When COVID-19 hit in 2020, many businesses had to shift their operations online. This transformed the way we buy our goods and services. Our supply chains had to be quickly reconfigured to make sure our people had what they needed, and it shone a spotlight on how continued effort is needed to make sure our trade links remain resilient.
As part of this effort, we built the Networked Trade Platform (NTP) that allows for a seamless way to manage trade documents digitally.
Streamlining the Trading Process
Businesses that trade here are required to submit multiple documents to their trade partners, logistics providers, banks and financial institutions and Government agencies. This is a time-consuming process.
The NTP is a one-stop information management platform that offers a convenient, secure and seamless way of managing trade documents. It also includes networking features for local businesses to link up with local and foreign partners as well as share data and come up with new insights and services together.
Specifically, the NTP helps businesses to:
Innovate new services and applications based on market needs. Since the NTP is developed on an open architecture, third-party solution providers or IT developers can easily access toolkits and data to develop innovative solutions on top of this framework.
Share data across borders securely, giving rise to potentially exciting new insights for the industry.
Digitisation of documents quickly and securely, helping to cut costs and streamline processes.