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HomeDigitalizationEnigio completes first end-to-end paperless digital trade document transaction

Enigio completes first end-to-end paperless digital trade document transaction

Enigio AB has announced that the first paperless digital end-to-end trade document transaction was completed using its solution for digital original documents – trace:original essentially replacing all paper documentation in this transaction.

The goods shipped in this transaction were paper products from Antwerp, Belgium to Delhi, India with the transaction including multiple parties and types of documents all of which worked seamlessly together to achieve this milestone.

A press release issued by Enigio stated that the freight forwarder involved in this transaction, Fr. Meyer’s Sohn organized the transportation and the subsequent issue of the electronic bills of lading while Th Brunius & Co AB a global trader added trade documents such as invoice, packing list, insurance policy and certificate of origin.

The documents were received digitally by the importer as well as Fr. Meyer’s Sohn’s office in India for the release of the goods with the transaction being based on contract law pending the Electronic Trade Documents Act coming into force.

This end-to-end paperless digital trade transaction process reduced document transaction time from 9 days when it was paper-based to 1 working day at the same time ensuring that all required original documents were in place prior to the ship’s arrival. This has resulted in reducing courier costs, increasing security, and limiting fraud risk while also ensuring sustainability and avoiding the production and transmission of paper documents entirely.

Commenting on the transaction, Heiko Voigt, Chief Executive Officer, Fr. Meyer’s Sohn said “The world of logistics gets more and more complex and mission-critical. Efficient and structured collaboration between all involved parties on the basis of up-to-date information and documents at all times is a core issue for us – not just since the pandemic.

We constantly strive for increasing and optimizing the performance and thus the value of our customers’ supply chains. Therefore, we are very pleased that we were able to successfully complete this pilot with our partners Th Brunius and Enigio on this important path.

Th Brunius always strives to improve our processes and to enhance details in our business. We believe that digital trade documents can be a new, exciting part of international transactions. After evaluation, we found trace:original to be easy to onboard, efficient, and flexible for our customers. Perhaps the most important trace:original met our standards on safe handling, limiting payment risk,” said Kristina Hansson, Chief Financial Officer, Th Brunius & Co AB.

At Enigio we are very pleased to have concluded this transaction and to have demonstrated that our strategy to digitally mimic the existing paper processes works efficiently. We believe in a solution that is easy to implement, and can be used by all parties in trade without extensive onboarding nor a cumbersome IT-project,”  Ulf Eggefors, Enigio’s Head of Transport & Logistics commented.

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3 COMMENTS

  1. I’m very interested in the technology that runs trace:original I also love the name I would love to see the trace:original logo. Very straight forward and standard affirming. I’m sure there is a bunch of high level encryption going on under the hood, I also wonder how and if the blockchain is being utilized in any capacity.

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