WATERLOO, Ontario, Oct. 31, 2016 (GLOBE NEWSWIRE) -- Descartes Systems Group (Nasdaq:DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, announced that Ingram Micro Inc. (NYSE:IM), a leader and innovator in technology and supply chain services, is expanding its use of Descartes’ denied party screening solution to the company’s European operations to help ensure global trade compliance. Ingram Micro is a long-time Descartes denied party screening customer in North America where it uses the solution to minimize the risk of transacting business with parties who may be subject to trade restrictions.
“With more than 200,000 customers in 160 countries and an extensive sales and distribution network worldwide, denied party screening is an important aspect of trade compliance,” said Kristi Kim, Director, Compliance and Export Operations at Ingram Micro. “As we expand our European operations, standardizing on the Descartes solution enables us to more thoroughly screen parties while maintaining the strict data privacy rules that exist in the European Union.”
From Fortune 500 companies, like Ingram Micro, to small ecommerce retailers, companies must ensure that business is not transacted with persons, entities, corporations or countries that appear on prohibited or restricted lists maintained by government agencies and international organizations that regulate global trade. The penalties for non-compliance can include fines, revocation of export privileges, and criminal charges, in addition to the potential for reputational damage.
Using Descartes’ MK Denied Party Screening™ solutions, companies can easily and efficiently screen customers, prospects, suppliers, employees and partners against a comprehensive international database of denied and restricted parties. Customers can tailor their screening processes to fit their unique risk parameters, flag potential compliance issues for resolution, and integrate denied party screening information with enterprise resource planning (ERP) and global trade management (GTM) systems.
“We’re pleased to help support Ingram Micro’s compliance initiative as part of its European expansion,” said Ken Harris, Head of Denied Party Screening at Descartes Systems Group. “With such a high-volume international business, a key challenge in the screening process is balancing risk parameters and business needs. Descartes’ solution allows companies to sensitivity-adjust risk concerns, choose industry-specific lists to ensure the proper breadth of screening coverage, and fit the volume of business transactions generated by the organization whether high, medium or low.”
About Ingram Micro Inc.
Ingram Micro helps businesses Realize the Promise of Technology™. It delivers a full spectrum of global technology and supply chain services to businesses around the world. Deep expertise in technology solutions, mobility, cloud, and supply chain solutions enables its business partners to operate efficiently and successfully in the markets they serve. Unrivaled agility, deep market insights and the trust and dependability that come from decades of proven relationships, set Ingram Micro apart and ahead. More at www.ingrammicro.com.
About Descartes Systems Group
Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world's largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com.
Cautionary Statement Regarding Forward-Looking Statements
This release contains forward-looking information within the meaning of applicable securities laws ("forward-looking statements") that relate to Descartes' solution offering and potential benefits derived therefrom; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the factors and assumptions discussed in the section entitled, "Certain Factors That May Affect Future Results" in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada including Descartes most recently filed management's discussion and analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.