GUUD Trade Platform Launched by vCargo Cloud to Simplify Global Trade Processes

Oct 2020

vCargo Cloud Pte Ltd, a Singapore-based ICT company founded in 2013, has launched a technology platform called GUUD, created to simplify trade processes and thus improve efficiency. GUUD references the UN/ CEFACT Buy-Ship-Pay model to cover all aspects of trade facilitation.

The GUUD trade platform aims to allow all businesses, including micro, small and medium enterprises, to become part of global trade by reducing red tape, eliminating middlemen, and providing greater access to logistics and financial services. To facilitate this, the GUUD platform streamlines all trade processes into an integrated platform, including shipping and compliance. Companies are able to submit documents and track shipments through the platform, simplifying the process for smaller enterprises that may not have expertise in dealing with cross-border trade and allowing them to better manage their costs.

The launch of the GUUD platform strengthens Singapore’s openness in using digital technologies for trade. Back in 2018, the Government launched the Networked Trade Platform (NTP) which is a one-stop trade and logistics ecosystem that supports digitalization efforts and connects players across the trade value chain in Singapore and abroad.

In addition, in October 2020 Singapore’s Infocomm Media Development Authority announced the launch of OneSME. The platform, developed in collaboration with OneConnect, the financial technology arm of Shenzhen-based Ping An, allows Singapore SMEs to connect to a buyer base of 4 million Chinese SMEs.

(Sources: vCargo Cloud; BioSpectrum Asia)

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