Baker Hughes NYSE: BHI is the world's third-largest oilfield services company behind Schlumberger & Halliburton, its main competitors. Baker Hughes provides the world's oil & gas industry with products and services for drilling, formation evaluation, completion and production. Baker Hughes operates in over 90 countries worldwide mainly based in countries with a mature petroleum industry as is the case with most oil & gas service companies.
About Management Dynamics, Inc.
Management Dynamics is a leading provider of global trade management solutions that improve the performance of global supply chains for importers, exporters, logistics service providers, and carriers. The company's solutions synchronize the flow of information among trading partners, optimize supply chain execution decisions, and streamline import and export processes to ensure regulatory compliance and minimize cost and risk involved in cross-border transactions. Management Dynamics' time-proven solutions are used by more than 13,000 global users at some of the world's most successful 3PLs, carriers, manufacturers, retailers, and high technology companies.
Baker Hughes Selects Management Dynamics to Automate Trade Compliance.
EAST RUTHERFORD, N.J. -- Management Dynamics, a leading provider of global trade management solutions, today announced that Baker Hughes Incorporated (NYSE :BHI),a leading services provider to the worldwide oil and gas industry, has selected Management Dynamics' Global Trade Compliance solution suite to automate import and export compliance for shipping to over 70 countries as part of a corporate-wide commitment to compliance.
With an international distribution network, Baker Hughes is required to maintain ongoing compliance with both U.S. and foreign trade regulations. To accomplish this, Baker Hughes is planning a worldwide deployment to integrate Management Dynamics' Global Trade Compliance solution suite with its SAP enterprise resource planning system. system. Baker Hughes expects to take advantage of operational efficiencies such as minimizing human error and eliminating time-consuming manual tasks to allow its logistics team to spend more time on strategic initiatives.
After carefully evaluating its needs and several global trade management software applications on the market, Baker Hughes selected Management Dynamics. "Global trade content coverage, functionality, and scenario testing were some of the key factors pointing to Management Dynamics," said Bryan Schillinger, Senior Trade Director and Legal Counsel for Baker Hughes. "Management Dynamics had broad global trade content, and a demonstrated process for keeping it current. Its architecture reflected a true understanding of the needs faced by our trade practitioners. And when we asked some of the vendors to show how their software resolved various scenarios using sample data, Management Dynamics performed perfectly, even in scenarios that were designed to be difficult."
Management Dynamics' Trade Compliance Solution will meet Baker Hughes' key requirements for automating import and export compliance, including:
* Automation of many import and export processes across its worldwide enterprise;
* Integration with Baker Hughes' SAP ERP system, providing the scalability to accommodate hundreds of users and high transaction volumes with around-the-clock access; and
* Comprehensive, in-depth, up-to-date global trade content that covers all international business rules including tariff and contract rates, preferential duties and taxes for calculating total landed cost, import and export controls, harmonized system content, economic sanction screening, restricted parties lists and all trade documents required for cross-border commerce.
"Today, global companies have identified corporate compliance as a key initiative and an essential technology expense as compliance mandates continue to flourish," said Jim Preuninger, CEO of Management Dynamics. "Baker Hughes understands the urgency and is leading the oil and gas industry in the movement towards automating compliance on a global level."
Implementation of an ERP System
Implementing an ERP system in an organization is an extremely complex process. It takes lot of systematic planning, expert consultation and well structured approach. Due to its extensive scope it may even take years to implement in a large organization. Implementing an ERP system will eventually necessitate significant changes on staff and work processes. While it may seem practical for an in-house IT administration to head the project, it is commonly advised that special ERP implementation experts be consulted, since they are specially trained in deploying these kinds of systems.
Organizations generally use ERP vendors or consulting companies to implement their customized ERP system. There are three types of professional services that are provided when implementing an ERP system, they are Consulting, Customization and Support.
• Consulting Services - are responsible for the initial stages of ERP implementation where they help an organization go live with their new system, with product training, workflow, improve ERP's use in the specific organization, etc.
• Customization Services - work by extending the use of the new ERP system or changing its use by creating customized interfaces and/or underlying application code. While ERP systems are made for many core routines, there are still some needs that need to be built or customized for a particular organization.
• Support Services - include both support and maintenance of ERP systems. For instance, trouble shooting and assistance with ERP issues.
