CGI receives U.S. patent for its end-to-end trade & supply chain solution CGI Trade360
Patent rights give CGI competitive position in providing best-in-class trade services technology to banks
CGI Group Inc. (NYSE: GIB) (TSX: GIB.A), a leading provider of information technology and business process services, today announced it was issued a patent in the United States for CGI Trade360®. This is the second patent CGI has obtained for its trade services technology. The first patent was granted in 2004 for Object Tradeline, now part of CGI Trade360. The patent protects CGI’s exclusive rights to the object-oriented trade finance system designed to support clients with global, large-scale transactional workflow.
“CGI has proved itself to be ahead of the curve in trade finance, delivering Trade360 as a Software as a Service in a highly-secure, community cloud for over 10 years,” said Steven Starace, Vice-President, CGI. “This patent underscores our commitment to driving innovation in the trade services market and delivering solutions that meet our clients’ evolving business needs, so they can stay up-to-date with technological and functional advances at significantly reduced total cost of ownership.”
For 35 years, CGI has provided IT, business process and managed services to financial institutions around the world, including 23 of the top 25 banks in the Americas and 16 of the top 25 European banks. CGI banking-focused solutions include core banking, wealth management, trade finance, business intelligence/data warehousing and customer relationship management.
About CGI Trade360®
CGI has been innovating Software as a Service (SaaS) solutions for more than 10 years with CGI Trade360, the only proven, end-to-end automated global trade and supply chain finance solution. Delivered in a secure community cloud, Trade360 processes over 2 million transactions annually for users in more than 30 countries, spanning, North America, Europe, Asia and Oceania. Trade360 enables banks to bring all of their branches across the globe onto a single solution, and to quickly roll out a wide range of functionality including support for open account payments, enhanced Purchase Order/Invoice management and matching, and comprehensive supply chain financing capabilities including, pre-shipment, receivables, post-shipment, and trade payables financing.
Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 31,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices and centers of excellence in Canada, the United States, Europe and Asia Pacific. As at September 30, 2011, CGI's revenue was $4.3 billion and its order backlog was $13.5 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in both the Dow Jones Sustainability Index and the FTSEXGood Index. Website: www.cgi.com.
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Global Communications and Investor Relations
Vice-President, US Communications