Electronic trade documentation has been around since the 1990s but gained serious momentum in the last few years and especially during/after the pandemic. However, despite millions of dollars spent in developing processes and technologies, several technological advancements, and solid proof of concepts, widespread adoption still seems elusive.
Doubts about digitalization’s ability, lack of knowledge about its workings, interoperability, lack of integration, legislative, regulatory, and compliance-related issues, and lack of guidance are some of the reasons for the lack of widespread adoption of electronic trade document transfer.
These reasons were identified in a survey of over 400 supply chain professionals done by CargoX. Despite the investment of millions of dollars leading to several advancements in technology and the availability of solid proof of concepts, widespread adoption still seems elusive.
A webinar featuring an expert panel of Emmanuelle Ganne – Senior Analyst, Economic Research Department at WTO, Joel Schrevens – Director, China Systems, Global Trade Solutions, and Peter Kern – Chief Business Officer at CargoX, moderated by John Monarch – Supply Chain Expert at UN/CEFACT sought to unpack the results of the survey.
The discussion points and outcomes of this well-attended webinar are now available to view. The expert panel identified several areas where business stakeholders could improve and increase collaboration and cooperation, and also identified certain approaches that can expedite the adoption of electronic trade document transfer.
Click here or the below image, to view the webinar and learn more about the solutions identified by the panel to overcoming barriers to the adoption of electronic trade document transfer.