An Introduction to GT Nexus – Targeting the Direct Supply Chain With Applications and Network Capability

supplier network

Trade Financing Matters' David Gustin recently attended the GT Nexus customer conference to gain a better understanding of the provider’s strategic direction in the market following its merger with TradeCard Inc. (Both companies were backed by private equity provider Warburg Pincus.) Given its focus on enabling global trade and direct spend, GT Nexus is often overlooked by those in procurement who are considering solutions in the purchase-to-pay and supplier network areas. Perhaps they should reconsider.

Here’s how David explains GT Nexus’s place in the procurement, supply chain and network equation:

Today, globalization, free trade agreements, global market opportunities in emerging markets, and the need for visibility and analytics has driven GT Nexus into one of the innovators in connecting the parties to a global trade transaction. Their platform enables companies to run direct sourcing and import programs through a cloud-based platform connecting forwarders, suppliers, large corporate buyers, financing banks, etc. They employ about 1,000 people and serve about 20,000 businesses in industries ranging from manufacturing to retail to consumer goods. The old TradeCard had a lot of traction in retail given the global sourcing of textiles, footwear, and apparel, and combined with GT Nexus SaaS transportation management capabilities, is focused on helping other industries that are distributed globally.

From a solution standpoint, David offered the following suggestions:

Think of GT Nexus as business network infrastructure - with the following functionality – purchase to pay, some order to cash (yes, they help retailers sell to consumers), supply chain execution and logistics. GT Nexus likes to think of themselves as being different because they can handle cross border trade, and cross border trade typically involves buying and moving goods such as finished merchandise for retailers or components for manufacturers. They also address what for many firms is the largest of indirect spends, freight and logistics.

GT Nexus is one of many providers that are often overlooked by mainstream procurement as operating in the same ecosystem as vendors like Oracle, Coupa and SAP’s Ariba. But perhaps this needs to change as the definition of procurement solutions expands to a broader footprint of direct spend and global trade enablement.

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