TradeCard Expands in China and India
New Staff Support Remarkable Growth in Automated Trade Adoption
New York, September 21, 2005 - TradeCard Inc., the leading provider of on-demand financial supply chain products, has expanded in southern China and South Asia as the company's growth in the world's two most populous nations beats expectations.
New customer service teams will service close to 1,500 vendors mainly in China, on the Indian subcontinent and in North and East Asia, but also in Europe, and in the Middle East. The new team joins TradeCard's already extensive global support organization that includes teams in Hong Kong, Taiwan and South Korea. In 2005, TradeCard expects the number of new vendors signing up to its electronic trade management system to rise by over 60% compared with 2004 - to nearly 700 vendors per year from 400 last year. Growth is expected to accelerate in 2006.
TradeCard is increasing its customer service team in China, and on the Indian Subcontinent has employed customer service and business development executives in Colombo, Sri Lanka.
Offering local support and a comprehensive vendor activation and training program to customers is one of TradeCard's competitive advantages and has contributed to the company's success. In vendor scorecarding implemented by some of TradeCard's large global corporate customers, customer support for suppliers has consistently scored highly over the past years.
With additional staff, TradeCard's current customer service team will be able to increase its focus on the activation of new vendors and on other value-added services. The new customer service team will take care of incoming inquiries and day-to-day customer support for existing customers such as suppliers to JC Penney, Columbia Sportswear, Wolverine World Wide, Rite Aid and Kellwood, as well as new customers.
"Over the past two years, our sales have accelerated at such a rate that it made good business sense to increase our customer support teams to take advantage of this growth," said Kurt Cavano, Chairman and CEO, TradeCard Inc. "With new teams in place where our customers source the majority of their goods we are well-placed to continue offering the high level of service that our customers have come to expect."
About TradeCard
TradeCard, the leading provider of on-demand financial supply chain products, is revolutionizing global trade with a web-based platform that automates the financial processes in supply chains that have been plagued with decades-old paper-based solutions. By using TradeCard, buyers and sellers can manage their transactions with complete visibility to initial orders through final settlement. TradeCard's global network of partners provides additional automated services on the platform including supply chain financing, credit protection, money movement and inspection. In addition to process improvements, customers realize immediate cost savings, optimized cash flow, reduced reliance on credit lines and improved supply chain relationships. Headquartered in New York City, TradeCard Inc. has offices in San Francisco, Hong Kong, Brussels, Taipei, Seoul, Tokyo and Shenzhen. TradeCard is a registered trademark in the United States and elsewhere throughout the world. TradeCard is located online at www.tradecard.com.
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This press release contains a number of matters that constitute forward-looking
statements. The presentation reflects the current views of TradeCard's
management with respect to future events and is subject to risks and
uncertainties that could cause actual results to differ materially
from those contemplated in such forward-looking statements.
