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ETA Ascon Group Goes Live With @GlobalTrade Multi-bank Platform

To adopt systems to local requirements especially in the areas of banking facility management, billing, reporting and fee calculations

Emirates Trading Agency and Associated Constructions (ETA Ascon Group) have implemented GlobalTrade Corporation’s (GTC) @GlobalTrade import, export, guarantee issuance, guarantee receipt, import collection and export collection systems connecting its treasury, business units and banks.

Kalimullah, general manager, corporate accounts at ETA Ascon Group, said: “GTC has customized its software to meet our 6 approval levels and to manage accounting of credit facilities in accordance with banking practices in the Middle East. We are now in the process of a global roll out to our business units and banks. The GTC team did their best to deliver software that fits our needs and we feel that other companies in the region will benefit from GTC’s innovative trade finance technology.”

Arif Rahman, member of the board & group director, ETA Ascon Group, said: “Finance in today’s economy having access to real time financial information is essential. We have invested in bringing all Business Units onto SAP. However, trade finance flows based on documentary credit, guarantees and documentary collections are paper intensive and it was a challenge to bring all the information together to have an accurate picture of positions with our banks that change on a daily basis. Now with GTC’s @GlobalTrade platform we are aiming to automate and standardize our trade finance activities, reduce risk, and bring our bankers onto the same electronic page.”