USE CASES

Trade Finance

Automated document flow for cross-border trade.

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Problem

The value locked in global supply chains is accompanied by extensive paperwork. In modern globalized businesses, numerous financial instruments and products are involved in every supply chain. These documents are an important facilitator of international commerce and trade, enabling business transactions, especially between importers and exporters in different legal and financial environments. Due to non-unified documentation, the process is prone to discrepancies, leading to delays in processes. Up to 80% of delays in global supply chains is due to errors in documentation:

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Multiple stakeholders must cross-check to confirm a certain event;
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Rising complexities in global trade are making risk models more complex;
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Reactive measures are in place instead of preventive approaches to avoid discrepancies.

Solution

Automated document flow for trade process.

What is it?

A nOS-based automated system of data exchanges, confirming trade execution in an agreed-upon format. Automated data exchanges act as early discrepancy detection to avoid delays in financing. Additional data points from 3rd parties are creating a new foundation for calculating risk.

Technologies used

How does it work?

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Define required data sources and establish a data-sharing environment;
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nOS matches data across companies and runs consensus checks to ensure data consistency;
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Plug&play early-alert system for identifying discrepancies.

How does it boost efficiency?

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Easily discover and address discrepancies in documentation related to audits and compliance, thanks to end-to-end data visibility and consensus checks
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Establish more robust, efficient and agile audit processes (e.g. self-auditing optimisation)
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Streamline routine compliance checks (by customs authorities and other government agencies) by relying on data transparency and automation

What additional value does it bring?

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Increase customer trust by ensuring integrity of your audits, compliance checks and certificates at all times
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Ensure certificates you issue can easily be validated as authentic at any point in time by customers, consumers, regulators and other stakeholders
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Explore new business models in audit and compliance arena (e.g. auditing of different blockchain ecosystems)

Ecosystems & industries

Solution ecosystem

Audit and compliance agencies
Enterprises
Banks and other financial institutions
Government agencies
End-consumers

Applicable industries

Agriculture
Food
Vitamins and Supplements
Pharmaceuticals
Chemicals
FMCG
Personal Care and Cosmetics
Fashion
Automotive
Logistics & Supply Chain Management
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