Global eTradeServices: Facilitating Effective Digital Global Trade Connectivity
Chong Kok Keong, CEOAs a fully-owned subsidiary of CrimsonLogic (a leading provider of products and services in Trade, Legal and Digital Government), the company provides end-to-end services on one platform that manages the physical, regulatory and financial requirements of the entire supply chain ecosystem. The interoperable, neutral, and trusted platform helps to build trusted connections across multi-enterprise from governments, regulatory agencies to the trade communities. CALISTATM helps to facilitate data sharing between multiple stakeholders, the physical flow of goods and regulatory compliance, meaning that financial requirements can be fulfilled on one single platform. The enhanced efficiency, better cargo visibility, and automated handshakes, that the solution offers makes the trade process easier and more accessible.
With our solutions, our goal is to assist users to file manifest, manage, and exchange trade data and documents for seamless B2B and G2B trade compliance activities in Asia, U.S., and beyond
CALISTATM is delivered on a cost competitive SaaS model and can be accessed easily without the hassle of on-premise set-up. The platform enables customers to cut deals on their shipping requirements, arrange advance transshipment, book haulage services, re-use the data, and transform the data for trade declarations. They can even buy the insurance and produce invoices on the go as well. It is a seamless platform that customers can draw benefits aside from the usual freight booking. As a part of supply chain orchestration, GeTS offers three suites, namely Physical Logistics, Compliance, and Financial. Under the Physical Logistics, shippers/freight forwarders can initiate their cargo requirements, book their freight on the go, submit shipping information, and generate draft BL, which improves productivity and reduces error. On top of that, data used for cargo initiation can be populated for trade declaration, which helps to reduce manual data re-entry and reduce document errors. The Compliance suite allows for easier cross-border trade, and customs handshakes—the data is thus transformed to suit customs’ varying needs. Shippers who need to request for a certificate of origin or file e-manifests can easily do so on the platform, while it allows customers to access the necessary trade financing and insurance.
GeTS is continually evolving and will be rolling out advance solutions to drive better integration within the trade community and beyond, harnessing the power of technology and data. The company aims to continue its focus in Asia, North America, and Latin America while extending its outreach to Europe in the coming years. “Our network of connected customs, shippers, and carriers is growing. With our solutions, our goal is to assist users to file manifest, manage, and exchange trade data and documents for seamless G2B trade compliance activities in Asia, U.S., and beyond,” asserts Kok Keong. He further adds that shippers plying the route of International Land-Sea Transport Corridor (ILSTC) will be able to nurture better intermodal connectivity and integration and make seamless trade declarations.
Global eTradeServices News
Currently, trade facilitation is conducted via a TFP -- a one-stop platform that manages and facilitates trade processes between Government and the trade communities. However, the trade facilitation process is still very much government-driven; with the government organisations taking on the responsibility and making the investment to facilitate trade. As global trade gets more dynamic, there is increased convergence of interests between governments and businesses. For example, both governments and businesses share strong interest to address trade security, as the lack of it will negatively impact the economy and profits. The convergence of interests is encouraging businesses to be more willing to share and push data to governments, in which the information can be potentially used by the governments to enhance trade security.
With Single Window Mesh, it leverages on technology to lower the barrier for governments and businesses to better share data and collaborate digitally. It uses technologies such as AI-powered (Artificial Intelligence) RPA (Robotic Process Automation), blockchain and neural network algorithm to dynamically crawl, aggregate and co-relate structured and unstructured data across the entire trade eco-system, to use data at source effectively. It will consolidate and analyse data retrieved from transactions in real-time, fulfilling part of trade declaration process automatically and dynamically based on users' trading intent. This in turn ensures automatic and accurate Customs compliance and precise duty calculations for every specific trade. The accuracy of the Single Window Mesh can also compile a 360-degree risk assessment for Customs and related government agencies to mitigate the dangers of high-risk cargoes and lower the chances of unforeseen events.
Currently in development, Single Window Mesh will be added onto GeTS' CALISTA™. CALISTA™ is an interoperable, neutral and trusted B2G platform that enables supply chain orchestration across the world. With Single Window Mesh to be seamlessly integrated to CALISTA™ in the future, it will allow Traders to expedite cargo clearance at all ports, by fulfilling compliance requirements accurately and efficiently.
Kenya Trade Network Agency (Kentrade), a user of a Single Window developed by CrimsonLogic, is slated to be the first partner to pilot the Single Window Mesh on their national TFP.
Mr Chong Kok Keong, Chief Executive Officer of GeTS said: "As eCommerce and the Internet of Logistics growing at an unprecedented rate, we want to show a new of doing trade, and with Single Window Mesh as a break-through innovation on our growing CALISTA™ platform, that will make trade even more accessible, predictable and easier." Read more