Helping e-commerce grow by facilitating global trade
CrimsonLogic was awarded in this year’s SBR Technology Excellence Awards.
The past few years have seen exponential growth in global e-commerce, resulting in higher trade volumes that challenge efficient processing and shipping. CrimsonLogic saw this challenge and decided to develop the Cross-Border E-Commerce (CBEC) programme which uses intelligent data extraction to digitise data from trade documents in order to transform and map them into a format compatible with customs authorities’ platforms.
By providing a solution to make trade easier and more convenient, CrimsonLogic responded to the market’s demand and managed to win the Digital - Logistics Award at the 2023 SBR Technology Excellence Awards.
The awards programme recognises the efforts and achievements of companies in Singapore in transforming their businesses with digital capabilities and leading the way to a digital future for the business. CrimsonLogic distinguished themselves from the competition by tapping into artificial intelligence, machine learning, and NLP tools and techniques to develop their CBEC programme.
CrimsonLogic’s CBEC programme acts as a modern and intelligent solution for traders and OGAs (Other Governmental Agencies) to submit, process, and issue trade permits or LPCOs (Licenses, Permits, Certificates and Others) digitally. As a one-stop facility for information exchange between traders and government agencies involved in international trade, the CBEC programme manages all aspects of customs processes such as imports, exports, transshipments, and transits digitally and in accordance with legislation.
As a trusted trade facilitation platform, it relies on advanced, digital solutions to orchestrate the movement of goods worldwide more efficiently and safely.
A 360-degree real-time risk assessment can be performed with the CBEC programme to ensure expedited clearance of shipments without compromising on security measures and other compliance risks. Early data acquisition and simplified data submissions can also be made via the e-Commerce Gateway, further speeding up the process without sacrificing any conveniences.
The CBEC programme is also modular, allowing it to be easily integrated into existing digital systems that are employed by customs authorities around the world. This also helps authorities maintain a high degree of control, traceability, and visibility over the movement and clearance of e-commerce shipments and goods.
Customs authorities can also connect with OGAs as well as businesses in order for both public and private sectors to enhance competitiveness on the global stage. Currently, Free Trade Zone Authorities and operators use the CBEC programme to exchange information electronically with users and traders.
CrimsonLogic’s vision of ‘Total Trade’ is reflected in the CBEC programme which facilitates the end-to-end value chain for cross-border trade across governments and business segments. This Total Trade platform demonstrates the company’s capabilities in trade facilitation and digital technologies that help governments and businesses improve their control, connectivity, and competitiveness in the global market.
The SBR Technology Excellence Awards is presented by Singapore Business Review Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for your company's outstanding contributions in pursuit of technological innovation, please contact Jane Patiag at firstname.lastname@example.org.