Nike, the footwear and sportswear giant, has begun using TradeSphere, a global trade management module produced by Vastera.

The module essentially aims to automate the exchange of financial information between NIKE and its trading partners - brokers, banks, and factories via Vastera's Web-native Collaborative Platform. Information exchanged includes letter of credit (L/C) issuances and amendments, purchase orders, invoices, and customs entry information.

Nike says its rationale for choosing Tradesphere is that it will provide a predictable flow of imports, enhance its customs compliance operations and ensure timely and accurate payment to our suppliers. Automation in TradeSphere aims to enhance Nike's ability to validate and verify key information for an import transaction.

Automating global trade.

New York listed Vastera has been developing trade finance solutions since the mid-1990s. Its solutions include modular, web-native applications, trade management consulting and managed services that aim to streamline global trading activities.

A foundation of these solutions according to Vastera is Global eContent, a comprehensive, rules-based application of country-specific trade and regulatory data, which is maintained and updated daily. The company based in Virginia lists Ford, Alcatel, Dell, Fonterra, Lucent Technologies and Nortel Networks amongst its customers.

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