Traydstream signs agreement with ITOCHU to deploy its SaaS platform to digitize and automate trade document processing
Traydstream has been mandated by ITOCHU, one of the top Japanese trading and investment companies, and has started use of its trade digitization and automation platform following a successful trial.
Traydstream’s TraydCheck document-checking rule engine will enable ITOCHU to present “clean” trade documents to banks and expedite the trade operational process.Traydstream will also provide next stage of efficiency gains through enabling transfer of trade data between the Exporter and their Export bank via its groundbreaking TraydConnect service.
Traydstream’s innovative solutions will significantly reduce turnaround time in document checking and discrepancy negotiation, thereby enhancing operational efficiency, to minimise delays in document processing that will lead to avoid any disruptions in goods collection at ports.
Yutaka Izawa, Global Head of Sales – Japan & Korea, hailed the relationship with ITOCHU as a significant milestone for Traydstream in Japan. “We are thrilled to have ITOCHU as our first TraydConnect corporate user in Japan, connecting trade transaction data directly with negotiating banks through the Traydstream platform. This relationship underscores the growing momentum and adoption of Traydstream’s solutions in the Japanese market,”.
The collaboration between Itochu Corporation and Traydstream represents a commitment to leveraging technology to drive efficiency and competitiveness in international trade operations. With the implementation of Traydstream’s advanced solutions, both companies are poised to further enhance their trade processes and deliver greater value to their clients.
