Did you know that there are up to 40 different documents in a typical trade transaction or that a transaction can take up to 2-3 months to complete?
The trade system today is slow, inefficient, and costly but this situation is changing fast with legal barriers being removed to enable electronic transactions to happen in minutes not months and documents being standardised enabling information to flow end to end across global supply chains in a way that has not been possible before.
This creates an exciting new opportunity for corporate treasurers to benefit from better control and manage cash, reduced supply chain risk and more accurate end to end data across the global supply chain through faster, electronic trade transactions.
Want to Know More?
ICC United Kingdom, who spoke at the recent EACT - European Association of Corporate Treasurers Summit in Brussels, would like to share some further information on the digitalisation of trade and leveraging electronic transactions in corporate treasury.
Over 50 corporate treasurers attended the breakout sessions and learned that due to legal reform, the digitalisation of trade transactions is happening at an increasing rate. The speakers highlighted 16 case studies published in the “Seizing the moment” report launched in November 2023 which demonstrate practical examples of what companies are able to do differently.