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Bolero and HMM join forces to accelerate eBL growth in Asia

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Bolero International, the leading provider of cloud-based trade finance digitisation solutions, and HMM Co., LTD (HMM), South Korea’s national flagship carrier and one of the world’s leading container shipping companies, announce their collaboration in the adoption of the electronic bill of lading.

The two industry leaders will work together to improve the visibility, transparency, and efficiency of trade transactions by using Bolero’s electronic bill of lading solution.

In March 2022, HMM successfully completed its trial use of the electronic bill of lading between India and China, using Bolero’s Galileo platform. HMM’s customers are expected to receive reliable paperless services without any changes or disruptions to business operations.

Leveraging Bolero’s global network of banks, HMM expects continued growth in 2022 working with Bolero on the use of eBLs in Asia.

Bolero’s electronic Bill of Lading (eBL) solution is the trusted replacement for paper Bills of Lading, helping major importers and exporters to reduce the risk and cost of paper-based documents in trade and finance. One of the industry’s most widely used eBL solutions, Bolero has a proven track record with major banks, traders, shippers, shipping lines and port terminals.

The eBL solution enables eBL to be created, transmitted, endorsed, and presented to port authorities or customs electronically, removing many of the inefficiencies associated with paper-based processes. Capturing data electronically at every stage of a transaction, also allows parties to monitor progress as well as access accurate information about ownership and payment throughout the supply chain.

Bolero has the world’s biggest financial institutions directly connected to its 24/7 global network for paperless trade solutions – allowing for immediate settlement between parties upon receipt of an eBL. On Bolero’s global network, banks and corporates can exchange eBLs in real-time with 100% accuracy, i.e., a complete audit trail and proof of delivery. Bolero provides a secure, paper-free means for banks to exchange eBL with other banks, corporates, and shipping lines.

“We are delighted that HMM recognises Bolero’s expertise in this area and is working with us as we look to accelerate the growth of eBLs across Asia,” said Bolero CEO Andrew Raymond. “The last year has seen an acceleration of the move towards digital trade, driven by the desire to ensure supply chains stay open during times of crisis and uncertainty.”

“We are pleased with the successful collaboration with Bolero in digital solutions. Eliminating paper-based documents will make the shipping transaction easier, faster, and more secure.” said HMM Chief Operating Officer, Park, Jinki.

“We believe introducing the eBL solution is a significant step in the right direction, and HMM will be committed to providing customers with a digital trade platform that can increase the efficiency and velocity of trade.”

 

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Rivery Raises $30M B Round of Venture Funding from Tiger Global

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With data needs growing and data talent scarcity, there is huge demand for Rivery’s 100% SaaS solution to create an efficient scalable data stack.

Rivery, the SaaS ELT today announced a new funding round of venture capital led by Tiger Global Management alongside existing investors State Of Mind Ventures and Entrée Capital. This financing follows from last year’s A round, bringing the total venture capital raised to date to $48 million. Rivery’s product-led growth has significantly accelerated since the launch of the Pay As You Go program in December 2021, which is growing at a rate of 50% month over month. This new pricing model complements the existing Self-Service experience plan, which opens the door to any type of company that would like to immediately get started with Rivery.

Rivery provides a single end-to-end ELT solution which covers key processes to create the optimal data stack: Ingestion, Transformation, Orchestration and Reverse ETL. Teams can choose from the different modules to build their ideal data infrastructure. Before Rivery, companies had to rely on legacy ETL platforms that were not built for cloud, and lacked the flexibility to scale. By streamlining and unifying how data stacks are built, maintained and automated, Rivery helps companies to unlock data value with a complete SaaS solution suitable for companies that need to scale fast. Besides helping data teams remain lean and agile to grow, it avoids the costly and complex issues that come with managing fragmented data stacks that rely on multiple disjointed tools.

Used by over 300 customers globally, Rivery’s approach to data management is a generational technology leap that incorporates automation and actionable logic into the traditional data ETL/ELT (extract, transform, and load) processes. Some of the world’s fastest-growing cloud-native companies including EMAAR, Bayer, Webedia, BuzzFeed, Papaya Global, American Cancer Society, NEXT, and WalkMe use Rivery as the core engine to power their data stack.

The new funds will help expedite the growth of the company across all teams in New York and Tel Aviv HQ including R&D, Product, and Sales, as well as expanding on EMEA where a London office has been launched to focus on the regional market. In addition, Thibaut Ceyrolle, who founded Snowflake EMEA Division, has joined Rivery’s Board of Executives to lead and define the company’s growth strategy across EMEA.

