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EAST RUTHERFORD, NJ, February 19, 2013 -- 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.
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