Amber Road reduces net loss

The global trade management software provider grows Q2 revenues by $1.4 million.    Amber Road Inc., a global trade management software provider, softened its net loss in the second quarter of 2018 to $3.2 million, compared to a $4.5 million loss for the second quarter of 2017.
    Second-quarter revenues for the second quarter of 2018 totaled $21.1 million, up from $19.7 million for last year’s second quarter.
   Amber Road provides trade compliance and global logistics software to importers and exporters. The company is based in East Rutherford, N.J., and went public in 2014.
   “Global trade is experiencing unprecedented levels of uncertainty, confusion and escalating costs, and we have built a business that can help enterprises respond to these ever-changing macro global trade events,” Amber Road CEO Jim Preuninger said.
   “We had healthy deal closures, adding a number of new customers and expanding our relationship with many existing ones,” Preuninger added.
   In April, Amber Road announced that Pilot Freight Services went live with its export on-demand solution to automate the restricted-party screening process.
   Amber Road in May released the Export On-Demand University & Research Edition, specifically designed to help colleges or universities with a scientific research program, foreign visiting researchers, foreign students, international research collaborations and overseas campuses manage their export and deemed export compliance programs, license requirements and product classification.
   In June, it announced a partnership with Dow Jones Risk & Compliance to offer enhanced restricted party screening. Amber Road integrated Dow Jones Risk & Compliance’s Sanctions Ownership Research list within its global knowledge database.   
   “The addition of Dow Jones’ SOR list to the screening process will help our customers stay in compliance and avoid doing business with firms owned in part or wholly controlled by sanctioned persons,” said Ty Bordner, senior vice president of marketing and business development for Amber Road. “The Dow Jones SOR list goes beyond the industry standard and government requirements by including all individual ownership stakes of 10 percent or more.”