Science & Technology
Science and Technology
Science and Technology
Wed, February 4, 2009
Digital River Enhances its Global E-Commerce Platform with Industry-Leading Regulatory Fee Management Tool
MINNEAPOLIS--([ BUSINESS WIRE ])--Digital River, Inc. (NASDAQ: DRIV), a leading provider of global e-commerce solutions, today announced that it has enhanced its global e-commerce platform with one of the e-commerce industry's first comprehensive, automated regulatory fee management tools. This tool enables consumer electronics (CE) manufacturers that are selling products online in Europe and North America to administer, collect and remit fees in compliance with complicated copyright, electronic equipment end-of-life recycling (WEEE) and battery recycling regulations. Companies failing to meet these regulations, which vary by country, can be subject to fines and prosecution, and prohibited from selling online.
"With this new regulatory tool, we are breaking down barriers for consumer electronics companies entering online channels. We are helping them manage financial risk and operational complexity to speed time-to-market," said Joel Ronning, Digital River's CEO. "In fact, some of our clients have said they would not be selling online in Europe without this tool and Digital River's expertise in this area. Based on the early positive feedback we have received from our clients, we believe this tool has the potential to set a new standard for world-class e-commerce services in the high-tech market."
The fee management tool is an integrated part of the DR globalCommerce™ command console, a self-service, web-based remote control toolset used for managing the daily operations of a Digital River® e-commerce solution. The tool:
- Houses a central database with the regulatory fees and their product- or country-specific mandates;
- Provides merchants an administration tool so they can easily attach fees to products and display them on required web pages in the appropriate markets;
- Integrates with accounting and tax systems to streamline fee accounting and reconciliation; and
- Tracks sales and collected fees by local compliance scheme to help merchants manage the complex requirements related to reporting and fee remittance.
"There is heightened market awareness and increasing risk today in dealing with the recycling and environmental regulations that surround the online sale of electronics products," added Ronning. "By drawing upon our global e-commerce expertise, we can help consumer electronics manufacturers meet the green standards for their industry."
About Digital River, Inc.
Digital River, Inc., a leading provider of global e-commerce solutions, builds and manages online businesses for software publishers, consumer technology manufacturers, distributors, online retailers and affiliates. Its multi-channel e-commerce solution, which supports both direct and indirect sales, is designed to help companies of all sizes maximize online revenues as well as reduce the costs and risks of running an e-commerce operation. The Company's comprehensive platform offers site development and hosting, order management, fraud management, export controls, tax management, physical and digital product fulfillment, multi-lingual customer service, advanced reporting and strategic marketing services.
Founded in 1994, Digital River is headquartered in Minneapolis with offices in major U.S. cities as well as Cologne, Germany; London, England; Shannon, Ireland; Luxembourg, Luxembourg; Stockholm, Sweden; Taipei, Taiwan; Tokyo, Japan; and Shanghai, China. For more details about Digital River, visit the corporate Web site at [ www.digitalriver.com ] or call 952-253-1234.
Digital River is a registered trademark and DR globalCommerce is trademark of Digital River, Inc. All other company and product names are trademarks, registrations or copyrights of their respective owners.
