European car-maker PSA Peugeot Citroen has initiated a series of tests with trade finance network Bolero.net, with a view to allowing all group exports to be processed online.
The test programme will involve a group subsidiary and a distributor using the Bolero system to process shipments of spare parts and new cars between Europe and the Far East.
Peter Scott, commercial director of Bolero.net says the system typically cuts processing times for single trades from several weeks to just 24 hours, with all contractual details agreed online in a secure environment.
He says: "We offer a solution that delivers streamlined and accelerated processes, improved transaction visibility and reduced transaction costs. These are compelling service attributes for companies looking to improve working capital."