The development of cloud technology is opening the door for companies in the trade finance sector to move away from the inherent constraints of paper-based processes.

In Asia, this is particularly compelling, as importers don’t need to invest heavily in hardware and software to use cloud-based trade finance solutions – in some cases enabling them to leapfrog more costly and complex ERP tools.

As such, many operators in these less mature markets are very open to working in the cloud and receptive to the competitive opportunities it brings.

From a corporate perspective, SaaS-based multi-bank trade finance applications and exporter-led solutions are also extremely compelling in terms of cost and their potential to make essential processes more effective.

Typically, cloud-based trade finance solutions are far easier to deploy and use, especially when compared with more restrictive on-premise technologies. This in turn can enable corporate users to increase business efficiency and payment …