Arthur Vonchak: The e-Commerce Journey to Paperless Trade

Backed by SWIFT and an association representing the global logistics industry, Bolero was created as a neutral, trusted third party to develop a comprehensive set of standards that would remove the barriers to global, cross-enterprise business. Bolero implements and enforces these standards in an open platform to enable paperless trading between buyers, sellers, logistics, banks, agencies and customs anywhere in the world, delivering transaction visibility, predictability, speed, accuracy and security. Building on this platform, Bolero delivers applications that enable the merging of the physical and financial supply chains, allowing companies to fundamentally re-engineer the way that business is done and take advantage of electronic trading. Customers and their trade partners are rapidly deploying Bolero solutions delivering significant reductions in cost and working capital, increased visibility and improvements in operating efficiency.

The Bolero Platform and Applications are provided directly by Bolero as well as from a growing number of Trade Communities including members of the PAA (Pan Asian Alliance) such as Tradelink in Hong Kong and KTNET in South Korea and from a significant number of global and regional Trade Banks including ABN AMRO bank, Bank of China, BNP Paribas, Citibank, Deutsche Bank, HSBC, JP Morgan Chase, Korean Exchange Bank and UFJ.

Bolero’s customers are Importers and Exporters who have significant volume of international cross border trade. The Bolero platform and applications connect the Importers and Exporters with associated banks, freight forwarders and other logistics services providers to enable Paperless Trade.

In direct support of the major Trade routes, Bolero’s activities are focused primarily on the major trade routes to North America and Western Europe from Asia and to Japan from Asia, with an obvious increase in volume and focus on Mainland China.