Shifting business landscape and changing customer expectations are forcing the trade ecosystem to re-think existing operating models and business processes. Companies are facing compressed margins from labour-intensive paper-based processes and increasing cost of due diligence due to increasingly stringent compliance and regulatory requirements. On the same dime, companies are also constantly looking for shorter processing and turnaround time and risk mitigation to optimise their set-up.
As part of the digitalisation initiative by SCCCI, we have been working closely with GeTS (a subsidiary of Crimsonlogic) to digitalise the application of trade documents and to introduce additional services via SCCCI online portal (www.certoforigin.com).
Through this digitisation, manual, error-prone processes and man-hours can be reduced, enabling savings in time, logistics and other overheads. Overall greatly improving efficiency.
CertOfOrigin is a web-based Certificate of Origin (CO) application and certification system. It provides a single interface for exporters to apply for CO conveniently.
With CertOfOrigin, exporters can submit applications for CO from any computer. The integrated, electronic application process liberates the exporters from the manual tasks of submitting numerous supporting documents, physically monitoring the application status, and dispatching the document to the relevant parties after collecting the CO from the Authorised Organisation. The entire process is reduced from weeks to minutes, resulting in significant time and cost savings.
The Networked Trade Platform (NTP) is a national trade information management platform that provides the foundation for Singapore to be the world's leading trade, supply chain and trade financing hub. At its core, it represents a concerted effort to drive an industry-wide digital transformation to build a trade and logistics IT ecosystem which connects businesses, community systems and platforms and government systems. Specifically, it aims to be a:
- One-stop trade information management system linked to other platforms
- Next-generation platform offering a wide range of trade-related services
- Open innovation platform allowing development of insights & new services with cross-industry data
- Document hub for digitisation at source that enables reuse of data to cut costs and streamline processes
Event: The Path To Trade Digialisation
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Programme may be subjected to change nearer to date. Please look out for a confirmation email sent 1 week prior to the event.