25 Oct Acudeen and OpenPort: Bridging the Gap Between Supply Chain Risk and Cashflow of SMEs Nationwide
Acudeen partners up with OpenPort to help small and medium enterprises have access to an electronic-proof of delivery and transport management solution.
This solution solves the problem of SMEs when tracing the delivery progress of products and services by utilizing digital blockchain technology.
According to Acudeen Founder and CEO Magellan Fetalino, credit risk mitigation in financing is the most important component towards feasibility. Now and then, what holds up large financial institutions to provide financing access to small businesses is the high credit risk involved, which is why this partnership is a possible accomplishment for both Acudeen and OpenPort.
OpenPort offers blockchain logistics solutions deliver supply chain transparency for many of the largest consumer goods companies in the world. They are Asia’s only multinational digital logistics provider with ERP-integrated shipment visibility from pick-up to delivery, and irrefutable proof of delivery from any road freight transporter for maximum security, trust and traceability.
Get to know them more with this video:
What They Do
OpenPort enables secure, end-to-end supply chain tracking and monitoring from raw material to a customer through the OpenPort E-Pod process. They offer these three core benefits:
1. Security and Trust
Their technology permits to encrypt sensitive data for shipment tracking and event reporting which ensures the validity and source of digitized shipment documents. This is more efficient because it reduces the paperwork required in the business documentation which will benefit the SMEs that we cater because it will be more convenient and transparent for them to document their data.
2. Speed and Cost
They have this so-called “smart contracts” which allow them to facilitate payment and clearance processes. This will result in shipper’s better rates and service, while the transporter receives faster payment and increased volumes will result in better cash flow for SMEs.
3. Fully Scalable
With the advent of the blockchain, OpenPort’s technology framework allows access to an open and neutral transport marketplace which can result in a sustainable and healthy business. Acudeen chooses OpenPort as a supply chain partner not only because of their capabilities but also because of the same mission: to help millions of SMEs nationwide.
To cite an example, here is a video presentation about their service:
OpenPort Solution for Financing SMEs
Nowadays, these are the following problems of SMEs on supply chain financing:
- Buyers wanting to receive extended payment periods
- The long waiting time for payment terms
- Stress on cash flow and liquidity management for SMEs
- Complicated banking environments that offer no flexible options
But with OpenPort to the rescue, it will help create a better business environment for our Small and Medium Enterprises (SMEs).
While we provide faster and convenient cash flow, their blockchain technology will help us have an access to a quick, low risk and affordable financing for their goods and services.
Acudeen as one of the fastest growing peer-to-peer marketing platform aims to fully develop supply chain and trade financing businesses in the ASEAN region. This partnership will be sure of big help in achieving this goal towards the future of supply chain financing for the benefit of small and medium enterprises in the emerging market.