Challenge: A multinational trading company found itself struggling with trade finance complexities. The team faced persistent challenges, including delayed invoice processing, compliance risks, and high operational costs. These inefficiencies led to frequent transaction bottlenecks, errors, and constant firefighting with banks and suppliers.
A critical moment forced them to act a major shipment was held up due to an LC processing delay, putting a high value contract at risk. The company urgently needed a fast, reliable, and compliant solution to streamline trade finance operations.
Solution: Under mounting pressure, the company partnered with 360tf, who swiftly deployed their OpsAssist solution to tackle these challenges. The key interventions included:
- Invoice Processing: Instead of enduring repeated delays, a dedicated expert ensured accuracy and timely invoice approvals, eliminating inefficiencies.
- LC Verification & Coordination: When an urgent LC amendment was needed, the expert liaised seamlessly with banks and clients, preventing costly shipment disruptions.
- Compliance & Risk Mitigation: Proactive monitoring of transactions ensured strict regulatory adherence, minimising penalties and operational risks.With 360tf handling these critical functions, the company regained control over its trade finance operations, reduced errors, and ensured seamless transaction flow.
With 360tf handling these critical functions, the company regained control over its trade finance operations, reduced errors, and ensured seamless transaction flow.
Impact: By leveraging 360tf OpsAssist, the company achieved:
- 30% faster processing times, accelerating trade approvals and reducing transaction delays.
- 20% reduction in operational costs, optimising resource allocation and financial efficiency.
- Enhanced compliance and risk management, strengthening overall trade finance governance.
Conclusion: 360tf OpsAssist transformed the company’s trade finance landscape, eliminating bottlenecks, cutting costs, and enhancing efficiency. With expert-driven operational support, the company now executes transactions with confidence, ensuring smooth, compliant, and cost-effective trade finance operations.
