GeTS Asia Pte Ltd receives SBR's Tech Award for Logistics
Its global supply chain orchestration platform, CALISTATM, combines physical and non-physical activities of logistics on a single, digital ecosystem.
Global eTrade Services (GeTS) is a global trade platform company with a mission to power global trade; making it more accessible, predictable and easier to fulfil. Its platform, CALISTA, enables the orchestration of logistics, compliance and financial requirements of trade and supply chain seamlessly, smartly and securely.
One of the most significant challenges that companies face is cross-border trade complexity. This has become more challenging due to the COVID-19 pandemic, as supply chains are disrupted, and global trade remains volatile. Often, this complexity exists across the entire value chain of trade, from logistics, compliance to financing.
CALISTA is the platform that offers the solution to addressing these complexities. It provides companies access to reliable and competitive freight options, timely visibility of cargo movements, accurate advisory on trade formalities and adherence to regulations, and availability of fuss-free working capital support.
It is for these reasons that Singapore Business Review has recognised CALISTA as the winner of the Technology Excellence Award in the Digital – Logistics category.
CALISTA serves shippers and logistics stakeholders. Through CALISTA, shippers can book and track their freight, fulfil regulatory requirements, and secure financing for their trades. CALISTA also supports Logistics Service Providers (LSPs) by helping them digitalise their sales processes for more seamless and collaborate with each other
With connections to more than 90 different carriers and NVOCCs, more than 50 ports, over 60 Customs nodes, and at least 10,000 freight forwarders and access to trade advisories in more than 180 different countries, CALISTA processes more than 40 million transactions annually. The platform utilises blockchain, artificial intelligence, and machine learning to transform traditional trade-related processes and improve transparency and trust between logistics stakeholders, and between businesses and governments.
Using CALISTA, stakeholders can benefit from streamlined trade and supply chain processes, optimal data reuse, connectivity across multiple Customs nodes, improved authenticity of data flow and access to accurate and up-to-date status visibility.
Some of its notable features include:
Connectivity - Traditionally, LSPs have limited partners, usually established after an arduous negotiation process. CALISTA has an integrated end-to-end online module that facilitates customers with RFQs, bookings, invoices, and online payments, with visibility throughout the entire process. It provides a marketplace for LSPs - whether you are operating on air, rail, land or sea - to collaborate and meet the different cross-trading needs. Information is available on the platform 24/7, so that LSPs can make informed decisions in a timely fashion, especially during an emergency; it is all part of CALISTA’s agility to be able to navigate challenges quickly.
Enhanced accuracy which reduces unnecessary compounds due to trade errors permit filing - With CALISTA, traders can obtain HS codes required for the origin and destination countries, taxes and duties applicable for a particular product, and check available Free Trade Agreements (FTA) to see if they qualify for any tax deductions. Access to importation and exportation guidelines as well as compliance content from over 180 countries are available on the platform.
Plugging the gaps in trade finance between the different trade parties - CALISTA digitalises the entire trade financing application process on a single case management system through the use of optical character recognition (OCR) technology and an Artificial Intelligence/machine learning (AI/ML) credit engine.
“Creating an AI platform that streamlines trade and supply chain processes has never been more important, especially now with the pandemic imposing a tight grip on global trade access,” said Tim Charlton, publisher of Singapore Business Review magazine. “CALISTA helps lessen that grip, allowing for smoother and more efficient trade processes for businesses.”
Winning SBR TEA’s award for CALISTA is a reflection of the company’s mission to make worldwide trading a force to be reckoned with.
“We are humbled and honoured to receive the SBR Tech Award,” said Chong Kok Keong, CEO of GeTS. “Every one of us in GeTS is passionate about powering global trade. This award is a validation of our efforts in making trade more accessible, predictable and easier to fulfil. Specifically, our platform, CALISTA, is designed to address the compliance, logistics and financial requirements of global trade. By leveraging on CALISTA, companies, including the Small-Medium Enterprises can strengthen the level of control, competitiveness and connectivity in their global trade activities.”
“I would like to take this opportunity to reaffirm our conviction to work alongside our government and business customers and partners to develop innovative trade solutions to power global trade,” he said.
The Technology Excellence Awards was presented by Singapore Business Review via video conferencing throughout the second and third week of April.
With 67 winners under its belt, this year's nominations were judged by of Daryl Pereira, Head of Cyber at KPMG; Cheang Wai Keat, Partner, Consultant at Ernst & Young Advisory Pte. Ltd.; Henry Tan, Group Chief Executive Officer and Chief Innovation Officer at Nexia TS; Sivakumar Saravan, Senior Partner at Crowe Singapore; Cecil Su, Director, Head of Cybersecurity of BDO Singapore.