References:
http://encyclopedia.thefreedictionary.com/Baker+Hughes
http://www.thefreelibrary.com/Baker+Hughes+Selects+Management+Dynamics+to+Automate+Trade+Compliance.-a0161511170
http://www.topbits.com/erp.html
About Management Dynamics, Inc.
Management Dynamics is a leading provider of global trade management solutions that improve the performance of global supply chains for importers, exporters, logistics service providers, and carriers. The company's solutions synchronize the flow of information among trading partners, optimize supply chain execution decisions, and streamline import and export processes to ensure regulatory compliance and minimize cost and risk involved in cross-border transactions. Management Dynamics' time-proven solutions are used by more than 13,000 global users at some of the world's most successful 3PLs, carriers, manufacturers, retailers, and high technology companies.
Baker Hughes Selects Management Dynamics to Automate Trade Compliance.
EAST RUTHERFORD, N.J. -- Management Dynamics, a leading provider of global trade management solutions, today announced that Baker Hughes Incorporated (NYSE :BHI),a leading services provider to the worldwide oil and gas industry, has selected Management Dynamics' Global Trade Compliance solution suite to automate import and export compliance for shipping to over 70 countries as part of a corporate-wide commitment to compliance.
With an international distribution network, Baker Hughes is required to maintain ongoing compliance with both U.S. and foreign trade regulations. To accomplish this, Baker Hughes is planning a worldwide deployment to integrate Management Dynamics' Global Trade Compliance solution suite with its SAP enterprise resource planning system. system. Baker Hughes expects to take advantage of operational efficiencies such as minimizing human error and eliminating time-consuming manual tasks to allow its logistics team to spend more time on strategic initiatives.
After carefully evaluating its needs and several global trade management software applications on the market, Baker Hughes selected Management Dynamics. "Global trade content coverage, functionality, and scenario testing were some of the key factors pointing to Management Dynamics," said Bryan Schillinger, Senior Trade Director and Legal Counsel for Baker Hughes. "Management Dynamics had broad global trade content, and a demonstrated process for keeping it current. Its architecture reflected a true understanding of the needs faced by our trade practitioners. And when we asked some of the vendors to show how their software resolved various scenarios using sample data, Management Dynamics performed perfectly, even in scenarios that were designed to be difficult."
Management Dynamics' Trade Compliance Solution will meet Baker Hughes' key requirements for automating import and export compliance, including:
* Automation of many import and export processes across its worldwide enterprise;
* Integration with Baker Hughes' SAP ERP system, providing the scalability to accommodate hundreds of users and high transaction volumes with around-the-clock access; and
* Comprehensive, in-depth, up-to-date global trade content that covers all international business rules including tariff and contract rates, preferential duties and taxes for calculating total landed cost, import and export controls, harmonized system content, economic sanction screening, restricted parties lists and all trade documents required for cross-border commerce.
"Today, global companies have identified corporate compliance as a key initiative and an essential technology expense as compliance mandates continue to flourish," said Jim Preuninger, CEO of Management Dynamics. "Baker Hughes understands the urgency and is leading the oil and gas industry in the movement towards automating compliance on a global level."
Implementation of an ERP System
Implementing an ERP system in an organization is an extremely complex process. It takes lot of systematic planning, expert consultation and well structured approach. Due to its extensive scope it may even take years to implement in a large organization. Implementing an ERP system will eventually necessitate significant changes on staff and work processes. While it may seem practical for an in-house IT administration to head the project, it is commonly advised that special ERP implementation experts be consulted, since they are specially trained in deploying these kinds of systems.
Organizations generally use ERP vendors or consulting companies to implement their customized ERP system. There are three types of professional services that are provided when implementing an ERP system, they are Consulting, Customization and Support.
• Consulting Services - are responsible for the initial stages of ERP implementation where they help an organization go live with their new system, with product training, workflow, improve ERP's use in the specific organization, etc.
• Customization Services - work by extending the use of the new ERP system or changing its use by creating customized interfaces and/or underlying application code. While ERP systems are made for many core routines, there are still some needs that need to be built or customized for a particular organization.
• Support Services - include both support and maintenance of ERP systems. For instance, trouble shooting and assistance with ERP issues.
References:
http://encyclopedia.thefreedictionary.com/Baker+Hughes
http://www.thefreelibrary.com/Baker+Hughes+Selects+Management+Dynamics+to+Automate+Trade+Compliance.-a0161511170
http://www.topbits.com/erp.html
