How Technology Can Help Global Trade Become More Efficient, Inclusive and Equitable

Supply chain management has become more difficult as supply chains have grown increasingly interconnected. Furthermore, regionalization and the need for optimization have been sparked by external variables such as market instability, pandemic-induced changes, and heightened awareness of the environmental impact of supply chains. To make International Trade finance more effective, inclusive, and equitable, this has interestingly prompted the development of Trade Finance Service to aid small and medium-sized enterprises and other stakeholders in concentrating on supply chain resilience.

These cutting-edge innovations facilitate buy-and-sell discovery platforms and the internal communication and interoperability of service providers such as trade financiers, insurance providers, and logistics firms. For small and medium-sized businesses (SMBs), technology can simplify, broaden, and make fairer international trade.

Funding for Global Commerce

When financial institutions like banks issue financial instruments like Bank Guarantee and letters of credit to importers and exporters, this is known as International Trade finance. International trade finance includes importers, exporters, banks, and specialized finance companies.

Intelligent Supply Networks

Many small businesses are adopting artificial intelligence (AI) based solutions, allowing for the more advanced supply chain management. Models for predicting future demand, end-to-end transparency, dynamic planning optimization for inventory control, and automated process optimization for waste reduction are all part of the picture. To construct prediction models and conduct correlation analysis, each of these factors is essential for identifying the drivers and moderators of supply chain performance.

Originally published at https://www.axioscreditbank.com

5 Money Saving Tips to Keep You Financial Fit While Planning to Move Abroad

Moving to a different country is a dream that almost everyone out there has thought about in their childhood. Where it is very thrilling to know that one is getting the opportunity to move overseas, thinking about the financial aid of the shift is also an important plot to take care of. Be it a job opportunity or planned trip – moving overseas itself sounds expensive and requires a lot of pre-planning work.

No matter how much you keep adding to your personal savings account, relocating comprises many hidden expenses that you get familiar with only after one visit abroad. From the booking of tickets to finding a safe place to stay, every single process asks for a lot of detailed inspection and funds. And, you need to be extra wise and play safe all the time.

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     Originally posted:- https://www.axioscreditbank.com/blogs/5-money-saving-tips-to-keep-you-financial-fit-while-planning-to-move-abroad

Introduction to Trade Finance (Import & Export)- Definition, Types, and Benefits

If you are a businessman who is running an international business in different corners of the world, you might be aware of the situation when you need financial help for importing or exporting goods in other countries faster and easier. This is a situation where the concept of Trade Finance comes into the picture. 

What is Trade Finance?

Trade finance is the collection of essential financial instruments and products that are used by financial companies to facilitate finance to global businessmen so that they could perform their international transactions with smooth, ease and comfort. In simple words, trade finance makes it easier and possible for importers & exporters to transact their business through trade. It eliminates or reduces the risks involved in an international business transaction. Trade finance is an umbrella term that means it covers those financial instruments that are being used by many banks and companies to make trade finance transactions feasible.

Trade Finance

There are two concerning parties in Trade Finance:

1. Exporter - who needs payment for their goods and services
2. Importer - Who wants to make sure that their payment is for the correct quality & quantity of goods.

5 best ways to pay international contractors and employees abroad

Ways to pay international contractors and employees abroad

A businessman has to pay his staff and contractors on time. The staff and contractors can be from different countries, so they should also be paid on time like the employees and contractors of the same nation. A businessman should not make its international employees and contractors wait for timely payment. There are some ways to pay money to make international trade transactions with employees and contractors abroad. Check out these five ways to pay international contractors and employees abroad.