Olam International goes live with CargoDocs
Leading global agri-business, Olam International, recently completed its first ever live transaction using CargoDocs electronic Bills of Lading (eB/Ls) combined with ePresentation.
The trade, executed towards the end of 2018, involved a bulk shipment of Brazilian soybeans exported from Brazil to China.
Olam International was the Trader in the transaction, which involved a Brazilian Shipper and a European Receiver.
Via the CargoDocs solution, Olam received an electronically endorsed eB/L from the Shipper based in Brazil, which was subsequently electronically endorsed by Olam to the Receiver. By using CargoDocs ePresentation under Bills for Collection, the eB/L and supporting documents were electronically presented by Olam to its bank, who subsequently ePresented the documents to the Receiver’s Collecting Bank.
Olam’s go-live with CargoDocs is a part of its company-wide digitization strategy covering various initiatives across businesses and countries within the organization. Via CargoDocs, Olam is aiming to achieve greater visibility and real-time monitoring of its trades, reduce operational risks arising from manual document handling, and reduce delays arising from physical movement of documents – thereby enabling the company to increase efficiency across its supply chain while benefiting from significant time and cost-savings.
We look forward to continuing to support Olam on its ongoing journey to digital transformation!