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EAST RUTHERFORD, NJ, May 11, 2011 -- Management Dynamics, a leading provider of global trade
management solutions, today announced that Metso's Automation business line has implemented a
Restricted Party Screening (RPS) program powered by Management Dynamics' Export On-Demand solution. The
new implementation automates the RPS process for all of its Automation business line's worldwide operations
spanning 200,000 trading partners.
Metso's Automation business line
specializes in process industry
flow control solutions,
automation and information
management application networks
and systems as well as life
cycle performance services. Its
main customers are energy, power
and oil and gas industries as
well as the pulp and paper
industry.
With technologically and
geographically diverse
operations and more than 200,000
trading partners worldwide,
Metso is sensitive to the
potential risks of trading with
restricted parties. The company
previously depended on partially
automated RPS procedures, but
struggled with a high rate of
false positive hits that
required time-consuming manual
reviews.
"Having seen the benefits of
partially automated screening,
we knew that we could get far
more out of a highly automated
solution," said Ralf Liljestrand,
Trade Compliance Manager at
Metso. "But it was clear to us
that automation had to go hand
in hand with high accuracy.
Management Dynamics showed us we
could minimize false positive
hit rates from 20 percent to
levels as low as 0.5 percent,
far lower than our previous
approach and what we had seen
with other vendors. We feel very
confident entrusting Management
Dynamics with this key aspect of
our efforts to limit Metso's
risk exposure."
False positives are partner
matches which, upon further user
review, are determined to not be
actual denied parties.
Minimizing these is a key
requirement with a large number
of entities.
The Restricted Party Screening
module of Management Dynamics'
comprehensive Export On-Demand
solution enables Metso to
automatically check against 175
restricted party screening lists
from around the world. In the
future, according to evolving
needs, Metso can easily further
automate its global trade
management by adding Global
Product Master and License
Management modules.
Nathan Pieri, Management
Dynamics' Senior Vice President
of Product Management and
Marketing, commented:
"Organizations that have complex
global businesses and hundreds
of thousands of trade partners
need more advanced screening
technologies and workflow
solutions to productively manage
trade compliance. With our
Restricted Party Screening
module now live in Metso's
Automation business, we look
forward to the opportunity to
help other units within Metso
Corporation reduce risk exposure
and gain efficiencies by
automating their global trade
export processes."
About Metso
Metso is a global supplier of
sustainable technology and
services for mining,
construction, power generation,
automation, recycling and the
pulp and paper industries. The
company has 28,500 employees in
more than 50 countries.
Automation business line is a
part of Metso Corporation's
Energy and Environmental
Technology Segment. Metso's
other business segments are
Paper and Fiber Technology and
Mining and Construction
Technology. Metso shares are
traded on the Helsinki Stock
Exchange.
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