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Payment Process in Container Shipping in Dire Need of Digitization

May 7, 2018


The new technological trends promise to simplify an outdated way of doing business bringing at the same time considerable cost reductions.

However, the very payment process in the sector is yet to reap gains from the switch and it represents a major market opportunity for the tech companies.

UK-based shipping consultancy Drewry estimates that in 2017, the global containerized trade of 207 million TEU of ocean containers required around 1.26 billion freight invoices to be issued, verified, paid and reconciled.

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