International trade document solutions provider Trade Technologies has announced that during 2021 it completed a record number and US dollar value of transactions on its TradeSharp platform.

The platform was used to process over 60,000 letter of credit (L/C), documentary collection and open account trade transactions with a total value of over US$13 billion.

Moving online

In total, Trade Technologies says it has enabled over 530,000 international trade transactions with a value of almost US$130 billion since 2003.It says that 53 per cent of all transactions in 2021 were securely presented to banks or buyers online via TradeSharp, the company's cloud-based platform offering connectivity, automation, visibility, and workflows across the entire trade document chain.

Carbon reduction

The company has been presenting original trade documents digitally to trade banks and buyers since 2003 and says that online presentations reduce risk, payment times, and overall costs.

The electronic delivery of over 32,000 sets of trade documents during 2021 also helped reduce carbon emissions by eliminating the need for domestic and international courier packages according to Trade Technologies.

It says it added over 120 new customers in 2021 and opened three new operations offices, in Foshan, Kuala Lumpur and Dubai.

This article represents the views of the author and not necessarily those of the ICC or Coastline Solutions.