GSBN partners with Contour to offer end-to-end digital supply chain

GSBN signs deal to provide end-to-end digital supply chain

The Global Shipping Business Network (GSBN) has partnered with Contour to offer an end-to-end digital solution for all participants involved in trading, financing and shipping goods around the world.

In a statement, the GSBN said global lockdowns and the subsequent explosive growth in e-commerce have pushed the logistics industry to its limits, but “inefficient manual processes” are still leading to bottlenecks.

The partnership with Contour’s network, which digitises paper-based trade finance processes such as Letters of Credit (LCs), will drive interoperability for users of both solutions. By harnessing both solutions, corporates can experience a seamless connection between the physical supply chain and the financial system.

The partnership will support the entire workflow involved in trading goods around the world – from accessing trade finance and managing the documents underpinning the shipping process, to having goods released from a port. Participants including importers, exporters, logistics service providers, and financial institutions will all benefit from improved efficiency and reduced cost.

The GSBN’s large and growing footprint complements Contour’s established presence as a leading digital trade network across Asia and beyond. Contour continues to expand its network of partners across the region, and recently launched its first domestic offering in Bangladesh.

Carl Wegner, CEO at Contour, said, “The global logistics and shipping industry – like trade finance – is in critical need of digitization. Counterparties need to be able to interact with trust, certainty and security – both in the way they finance trades and in the processes that support the physical shipment of goods.

“The problems that have beleaguered global trade for years are slowly becoming a thing of the past as adoption of innovative digital technologies picks up pace. We look forward to working with GSBN to further accelerate this industry-wide shift”.

Bertrand Chen, CEO at GSBN, also commented, “Today’s global shipping industry is struggling to keep up with the rising complexities of supply chains, markets and economies.

“Digital transformation is key to addressing these challenges, but this can only be achieved by breaking down the different silos in the supply chain.

“This partnership with Contour breaks down another silo by connecting the physical supply chain to the underlying financial system. This will pave way for more trusted collaboration between market participants, as well as a more efficient and resilient global supply chain.”

Daily Email Newsletter

Sign up to our daily email newsletter to receive the latest news from Port Technology International.

Supplier Directory

Find out how to get listed

Webinar Series

Find out how to attend

Latest Stories

Cookie Policy. This website uses cookies to ensure you get the best experience on our website.