IGTC survey on eDocs in Agri
The International Grain Trade Coalition (IGTC) recently released results from its online survey on 'Adoption of electronic documentation in the grain trade,' the first of its kind in the industry!
The survey was sent to all IGTC members, and participants were asked to complete one survey per company, considering only import and export transactions.
Members' responses yielded some very interesting findings, including, among others:
- Half of respondents stated they aim for at least 50% of their transactions to move to electronic documentation by 2018.
- Over half (67% of respondents) confirm they are currently using electronic trade documentation
- Adoption began no more than three years ago, and has continued well into 2016, with the most recent adoption reported three months ago
The ongoing survey was conducted within the framework of the IGTC's wider eDocs strategy, as determined by the recently-established IGTC Electronic Trading Documentation Working Group - a member's stakeholder group tasked with providing information and advice related to paperless trade in agri, as well as assisting in the improvement of transparent, secure and cost-efficient paperless trade systems.
With eDocs now a top priority for agribusiness, the survey's results reinforce the industry's commitment to investing all efforts in expanding the use of eDocs, including electronic Bills of Lading, across agri commodity trades globally.