Tweeter Goes Live on TradeCard in Less Than 45 Days to Expand Operations Overseas.Global Trade Platform Enables Consumer Electronics Retailer to Optimize Cash Flow and Facilitate Growth NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- TradeCard Inc., the leading provider of global trade products for financial and physical supply chain automation, announced today that consumer electronics retailer Tweeter tweeter - woofer has gone live on the TradeCard Platform to grow its import business, reduce transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). and extend supply chain visibility. The implementation was complete in less than 45 days. "TradeCard enabled us to roll out our import business on a global trade platform that automates processes and allows us to increase business volume while lowering our transaction costs," said Rick Penney, Vice President of Product Development and Sourcing at Tweeter. "By automating fulfillment and settlement processes on an open and flexible platform, we can optimize our cash flow and maintain better relations with our overseas suppliers as we continue to grow." Previously, nearly all of Tweeter's purchasing and procurement operated domestically. TradeCard enables Tweeter to automate transactions with vendors in China and provides on-demand access to a network of more than 2,000 trading partners around the world that transact on the TradeCard Platform. TradeCard injects financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. into its global trading network to optimize cash flow and merge physical and financial aspects of the supply chain. "There's extreme supply chain and finance pressure in the consumer electronics industry and TradeCard is helping companies like Tweeter meet shifting demands through visibility, agility and cash optimization," said Kurt Cavano, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of TradeCard. "Tweeter's rapid TradeCard deployment enabled it to begin processing transactions on the TradeCard Platform less than two months after signing on - and they're already seeing results. Tweeter has streamlined the procurement to payment process to extend visibility, improve margin and cash flow, and grow business overseas without adding staff." Collaboration with suppliers through TradeCard adds agility to the supply chain to help buyers and suppliers meet rapidly shifting pressures and demands, such as increased transaction frequencies and specialized orders. TradeCard provides a local "feet on the street" customer support team that speaks 32 languages and supports customers in 40 countries. About Tweeter Tweeter Home Entertainment Group, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : TWTR TWTR Time Write to Read ) was founded in 1972 by current Chairman Sandy Bloomberg. Based in Canton, Massachusetts Canton is a town in Norfolk County, Massachusetts, United States. The population was 20,775 at the 2000 census. The headquarters of Reebok, Baskin Robbins, Computershare (North American HQ), Allied Domecq Quick Service Restaurants Interpolymer Corporation and Tweeter are , the company is a national specialty consumer electronics retailer providing home and mobile entertainment solutions. The company's fiscal 2005 revenues were $795 million. Tweeter has been named a "Consumer Electronics Retailer of the Year" by Audio-Video International every year since 1979. Tweeter Home Entertainment Group, Inc. now operates 153 stores under the Tweeter, hiFi buys, Sound Advice and Showcase Home Entertainment names in the New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. , Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , Texas, Southern California, Mid-Atlantic, Chicago, Southeast, Florida and Phoenix markets. The company employs more than 3,200 associates. Further information on the Tweeter Home Entertainment Group can be found on the company's web sites at www.twtr.com and www.tweeter.com. About TradeCard TradeCard is the leading provider of on-demand supply chain management solutions. The TradeCard Platform synchronizes financial transactions with physical events in the global supply chain to help customers automate trade transactions from purchase order to payment and chargebacks. Buyers, sellers and their trading partners manage transactions through a web-based platform with online financial services integrated into the workflow. This turnkey transaction management enables customers to improve margins and enhance growth, with extra-organizational supply chain visibility. TradeCard's on-the-ground trade experts throughout the world assure superior supply chain agility. TradeCard manages global trade for thousands of users in over 40 countries, including Columbia Sportswear, Rite Aid and Wolverine wolverine or glutton, largest member of the weasel family, Gulo gulo, found in the northern parts of North America and Eurasia, usually in high mountains near the timberline or in tundra. Worldwide. TradeCard Inc. is headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and has offices in San Francisco, Hong Kong, Brussels, Taipei, Seoul, Tokyo, Colombo, and Shenzhen. TradeCard is located online at www.tradecard.com This press release contains a number of matters that constitute forward-looking statements. The presentation reflects the current views of TradeCard's management with respect to future events and is subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. |
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