|
Bolero partners with Tradelink to provide
Hong Kong exporters with first unified view of all their outstanding
Letter of Credit Advices
- Powerful electronic Letter of Credit Advices solution
gives over 54,000 Hong Kong exporters the opportunity to reduce
their order-to-cash cycle and improve speed and accuracy
- Korea Exchange Bank is first partner bank to support
Bolero solution for Tradelink export trading community
(27 JANUARY 2005, HONG KONG) Bolero, the world's leading provider
of secure Financial Supply Chain solutions, has announced a partnership
with Tradelink, the leading provider of electronic services to
Hong Kong's export trading community. Tradelink will make Bolero's
electronic Letter of Credit Advices solution available to its
54,000 plus membership of exporter organisations, providing them
for the first time with a fast and efficient way to receive their
Letter of Credit Advices electronically from financial institutions
such as Korea Exchange Bank - the first partner bank to support
the Bolero solution on Tradelink.
By using the powerful BoleroAdvise Letter of Credit Advices solution,
Tradelink's exporters will benefit from the efficiency and accuracy
of electronic processing, saving both time and money and for the
first time gaining a single, unified view of all their outstanding
Letter of Credit Advices. BoleroAdvise is a secure, standardised
platform for the electronic creation and transfer of the Letter
of Credit Advices essential for international trade. BoleroAdvise
will be available via an easy and quick registration process,
accessible online via standard browser-based technology.
"Since the launch of the first Tradelink service in 1997,
we've been committed to developing e-commerce among the Hong Kong
exporter community. We now work with over 54,000 businesses, helping
them to take advantage of electronic services such as the powerful
BoleroAdvise solution," commented Justin Yue Kwok-Hung, Tradelink
Chief Executive Officer. "BoleroAdvise introduces speed and
efficiency into the Documentary Credit Advice process, and with
leading banks such as Korea Exchange Bank on board we can play
a key role in helping our export customers to achieve real benefits
by speeding up the approval of Letters of Credit and reducing
their order-to-cash cycle."
"Tradelink is Hong Kong's undisputed leader in e-commerce"
added Bolero's Chief Executive Officer, Arthur Vonchek. "We're
delighted that Tradelink has recognised the potential of BoleroAdvise
to simplify the Letter of Credit Advices procedure for its exporter
community, and is now making this service extremely easy for Hong
Kong's exporters to use. With BoleroAdvise, exporters can use
our technology to gain a single, unified view of all their outstanding
bank positions."
"Working with Tradelink, exporters can now benefit from
immediate benefits such as improved cash flow management and will
really notice the difference as BoleroAdvise helps them to optimise
their working capital and credit line positions with their banks,"
continued Arthur Vonchek. "With over 54,000 exporter customers
and strategic banking partners such as Korea Exchange Bank, Tradelink
provides an excellent partner for Bolero in Hong Kong, and we
believe this partnership model will provide a template for our
engagement in other key Asian trade communities as we continue
to help organisations unlock real value from the Financial Supply
Chain," he added.
BoleroAdvise provides exporters with an accessible and easy-to-install
multi-banking service that allows them to receive all their documentary
credit advices on the same platform, in the same format, regardless
of the identity of the advising bank. BoleroAdvise provides a
clear audit trail, with information presented for all in a standard
and user-friendly format.
- O -
For press enquiries, please contact Tradelink (Corporate Communications)
on 2599 1686.
|