Advertisement

News Wire

Rogers Corporation Expands Use of Descartes’ Denied Party Screening Solution to Strengthen Global Trade Compliance

WATERLOO, Ontario(GLOBE NEWSWIRE)  — Descartes Systems Group (Nasdaq:DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, announced that Rogers Corporation, a global technology leader in engineered materials, has expanded its use of the Descartes MK Dynamic Screening™ solution to include Rogers’ integration of acquisitions, to mitigate the risk of conducting business with parties that may be subject to trade restrictions.

“Part of Rogers’ strategy for growth includes synergistic acquisitions and Descartes’ denied party screening solution helps us assess the compliance history of acquired companies,” explained Benjamin Buckley, Associate General Counsel & Director of Global Compliance and Integrity at Rogers Corporation. “Once acquisitions are integrated into the broader organization, they become subject to our corporate compliance practices. Descartes’ solution is used to dynamically and regularly screen all of the acquisition’s customer and vendor relationships to help mitigate the risk of transacting with sanctioned or restricted parties.”

When acquiring or merging with a business, companies take on compliance requirements for the acquired entity. With Descartes MK Denied Party Screening™ solutions, companies can automatically screen customer, vendor, supplier and employee data against a comprehensive database of restricted parties based on lists maintained by government agencies and international organizations. Organizations of all sizes can tailor screening to fit unique risk parameters and flag potential issues for resolution. Descartes’ solutions can also be integrated with other enterprise systems to streamline interdepartmental information sharing.

“We’re pleased that our solution is an integral part of Rogers’ global compliance practice,” said Ken Harris, Head of Denied Party Screening at Descartes Systems Group. “While often overlooked, acquisitions possess additional compliance risk. Given penalties for non-compliance can include fines, revocation of export privileges and criminal charges, using denied party screening with acquisitions helps companies, like Rogers, minimize regulatory exposure.”

0 comments on “Rogers Corporation Expands Use of Descartes’ Denied Party Screening Solution to Strengthen Global Trade Compliance

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.