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EAST RUTHERFORD, NJ,
September 18, 2008 -- Management
Dynamics, a leading provider of
Global Trade Management
solutions, today announced the
release of RPS On-Demand 5.0, an
advanced risk management
solution that screens
individuals and businesses to
identify prohibited transactions
based upon over 90
restricted
party lists. The new release
leverages computational
linguistics and team-based
workflow to provide supply chain
teams with a significantly
higher level of screening
accuracy and improved
productivity for managing
potential hits and maintaining
compliance with U.S. export
regulations.
With the flexibility to
integrate with any enterprise
system or ad-hoc business
process,
RPS On-Demand provides
the cornerstone of an Export
Management System for companies
that export to a related party,
or have a subsidiary that
exports from another country. By
establishing internal order
processing controls, both
small-to-medium-sized businesses
as well as large, multi-national
companies, can ensure compliance
with frequently-changing trade
regulations. Companies that do
not sufficiently safeguard their
supply chain can incur up to
$120,000 in fines, and be
subject to criminal prosecution
and loss of export privileges.
RPS On-Demand 5.0 delivers
substantial improvements in the
accuracy of identifying
restricted parties and the
minimization of false positives
by first normalizing input data,
then applying new
phrase-matching algorithms based
on computational linguistics.
Compared with simple keyword or Soundex screening approaches,
RPS On-Demand delivers at least
a 30 percent improvement in
screening accuracy with a 70
percent reduction in false
positives. A Workbench provides
systems administrators with the
tools they need to tune the
algorithms and test new
configurations.
Other new features available in
RPS On-Demand 5.0 include:
- Resolution Workflow with
Escalations – RPS On-Demand 5.0
supports a team-based workflow
process to efficiently clear
hits based on multiple
configurations including
country, division, or the aging
of a potential hit. In addition,
issues can be escalated to
managers for resolution.
- Multi-Organization,
Multi-Role Model – RPS On-Demand
5.0 is highly configurable,
supporting an n-level
organization model and flexible
role-based assignment of
functionality, allowing for
quick deployment and alignment
to a company’s business process
without customization.
- Expanded Lists with Daily
Updates – RPS On-Demand 5.0
integrates with the industry’s
most comprehensive source of
restricted party lists. Over 90
lists are monitored and updated
daily and all changes to
subscribed lists are then
re-screened against trade party
data to maintain the highest
levels of compliance.
RPS On-Demand 5.0 is a hosted,
Web-based application that
integrates with any enterprise
system and can be quickly and
cost-effectively implemented –
typically in less than a month.
“The uniqueness of Management
Dynamics’ product is the
screening technology it uses.
Based on computational
linguistics, it’s arguably the
most sophisticated software used
in the industry for this
purpose,” said John Fontanella,
VP Research at AMR Research.
“And given the state of master
data in most companies, this is
good news. Regardless of how the
name and address of a customer
is entered, the software is
designed to minimize false
positives without sacrificing
accuracy as it compares company
data to multiple
government-issued restricted
party lists.”
“As companies continue to expand
global operations, supply chain
teams need to apply the latest
automation technology and
information services to support
business growth objectives while
managing risk,” said Nathan
Pieri, Management Dynamics’ SVP
of Marketing and Product
Management. “RPS On-Demand 5.0
features the absolute
state-of-the-art in screening
technology and team-based
workflow that can be quickly and
cost effectively implemented by
any enterprise.” |
