Automated invoice and payment systems in shipping could wipe out billions of extra costs

A new white paper from Drewry claimed that as shipping costs are further squeezed more attention should be diverted to “inefficiencies” in payment processes, where it calculates some $31bn in transaction costs is incurred annually.
The maritime consultant estimated that the global container shipping industry earned revenues of $166bn in 2017, generated from the movement of 207m teu across 400 liner services, requiring the raising of a staggering 1.26bn freight invoices.
“We …

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Source: The Loadstar

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