#China #Hong Kong #IQAX #CargoNPay #eBL Solution

Revolutionizing Shipping with AI-Driven Solutions

In a significant move towards modernizing logistics, IQAX and CargoNPay have formed a strategic alliance aimed at transforming the way shipping instructions are handled in China. This collaboration marks a critical evolution in the freight industry, utilizing cutting-edge technology to enhance document processing efficiency and accuracy.

The Partnership

IQAX, recognized as a leader in digital trade intelligence, has teamed up with CargoNPay, a prominent logistics technology provider in China. This partnership integrates IQAX’s intelligent trade ecosystem and its blockchain-based electronic Bill of Lading (eBL) solution with CargoNPay’s advanced AI-powered document processing system. Together, they aim to create a seamless and secure shipping instruction process that meets the growing demands of freight forwarders throughout China.

Innovative Features of the Solution

At the core of this collaboration is the industry-first AI-based B/L Shipping Instruction paired with a blockchain-enabled electronic Bill of Lading. This innovative workflow automates, secures, and accelerates the entire process of trade document management. Here are the key features of this groundbreaking solution:

1. Automated Data Extraction: CargoNPay’s AI technology effectively identifies, extracts, and verifies crucial information from customer documents, generating precise data necessary for eBL applications.

2. Seamless Integration: Freight forwarders can now effortlessly transmit extracted data via CargoNPay's platform to carriers within the IQAX network, significantly speeding up the eBL initiation process.

3. Digital Issuance: With IQAX’s eBL, the issuance of legally binding electronic bills of lading is both secure and efficient, digitizing the full spectrum of trade documentation processes.

The deployment of this solution drastically minimizes manual data entry, leading to a substantial reduction in human errors. Moreover, document turnaround times—previously spanning days—can now be reduced to mere hours, streamlining operations for businesses involved in freight.

Remarks from Industry Leaders

George Guo, CEO of IQAX, remarked on the significance of the partnership, stating, "We greatly appreciate CargoNPay's expertise in AI-powered document recognition. This technological combination not only enhances operational efficiencies for freight forwarders but also fosters the development of a robust international digital intelligence trade ecosystem. It’s a significant step in our mission to empower the logistics industry."

Edward Ma, CEO of CargoNPay, highlighted the advantages the partnership brings, expressing, "Our collaboration with IQAX has unlocked the full potential of our AI technology in practical logistics applications. The integration of IQAX’s trusted eBL services has allowed us to establish a digitally seamless service that connects freight forwarders and carriers more effectively than ever before."

Expanding Capabilities

With this AI-powered B/L creation and eBL issuance service now available to CargoNPay users, the platform offers an extensive array of IQAX One digital services. These include real-time vessel scheduling, cargo tracking, inland transport monitoring, and electronic document submission—providing comprehensive visibility and automation throughout the logistics value chain.

About IQAX

IQAX is a pioneering digital trade intelligence company that facilitates informed decision-making across global supply chains. Their solutions—ranging from electronic Bills of Lading to digital twins—leverage proprietary technologies such as IoT, blockchain, and AI to help businesses overcome their most complex challenges. IQAX prioritizes security and integration within their enterprise-grade solutions, making them key partners for major shipping lines, logistics providers, corporations, and financial institutions worldwide.

About CargoNPay

CargoNPay stands out as a leading digital intelligent service platform within China's logistics ecosystem. Committed to fostering digital transformation, the company offers a robust suite of services that cover freight rate inquiries, cargo tracking, and customs declarations, among others. Their integration of internet technology, blockchain, and AI addresses critical inefficiencies faced by traditional cross-border logistics firms, promoting innovation and efficiency within the industry.

In conclusion, the collaboration between IQAX and CargoNPay signals a transformative shift in logistics, unlocking new levels of efficiency and security that will benefit the freight shipping ecosystem. As both companies continue to innovate, the future of shipping looks increasingly promising.