Vishay Intertechnology Inc.

$VSH - NYSE - Computers and Electronic Equipment
0 LAST
0 CHANGE $
0 CHANGE %
loader
ON 0
WATCHLISTS

COMMUNIQUÉ DETAILS

Up 0 0 Down
Vishay Intertechnology Reduces Trade Compliance Risks with Amber Road’s RPS On-Demand Solution

Global Semiconductor Manufacturer Automates Restricted Party Screening Worldwide

EAST RUTHERFORD, N.J.--(BUSINESS WIRE)-- Amber Road, a leading provider of global trade management solutions, announced today that Vishay Intertechnology, Inc. (NYSE:VSH), one of the world's largest manufacturers of discrete semiconductors and passive electronic components, reduced corporate risk and improved compliance with trade regulations using Amber Road’s Restricted Party Screening (RPS) On-Demand solution.

Integrated into three separate instances of SAP, the RPS On-Demand solution enables Vishay to screen tens of thousands of its customers and vendors across the Americas, Europe, the Middle East and Asia, against over 200 restricted party lists from government institutions worldwide.

As part of its global trade compliance initiative, Vishay needed an automated compliance screening program that would help ensure they were not shipping products to an embargoed country or a denied party. The solution also needed to centralize information on Vishay’s business partners on a global basis. After a thorough vendor evaluation, the trade compliance team at Vishay selected Amber Road for its global coverage, ease of implementation and cost.

“Not only are governments worldwide expanding their regulatory programs, they are becoming increasingly intolerant of noncompliance,” said John Preuninger, President & COO of Amber Road. “We applaud Vishay’s dedication to creating a world-class compliance program by automating the complex screening process necessary to mitigate compliance risks.”

As an importer/exporter, Vishay must comply with all government regulations when shipping goods internationally. Thus, any associated violation of these regulations could result in possible fines, suspension or debarment from government contracting or subcontracting for a period of time. The result of any of these acts could negatively impact Vishay’s reputation and future earnings.

RPS On-Demand is a hosted, Web-based application enabling companies to avoid incurring penalties, fines and sanctions by accurately identifying restricted parties before goods are shipped. By using the highly configurable, automated solution, companies can quickly screen their customers, suppliers and other trading partners against over 200 restricted party lists from governmental institutions worldwide.

About Vishay

Vishay Intertechnology, Inc., a Fortune 1,000 company, is one of the world's largest manufacturers of discrete semiconductors (diodes, MOSFETs, and infrared optoelectronics) and passive electronic components (resistors, inductors, and capacitors). These components are used in virtually all types of electronic devices and equipment, in the industrial, computing, automotive, consumer, telecommunications, military, aerospace, power supplies, and medical markets.

About Amber Road

Amber Road provides a single, on-demand platform that automates and streamlines global trade. By helping organizations to comply with country-specific trade regulations, as well as plan, execute and track global shipments, Amber Road enables goods to flow unimpeded across international borders in the most efficient, compliant and profitable way.

For more information, please visit www.AmberRoad.com or call (201) 935-8588.

Media Contact
Kathleen Hickey
202 607 7553
KathleenHickey@AmberRoad.com
or
Amber Road Contacts
Annika Helmrich (US & Canada)
201 623 9471
AnnikaHelmrich@AmberRoad.com
or
Martijn van Gils (Europe & Asia)
31 (0) 207997790
MartijnvanGils@AmberRoad.com

Source: Amber Road

SHARE THIS: Twitter StockTwits LinkedIn Google Plus SHORT URL: http://bdvt.co/bwLH

SIGN IN TO BOARDVOTE

FORGOT PASSWORD?