FIBA, FELABAN CLACE Conference · 32nd FIBA, FELABAN CLACE Conference Presented by: ... Draft, Sign & Issue eB/L Bank Review 2 4 Bank Review 3 ... § eTrade Finance via eUCP Presentation,
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32nd FIBA, FELABAN CLACE Conference
Presented by: Marisa Martin, VP Americas
MIam i , May 23r d 2016 © 2016 essDOCS Exchange Limited
essDOCS is the leading enabler of Paperless Trade
Vision : To provide solutions and the infrastructurefor global digital trade and finance management
Why eDocs and not Paper DocsBelow is a case study from existing essDOCS customers:
Draft, Sign & Issue eB/L
Bank Review
2 4
Bank Review
3
eB/L + eUCP
Draft, Sign & Issue B/L Courier to BankBank
Review Courier to BankBank
Review Courier to Buyer
Elapsed Days: 3 5 6 8 9 11
Paper Documents
(Sailing Time from Australia to Shanghai) 11 days
1 2
BPO+TSU
Draft, Sign & Issue eB/L
Assumptions: Docs are created, signed and issued to shipper in two days with paper and one with eDocs; all courier times are two business day and takes one day for each party to process documents.
Also assumes no mistakes, rejections of documents!
This assumes no documentary discrepancies and 1 day review by bank. Customer’s average was 17 days; vessel & cargo almost always arrived before documents.
Discrepancies take hours to fix, not days, as all eDocs are online, so no need to return paper docs by courier, fix, re-courier, etc.
With BPO, people don’t check documents, TSU matches data, so review time is zero.
CargoDocs§ Secure, web-based Procure-to-Pay solution§ Two major functional modules:o DocPrep allows creation, review and
approval of documentso DocEx allows transfer of eDocs to other
users, including banks
§ Can be used for Shipments (i.e. electronic Bills of Lading) or Warehouses (i.e. eWarrants)
§ eTrade Finance via eUCP Presentation, eDocumentary Collection & BPO+
§ Users can integrate at various points to facilitate automation and STP
PAYMENT
FINANCE
SALE OF GOODS CONTRACT
SHIPMENT / INVENTORY
DocPrep
DATA
In Numbers
11
8
5-74%Years in operation
Average annual network growth
Up to
of the relevantfleets
60%Offices globally; 2 more opening 2016
12%of FORTUNEGlobal 500 Companies
3,700+Customers, incl. 29 Banking Groups; 70+ branches
Metals
Key CustomersCurrent focus on 5 key markets
Banks Agri
Energy Chemicals
5 of top 5 miners; 11 major steel producers
All super majors and most major traders
29 Banking groups70+ branches
5 of top 6 agrihouses
3 of top 5 chemical companies
55 CargoDocs Countries
17 Countries in Testing
8 essDOCS Offices
2 Opening in 2016
In Use
PRESENT eSET
TRANSFER
Issuing Bank
Shipper orFreight Forwarder
End Receiver/Buyer
Negotiating Bank
Ship owner or Agent
DRAFT
APPROVAL
eB/L Supporting eDocs
Workflow
CargoDocs
Cargo Delivery(B/L Accomplished)
Opportunities & Benefits§Automated and streamlined solution§Less risky, structured lending§Save time spent distributing, signing, couriering, storing and retrieving documents§Amendments within hours §Reduced DSO for your customers§Eliminate risk of lost or fraudulent documents §STP / automation (SWIFT-compatible)§Improved transparency and compliance§A new business channel – reintermediate banks into customers TF business, more
Preparation – agree trade route for testing; sign the Users Agreement (DSUA); provide User Information; agree TO-BE processes and customs requirements (loadport & disport); identify B/L template to be used and supporting docs; provide historic document examples
Training – 30 minutes web-training per user group. eLearning and Training videos are available to users should they require a refresheron key actions
Simulated Testing – eDocs replicating past transactions are created and run through the trade chain, to confirm the solution works for your trades
Live Testing – when simulations are successfully completed, you replace paper originals with eDocs in a trial trade (Note: support is available 24/7/365, as required)
Getting Started
Questions?
More information please contact:Marisa Martin
+ 1 732 539 2609marisa.martin@essdocs.com
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