It currently operates multiple systems, different by country, to manage its global trade processes, including generating export licenses, performing compliance checks against government trade regulations, and generating international shipping documents. Seagate is now implementing Vastera s TradeSphere to automate these activities, with the goal of improving cycle times associated with international shipments by shortening the time required to generate international shipping documents and perform country specific compliance checks, as well as expediting the customs clearance process. Shipping goods all over the world requires a sophisticated system that doesn t compromise customer service or significantly increase overhead, said Ron Nordstrand, Vice President of IT for Seagate. We believe that by consolidating our global trade management operations into Vastera, we will not only improve the speed and efficiency of our global shipping, but also reduce the associated costs. We believe that by giving Seagate a central command center for global trade management, it will be better equipped to share valuable information with its trading partners, thereby reducing inventories, minimizing shipment errors and improving customer service.
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About Vastera Vastera s global trade management solutions are designed to automate and streamline the trade functions of global e-business. Vastera s global trade management solutions include modular, web-based applications, management consulting and managed services. The foundation of these solutions is Global eContent, a comprehensive, electronic library of country-specific trade and regulatory data, which is maintained and updated daily. This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These risks and uncertainties may cause actual results to differ materially from the expected results and include, but are not limited to, Vastera's limited operating history, history of losses and anticipation of continued losses, potential volatility of quarterly operating results, the ability to successfully implement Vastera's expansion plans, risks related to the Internet, risks related to legal uncertainty and other risks which are set forth in more detail in Vastera's Registration Statement on Form S-1, as amended, as well as other reports and documents filed from time to time with the Securities and Exchange Commission.