Bolero, the world's leading provider of secure financial supply chain solutions, has announced a partnership with the Australian Trade and Transport Community, MaxeTrade, to provide its expanding network of exporters with access to Bolero's innovative BoleroAdvise Letter of Credit Advice solution.
MaxeTrade was established to deliver an enhanced communications and e-commerce platform to meet the evolving requirements of new legislation such as the recent Australian Customs' Cargo Management Re-engineering (CMR) initiative.
MaxeTrade is focused on providing its exporter members with secure, value-added communication services, particularly to the Australian trade and transport community. BoleroAdvise will bring immediate benefits to Australian exporters, especially in the presentation of Letter of Credit Advices, where Bolero's improved speed and accuracy can significantly reduce the cost of the Letter of Credit process.
"At MaxeTrade we're committed to delivering services that make life easier for our community members, and take away many of the practical inconveniences of international trade," commented John Ray, CEO of MaxeTrade. "With its innovative approach to removing the barriers to international trade, Bolero makes a natural partner for MaxeTrade, helping our exporters to reduce their critical order-to-cash cycle and making it much easier for them to process Letter of Credit advices from multiple banks."
"Supporting our strategy of community wide adoption in the region, we're delighted to add MaxeTrade to our expanding network of Bolero trade partners, following the success of recent initiatives in Hong Kong and China," commented Claire Buchanan, Bolero's SVP. "Using BoleroAdvise, Australian exporters can now gain much quicker and easier access to their essential electronic trade documents. By increasing efficiency and reducing un-necessary re-keying, MaxeTrade's members can now significantly reduce the cost of their Letter of Credit process," added Ross Wilkinson, Head of Bolero's Asia Pacific operations.
BoleroAdvise provides exporters with an accessible and easy-to-install multi-banking service that allows them to receive all their documentary credit advices on the same platform, in the same format, regardless of the identity of the advising bank. BoleroAdvise provides a clear audit trail, with information presented for all in a standard and user-friendly format. It allows MaxeTrade's export community to view, print and download Letter of Credit Advices for downstream processing. The reduced error rate, a direct result of getting rid of the need for re-keying, enhances the speed, efficiency, accuracy and reduces cost of the Letter of Credit process.