TradeCard, a financial supply chain service provider, has announced that SenTech Inc, an aggregator of business services for the electronic security, fire and life safety industry, will expand its offering to include TradeCard’s financial settlement services for its member community.
By adding TradeCard to the SenTech platform, users can take advantage of SenTech’s online catalogue system to identify and select products they want to purchase, and then use the TradeCard platform to financially settle transactions on a credit-assured or open account basis.
The TradeCard platform will have the look and feel of SenTech’s, providing a seamless customer experience when transactions move from one system to the other.
Under the terms of the licensing agreement, SenTech’s member manufacturers will offer their inventory through SenTech’s custom catalogue system to their member buyers, who are the distributors and integrators in the electronic fire and security industry. These member buyers select the inventory from the SenTech catalogues to initiate a Purchase Order and then opt to settle the transaction on TradeCard. The SenTech Purchase Order is transmitted to a white-labelled version of TradeCard that is visually consistent with the SenTech branding. Once on TradeCard, buyers (distributors and integrators) and the sellers (manufacturers) can utilize all of the financial supply chain functionality offered on the TradeCard platform. This includes full negotiation, amendment, and settlement capability, as well as utilizing TradeCard’s patented compliance engine to ensure that the goods shipped match the terms of the contract originally agreed to between buyer and seller.
SenTech’s customers will have access to the full range of TradeCard’s services including its collaborative workflow, compliance through TradeCard’s patented data compliance engine that compares procurement and fulfilment documents managed by the platform, and financial settlement for domestic or cross-border, small or large dollar transactions. SenTech members using TradeCard will also have access to a network of over 100 trade services suppliers, including payment assurance, financing, logistics, inspection and cargo insurance companies.
“This is a clear win-win situation,” says Kurt Cavano, chairman and CEO, TradeCard. “SenTech’s members will benefit from TradeCard’s automated document workflow and instant compliance and financial settlement ability and we will extend our customer base into the security, fire and life safety industry.”
“SenTech and TradeCard share the same mission: to offer our customers a unique, new and smarter way of doing business to reduce their costs and increase productivity,” says Leigh Carr, executive vice-president, SenTech. “By white labelling the TradeCard platform we are launching a first-of-its kind offering in the electronic security, fire and life safety industry that will hugely improve current purchasing processes for all parties involved.”
Visit www.tradecard.com and www.sentech.biz