Executive Briefings

Inttra Debuts Multi-Party Electronic Bill of Lading for Ocean Freight

Inttra, provider of an independent platform for booking and managing ocean freight, has created what it says is the industry's first standardized electronic bill of lading.

The company is partnering with the Society for Worldwide Interbank Financial Telecommunication (SWIFT), a third-party platform which allows for the transmission of documents between banks, and Bolero, a supply-chain financing service which offers a means of engaging in paperless trading between global buyers, sellers, financial institutions and logistics service providers. The deal links Inttra's global network of carriers, shippers and forwarders with 10,000 SWIFT member banks and 45 bolero-enabled trade-finance institutions. Using the Inttra e-B/L process, sellers and exporters can speed up the order-to-cash cycle, reduce days sales outstanding and reduce or eliminate courier and discrepancy fees, the vendor said. The new process can impact more than 15 million ocean shipments that rely on courier delivery of paper bills of lading each year. Inttra is used by more than 30 carriers and non-vessel operating common carriers, as well as their customers, to standardize processes for shipping through a network of more than 30,000 locations. More than 500,000 container orders are initiated on the platform each week, Inttra said.

Read Full Article

The company is partnering with the Society for Worldwide Interbank Financial Telecommunication (SWIFT), a third-party platform which allows for the transmission of documents between banks, and Bolero, a supply-chain financing service which offers a means of engaging in paperless trading between global buyers, sellers, financial institutions and logistics service providers. The deal links Inttra's global network of carriers, shippers and forwarders with 10,000 SWIFT member banks and 45 bolero-enabled trade-finance institutions. Using the Inttra e-B/L process, sellers and exporters can speed up the order-to-cash cycle, reduce days sales outstanding and reduce or eliminate courier and discrepancy fees, the vendor said. The new process can impact more than 15 million ocean shipments that rely on courier delivery of paper bills of lading each year. Inttra is used by more than 30 carriers and non-vessel operating common carriers, as well as their customers, to standardize processes for shipping through a network of more than 30,000 locations. More than 500,000 container orders are initiated on the platform each week, Inttra said.

Read Full Article