Athletic apparel and equipment leader Nike Inc is hoping to streamline its international goods movement and financial settlement process with Vastera Inc's TradeSphere Finance and Importer modules.

"Being able to import goods with predictability from our suppliers and manage the associated financial settlement process effectively is critical to our success as a global company," said Gordon Steele, CIO and vice president of information technology, Nike Inc.

"By utilising TradeSphere, Vastera's integrated solution for global trade, we have been able to enhance our Customs compliance operations through automation, collaborate effectively with trading partners, and ensure timely and accurate payment to our suppliers."

TradeSphere automates the exchange of important 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 issuances and amendments, purchase orders, invoices, and customs entry information.

Automation in TradeSphere enhances Nike's ability to validate and verify key information for an import transaction.