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vCargo Cloud: Simplifying Cross-Border Trade
In cross-border trade and logistics, predicting customs duties in other countries while exporting and importing goods is a herculean task. As each government has their own set of rules and regulations, the trader’s time is mostly spent on documenting the transport items. To overcome these impediments, traders are demanding a solution that facilitates smooth and unhindered flow of goods and information between merchants along the trade routes. Catering to this demand, Singapore-based vCargo Cloud (VCC) offers both governments and business organizations a secure cloud-based logistics platform which provides trade and logistics information pipeline to the stakeholders that includes traders, shipping lines, government agencies, freight forwarders, and warehouses.
VCC’s intelligent and open trade platform, CamelONE, enables traders to conduct business efficiently which makes the existing manual processes with multiple control agencies redundant. “CamelONE acts as the central hub facilitating transactions and information exchange between stakeholders,” says Desmond Tay, CEO, vCargo Cloud. The platform creates new business opportunities for cross-border trade by integrating trade processes and trade-related information in different companies across various regions. Disrupting the traditional trading approach, CamelONE normalizes different message structures that are used by diverse stakeholders in a common, internationally-compliant format and converts the information back to proprietary format when needed. CamelONE provides a set of trade-related functionalities for business-to-government (B2G)/Government-to-Government (G2G) compliance, business connectivity, and systems integration.
CamelONE is the central hub that facilitates transactions and information exchange for stakeholders to easily connect to one another
Because of its trade neutrality between vendors, CamelONE secures data privacy and confidentiality.
CamelONE comprises three core pillars: trade facilitation platform, cargo community platform, and industry-specific e-commerce. The trade facilitation platform has a B2G/ G2G business model that caters to customs clearance, cross-border trades, and information exchange at the government level. The platform serves as a National Single Electronic Window (NSW) solution to help codify the regulatory requirements within a single trade system, from which stakeholders can establish the rules and contacts with other trade agencies. NSW enables corresponding agencies navigate trade without paper-related complexities such as import and export permits, customs declarations, certificates of origin (CO), commercial invoices, and packing lists.
Built on B2G and B2B standards is the CamelONE’s third pillar—e-commerce. It is a one-stop integrated solution that helps coordinate the relevant buyers and sellers to efficaciously perform cross-border trades from online portals to stakeholders’ backend systems across the supply chain workflow. Additionally, CamelONE also provides an international electronic trade document (EDI), CO, as a sign of online approval for the traders confirming that the goods in a particular shipment have been manufactured or processed in a particular country. Using QR code and microprint features, the EDI process overcomes the problems that may arise in the traditional paper-based method of cross-border trading. Further, forming a consortium with companies such as DHL and Avago, VCC helps multinational corporations optimize workflow processes, enhance business efficiency, and comply with the international standards in overseas operations.
Providing seamless logistics solutions to varied stakeholders in the supply chain industry, VCC aims to be the supply chain technology provider that companies seek for in the digitalization of supply chain processes. For the future, VCC is planning to add new functionalities to their platform by leveraging blockchain technology. With blockchain, the information collected in CamelONE will be prevented from unauthorized alterations, making the information immutable. Blockchain will also provide more credential and authenticity to users of information in CamelONE. “As part of our expansion plans, we are also working with African countries—such as Kenya, Tanzania, Uganda, Rwanda, and Burundi—to deploy NSW and e-freight solutions for their unique customs and logistics needs,” concludes Tay.