DIGITALISATION OF TRADE WORKFLOWS

Before Chinsay it could take anywhere from a couple of weeks to more than a month to finalise all the Charter Party work. Now we are able to review, approve and sign a CP in a day if not in a couple of hours.

Chinsay’s system enables us to reach the full potential of our improved and recently-implemented process for risk and contract management. This is an important first step in our mission to digitalise our complete end-to-end Fuel Supply process. The most important factors for choosing Chinsay as a supplier are the simplicity and flexibility the system offers.

For Rio Tinto, Contract Lifecycle Management goes beyond the creation and administration of contracts. It includes dealing with our customers and suppliers on the same platform, and applying unique blockchain technology to seamlessly create and integrate financial, shipping and other transactional documentation. We have chosen Chinsay as a technology and development partner because of its thorough understanding of the commodities market, transaction flows, and a demonstrated unique approach to customer-centricity.

Chinsay’s independent platform will allow us to make faster decisions with better information and manage risk more effectively around Charter Parties. Technology is a core focus for Anglo American and we chose to partner with Chinsay based on their leading technology and long track record in secure digital contract management for the maritime freight industry.

With operations across the globe, we view Chinsay as an efficient and critical tool to ensure we achieve operational excellence in our contract operations.

Connectivity is a vital part of improving trade finance. Our network – and Contour’s aim – is to provide access for all different parties within the trade finance industry. The success of our work with Chinsay shows the possibility that revolutionising the industry can bring. Both banks and corporates – large or small – are not exempt from the benefits a unified network provides.