Monday, April 15, 2024

Startup comes up with paperless structure for global trade

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T-Hub startup launched a paperless structure for international trade, to overcome hurdles in international trade transactions and to emerge as a frontrunner in the global economy. Automaxis, a pioneering startup supported by T-Hub, announced advancements in its mission to transform international transactions. With its flagship product, FDP Connect, Automaxis is poised to streamline, automate and digitise transactions related to freight, documents and payments.
This platform tackles longstanding challenges in international trade, fundamentally reshaping how businesses navigate the difficulties of global commerce.
Cross-border trade often encounters inefficiencies and bottlenecks, hindering seamless transactions. Automaxis comes out as a beacon of efficiency and reliability, leveraging blockchain technology and artificial intelligence to bridge the gap between stakeholders operating in silos.
By fostering interoperability and perfect collaboration within the supply chain, Automaxis sets the stage for enhanced efficiency and reduced paperwork in international trade. With over 5,500 exporters already onboard, Automaxis continues to make waves in key sectors such as agri exports, recycled paper exports, marine exports, engineering exports, gems and jewelry.
The government’s initiatives under the Digital India initiative and Ease of Doing Business are further paving the way for smoother international trade. Automaxis, with its total approach, offers a comprehensive suite of tools to guide users through every stage of the international trade process, particularly the recent commitment by the Digital Container Shipping Association (DCSA) transition to 100% electronic bills.
A significant achievement for Automaxis is its integration with TradeTrust, MLETR compliant framework by IMDA, Singapore. The recent live paperless transaction between India and Singapore, handled using the TradeTrust platform, highlights the success and relevance of Automaxis’s solution in today’s digital economy.
Pratik, chief operating officer of Automaxis, said, “We are providing a one-stop-shop for all the digital needs of the exporting and importing companies in India. Our smart tool navigates users through the total process of international trade, ensuring efficiency and compliance.
Looking ahead, Automaxis projects robust revenue growth for the upcoming fiscal year, driven by growing order books and an expanding customer base.”

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