Singapore, Oct. 19, 2022 (GLOBE NEWSWIRE) -- CrimsonLogic, a global trade facilitation solution provider headquartered in Singapore, launches its Cross-Border E-Commerce (CBEC) program at the World Customs Organization Technology Conference held in the Netherlands. The company will implement pilot runs of its E-Commerce solution for Kenya Trade Network Agency (KenTrade), the Kenyan government agency in charge of managing the National Electronic Single Window System for Trade and facilitating trade logistics.
Developed to respond to the boom in global e-commerce trade volume, the Cross-Border E-Commerce (CBEC) program utilizes Intelligent Data Extraction to digitize data from trade documents and maps the data into a format compatible with Customs authorities’ platforms. Simplified and automatic data submission can then be made via a Single Window system to Customs and other stakeholders, which reduces duplication of work. Tapping on Artificial Intelligence, Machine Learning and Big Data Analytic tools and techniques, a 360 degree real-time risk assessment can also be performed to ensure utmost security and compliance.
The CBEC program is modular and can be integrated into existing digital systems being used by Customs authorities globally, and helps authorities maintain a high degree of control and visibility over the movement and clearance of large quantities of goods.
It also enables Customs authorities to be connected with other government agencies as well as businesses, with the ability to scale with ease, in order for both the public and private sectors to enhance their competitiveness on the global stage.
“We look forward to our partnership with CrimsonLogic in piloting the Cross-Border eCommerce solution,” said David Ngarama, Acting CEO of KenTrade. “With this solution, we hope to further ease the flow of eCommerce cargo for our business community, while tapping on CrimsonLogic’s technology to ensure traceability and accountability of shipments coming in and out of our borders.”
“We are excited to partner with KenTrade in enabling greater efficiency in the cross-border flow of eCommerce goods for Kenya,” said Lawrence Ng, CEO of CrimsonLogic. “The sheer volume of data, coupled with multiple individual traders, makes the regulation of eCommerce trade complex and time-consuming. But by utilizing advanced Artificial Intelligence, Machine Learning and Optical Character Recognition technology, fused with decades of expertise in trade facilitation, we are confident of easing the flow of goods across borders while assisting customs authorities to ensure a high degree of compliance and efficiency.”
CrimsonLogic’s CBEC program dovetails into the company’s overarching vision of “Total Trade”—a term coined by CrimsonLogic, which refers to the end-to-end value chain of cross-border trade, across government and business segments. CrimsonLogic’s “Total Trade Platform” harnesses the company’s three decades of expertise in trade facilitation & digital technologies, to help governments and businesses improve levels of control, connectivity and competitiveness in global trade.
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