Itamar Ben Hemo, CEO of Rivery said: “Companies have to scale faster than ever before, which means data teams need to achieve more with less. By offering a fully SaaS end-to-end solution as the core to their data stack, Rivery plays a pivotal role to provide unlimited scalability. This funding is a great milestone that will help us grow our global presence, making Rivery a de-facto tool that empowers businesses to unlock the unlimited power of their data.”

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How to reignite your store with streamlined operations and a distinctive customer experience

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Colin Neil, MD, Adyen UK

 

Retailers know that prioritising customer experience is vital to success today. This, amongst the management of complex supply chains and the cost of living crisis is a lot to oversee.

Further, the pandemic has accelerated technology’s role in building a relationship between store and customer. Consumer adoption of digital, cashless payments has accelerated. PwC’s ‘Payments 2025 and Beyond’ report predicted that cashless transactions could triple in volume by 2030. This trend aligns with our own experience of 2021, in which we’ve witnessed a 70% jump in transaction volumes. It demonstrates the rapid digital transformation of retail as pandemic trends amplified the role of ecommerce in online and offline sales.

Operationally, there’s a lot for retailers to think about. The question is: Which are the technologies that will allow them to truly transform the customer experience?

Consider Android mPOS

Traditional mobile POS (mPOS) terminals are a great way to unshackle sales from a static cash-desk, helping to reduce queues and improve the overall shopping experience. However, they’ve also presented some operational challenges. These devices only take payments; they’re unable to scan barcodes or check stock, meaning that sales teams become burdened with a utility-belt’s worth of additional devices to fulfil these needs.

But recently, the entrance of the new Android mPOS terminal has caused a stir since it’s an all-in-one solution that can manage a multitude of functions, via installed apps. This includes: checking a customer’s previous orders and eliminating the need for separate cash registers, barcode scanners, and even customer facing displays.

These devices represent a fundamental change in the role of the payment terminal. Thanks to its app management system, retailers can manage the functions they use every day in a single hand-held device, from inventory management, to loyalty programmes, returns and more.

Palisis, a provider of sales and operations solutions for tourism and transportation businesses, and Immfly, an in-flight digital services provider, are among the first of our customers to roll out the terminals. In doing so, they’re simplifying the management of their business and freeing up staff to focus on the customer experience. Here’s how:

  1. Streamlining operations

Android mPOS terminals let you consolidate your store’s business functions into one device. This is a big benefit for your bottom line, since managing multiple systems and hardware can lead to high costs, from set up to ongoing maintenance. Furthermore, customisation from a centralised location gives an overview of all a retailer’s terminals. Adyen’s Terminal Fleet Manager, for example, is capable of multiple configurations – including terminal location, logo, refunds, receipts etc – remotely.

Consolidating these systems reduces cost of ownership, helping you free up budget for other investments and innovations. It’s also simpler for staff to use the one system, making their jobs much easier, especially during busy periods.

  1. Flexibility to grow

When systems are consolidated on a single device, it’s easier to update and scale technology as your business evolves. For example, if you process payments on a centralised platform, like Adyen, the same software and end-to-end encryption can be quickly rolled out across all your stores, anywhere in the world. You can also cater to customers’ preferred local payment methods, as well as the major global ones, without needing additional terminals or worrying about local acquiring headaches.

On top of that, if all customer-facing channels and backend systems are connected via one platform, you can monitor online and in-person payments in one place. You can recognise and reward loyal customers in real-time, future-proofing the customer experience with invaluable data insights. 

  1. Convenience for customers

Mobile devices allow customers to make purchases from anywhere. This has led some retailers to consider doing away with the till area completely. Tesco’s entered this space last year, and Sainsbury’s partnered with Amazon to introduce the experience too. With no cash desks, the store is given over completely to product and service.

Getting your roll out right

Take a look at what our customers Immfly and Palisis have been able to achieve with their roll out. Immfly needed to be able to create and process drinks and snack orders during flights, without involving any extra hardware for air stewards to handle and manage. Its Android S1F2 devices integrate cash register systems directly onto WiFi-enabled terminals via an app, which sync stock levels throughout the flight. Payments can also be taken while offline on both long and short haul flights. These capabilities also mean leading ticketing and reservation tech provider Palisis can use them in many different weather conditions, from ski slopes to tour buses in the world’s biggest cities.

The best customer experiences are convenient and modern payment terminals can help retailers deliver this. Just remember, when you’re looking to roll out any new in-store tech, it’s important to research and pilot the scheme thoroughly. In that way, you’ll be sure to have the best possible impact on your customer experience and ultimately your revenue.

 

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