Date : 23-Sep-2020
Location: Singapore
Organization:
vCargo Cloud (“VCC”), headquartered in Singapore, VCC is the leading Infocomm Technology (“ICT”) solutions and service provider in Asia, specialising in technological solutions for governments and enterprises worldwide, in the domain of trade and logistics.
Key Takeaways:
Singapore’s vCargo Cloud Pte. Ltd. (“VCC”) has announced the launch of GUUD –— a new group of companies and technology platform aimed at simplifying complicated trade processes globally and reimagining them to drive greater efficiency and inclusivity in the digital world.
Offering:
- GUUD references the UN/ CEFACT Buy-Ship-Pay model to cover all aspects of trade facilitation. In line with its vision to Trade for Good, the philosophy is to enable all businesses, especially micro, small and medium enterprises (MSMEs), to become players in global trade by reducing red-tape, eliminating middlemen and providing greater access to logistics and financial services.
- The GUUD platform does this by streamlining all processes relating to trade, including compliance, shipping, financing and payments through an integrated platform which allows businesses to submit documents quickly and seamlessly book and track their shipments every step of the way, while better managing their overall costs.
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| GUUD - Buy-Ship-Pay Model |
Spokepersons:
Desmond Tay, CEO, GUUD, said,by creating an end-to-end platform which encapsulates the entire trade lifecycle, GUUD will accelerate the region’s post-pandemic recovery through robust, inclusive and resilient trade. It will also empower MSMEs to cope with the onerous compliance requirements and trade processes which are notoriously complicated and tedious.
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| GUUD CEO Desmond Tay Officiating The Launch |
Insights:
- The launch of GUUD is also supported by renowned local partners and government agencies including Enterprise Singapore, Infocomm and Media Development Authority (IMDA), Singapore Customs (NTP Office), and Singapore Cooperation Enterprise (SCE).
- vCargo Cloud has achieved many firsts including the launch of Seafood Xchange, Singapore’s first B2B seafood e-marketplace for seafood traders. CamelONE™ Trade Finance, launched in November 2019 is the first unified multi-bank trade finance portal in Southeast Asia while vCargo Cloud’s Smart eCO solution is the world’s first blockchain-enabled eCertificate of Origin.
- Currently vCargo Cloud handles 16 percent of all trade declaration permits in Singapore, while working with seven of the world’s 10 largest freight forwarders.
- Participating businesses need to go through application processes for verification and quality check.
Editor's comments:
- The mission is to empower micro businesses to outreach and grow, as well as protecting global economies from interferences such as bad quality raw material.
- The UN/ CEFACT Buy-Ship-Pay model entails fair trade and opportunities for everybody; besides that, trade financing options are available.
- Think of it as a B2B marketplace platform.
- As a manufacturer, you don't have to worry about raw material acquisition,finance and logistics,it will be in good hands.
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