additional efficiencies throughout their supply chains while potentially reducing shipment delays and exposure to potential fines.