Cross-border trade is a complex process requiring the coordination of many stakeholders, including businesses and governments. CrimsonLogic (CL) is part of the PSA Group and a pioneer in the Singapore tech industry, offering a world-class, integrated Total Trade solution for both businesses and governments.
CL has offices spanning four continents and linkages to 61 Customs nodes globally, as well as over 30 years of international Trade Facilitation within the public and private sectors.
The international trade eco-system faces challenges that need to be addressed
In today’s supply chain, stakeholders face many challenges that may constrain the flow of goods. Increasingly complex regulatory requirements, inconsistencies across different data sources, and financial risks caused by cash flow and cargo put pressure on companies at different stages of the supply chain. As well as having to deal with limited visibility on the movement of goods, stakeholders are faced with time-consuming documentation and communication with other suppliers.
The implications of this are inaccurate documentations, leading to non-compliance and, ultimately, delays and higher costs within the supply chain. The complexity of the supply chain is further heightened by ongoing disruptions, such as geopolitical conflicts, trade wars, and of course the COVID-19 pandemic – which itself led to the rising demand for e-commerce transactions.
CrimsonLogic’s commitment to synthesising the supply chain with technology
To overcome these challenges, CL has developed an integrated Total Trade solution to help businesses and governments improve trade connectivity at all levels – G2G, G2B and B2B. enables holistic management of trade compliance regimes and requirements, from pre to post phases of trade, to optimise integration, interoperability, and efficiency.
CALISTA is a business-centric global trade management platform that serves shippers and logistics stakeholders. This network enables the careful orchestration of logistics, compliance and financial requirements of trade and supply chain – seamlessly, smartly, and securely.
On the other hand, CL’s Trade Facilitation Platform (TFP) is built to allow easier sharing of information, synergizing processes across customs, government agencies and the trade community for maximum integration and efficiency. The platform’s flexible architecture also allows governments to scale implementation according to their needs and readiness.
Ensuring that cross-border trade is seamless and predictable is crucial for the smooth operation of the supply chain. It’s therefore more important than ever that companies incorporate advanced technology into their processes to achieve end-to-end digitalisation of the entire supply chain.
Only then, once stakeholders adopt future-ready digital solutions to support sustainability, will the supply chain be able to navigate through these challenges and simplify the trade eco-system.
Disclosure: This article is an advertorial and monetary payment was received from CrimsonLogic. It has gone through editorial control and passed the assessment for being informative.
