[opentrade]

OpenTrade








  • OpenTrade is an internet based collaborative platform to streamline the financial supply chain.
  • Open Trade provides the following:
    • Workflow
    • Collaboration
    • Document Management
    • Compliance
    • Reconciliation
    • Settlement
  • The Financial Supply Chain refers to the end-to-end trade processes and information that drive a company’s cash, accounts, and working capital. From a buyer’s perspective, this involves the full procurement-to-payment process. For the seller, it is the order-to-cash cycle. The financial supply chain, which drives financial settlement, takes over where the physical supply chain ends.


The objective of the Financial Supply Chain is to optimize:
  • Accounts payable and receivable
  • Cash management
  • Working capital
  • Transaction costs
  • Risk
  • Administration

The main advantage is To make the Bank, the most Valuable link in the Supply Chain, the Strongest link

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How does OpenTrade Work?
  • OpenTrade is based on BankTrade/TRADEPAQ’s EDM (Enterprise Document Management) Platform
  • EDM provides a foundation for many solutions based upon its core components
  • EDM is Java based platform using industry standards such as XML, XSL to deliver EAI, Workflow, Collaboration, Document Management, Compliance and Reconciliation
  • OpenTrade links, gathers, distributes the information required for the transaction across the Trade Chain in the format/s required by each trading partner.

Banks and OpenTrade

Banks can play a more active role in the Financial Supply Chain by providing solutions that allow for:
  • Reduction of the time required to create, transfer and process paper documentation
  • Reduction of the cost and errors associated with manual creation and reconciliation of documentation
  • Provide transparency in inventory and cash positions when goods are in the supply chain
  • Reduce the number of disputes arising from inaccurate or missing data