Toronto, Canada – Surecomp®, the leading provider of global trade finance solutions for banks and corporates, today announced that automotive multinational TRATON SE has gone live with its trade finance processing solution COR-TF™ in the cloud. The move came as part of a corporate-wide initiative to shift many of the firm’s on-premise installed solutions to its cloud environment in order to improve agility and reduce total cost of ownership.
The Munich-based company – which reported €22.6bn in revenue last year – has been using Surecomp’s COR-TF solution since 2007 to centralize and standardize its global trade finance workflow. Provided by TRATON, COR-TF is the leading IT solution for trade finance in the entire Volkswagen Group. With processing automation and enhanced operational efficiency the initial drivers, the export-heavy business has since seen considerable expansion and executes more than a thousand transactions per month.
“Thanks to a great team effort between Surecomp and TRATON, we are pleased to have successfully gone live with COR-TF in the cloud,” commented Stephan Mazurkiewicz, VP Trade Finance and Insurance at TRATON. “With reduced reliance on our internal IT infrastructure, we now have the accessibility, agility and efficiency to support TRATON’s “Global Champion Strategy.”
“We are very proud to have supported TRATON in this important corporate-led initiative,” says Yaron Hupert, SVP Account Management at Surecomp. “We are transitioning more and more customers to the cloud as the cost benefits and scalability prove invaluable to future-proofing their business. TRATON is a shining example of how straightforward this move can be, with an immediate realized return on investment”
TRATON SE is a subsidiary of Volkswagen AG and a leading commercial vehicle manufacturer worldwide with its brands MAN, Scania, Volkswagen Caminhões e Ônibus, and RIO. In 2020, the TRATON Group’s brands sold around 190,200 vehicles in total. The Group’s product range comprises light commercial vehicles, commercial vehicles and buses. The vehicles are manufactured at 29 production and assembly locations in 17 countries. The company had a workforce of around 82,600 worldwide across its commercial vehicle brands as of December 31, 2020. The Group seeks to transform the transportation system – with its products, its services and its partnership with its customers.
Surecomp® is the market leader in global trade finance solutions for banks and corporations. An industry pioneer for over thirty years, we provide an innovative digital portfolio of cloud and on-premise trade finance, supply chain finance and treasury solutions, streamlining the transaction lifecycle to enhance operational efficiency, ensure compliance and drive growth. With a global footprint of eight offices in Toronto, New York, Santiago, Buenos Aires, London, Hamburg, Tel Aviv and Singapore, we partner with a prestigious customer base in over eighty countries across the world. For more information about Surecomp visit surecomp.com.
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