THE trade and logistics sectors will soon enjoy a further reduction in paperwork and repetitive processes, thanks to a new Web-based system to be launched in October this year.

The platform, called TradeXchange, adds dozens of new services that will allow companies to breeze through the regulatory and documentation requirements for shipping goods in and out of the country.

TradeXchange, developed by local IT firm CrimsonLogic, links multiple IT systems used by the government and private sectors, such as the Maritime and Port Authority of Singapore's Marinet and PortNet, into a single interface.

The closer integration of the different systems removes the need for redundant paperwork and data re-entry.

Beyond improving government-related processes, agencies like the Infocomm Development Authority of Singapore (IDA), the Economic Development Board and Singapore Customs have also partnered six consortiums to add new business services to TradeXchange to boost its appeal among potential users.

According to IDA chief executive Chan Yeng Kit, even a seemingly simple task like the checking of goods could involve as many as 25 different parties and 40 trade documents, with less than 5 per cent of this routine associated with the government.

In an attempt to automate more processes, the authorities requested for proposals from local IT companies last year to develop and market business-to-business (B2B) solutions and services that could be incorporated into the platform.

'A greater number of trade and logistics players such as shippers, logistics service providers, third-party logistics providers, freight forwarders, carriers and financial institutions will be able to use TradeXchange beyond filing of trade permits and declarations,' he said in his opening address at a supply chain conference yesterday.

He said that of the 13 proposals received, the government had chosen six - from AEB Asia-Pacific, CrimsonLogic eTrade Services, Cyberlog Technologies, Gridnode, Kewill-IPACS e-Solutions and Y3 Technologies - and will jointly invest $4 million with these firms to carry through the suggestions.

'The suite of B2B services will allow the trade and logistics community to file customs declarations and manifest submissions with other countries. It also allows companies to check schedules and bookings of cargo space electronically with shipping lines, to enjoy more secure access and transfer of titles electronically, as well as to purchase cargo insurance online,' Mr Chan explained.

When implemented, the system is expected to benefit close to 90,000 registered traders in Singapore, and is projected to save these companies a total of $75 million over a 10-year period.

This article first appeared in BT on March 22, 2007