Chinsay Signs Anglo American to Enhance Trade Digitisation
Singapore/Stockholm/London – Anglo American, a globally diversified mining business, has signed a deal with tryb portfolio company Chinsay to implement Chinsay’s Recap Manager, a single cloud-based SaaS system for end-to-end contract management for ocean freight operations.
Anglo American will utilise Chinsay’s Recap Manager system for creating, reviewing and managing digital freight contracts. Anglo American’s contract data will be hosted and protected by Chinsay, applying the highest standards for security and integrity.
Strategic Focus for Anglo American
“Digitalizing our freight workflow is a strategic focus for Anglo American. Chinsay’s independent platform will allow us to make faster decisions with better information and manage risk more effectively around charter parties” said Peter Lye, Global Head of Shipping at Anglo American. Peter continued, “technology is a core focus for Anglo American and we chose to partner with Chinsay based on their leading technology and long track record in secure digital contract management for the maritime freight industry.”
Agreement between Anglo American and Chinsay aims to improve Anglo American’s work flow, collaboration and productivity around Charter Party Agreements.
“We are honoured to partner with Anglo American and look forward to supporting their technology and innovation efforts,” said Dag Sunden-Cullberg, Founder and Chief Executive Officer of Chinsay. He continued, “mining and commodity companies, like Anglo American, that take advantage of secured cloud, mobile, collaborative risk and analytics technologies, such as those offered by Chinsay, will drive seamless work flow and improved productivity internally and with external counter-parties.”
Market Penetration and Improved Freight Market
“Due to continued market penetration for Chinsay and a generally improved freight market, we expect to see a higher volume of digital contracts through our platform compared to 2016 and are committed to helping Anglo American and the mining industry stay ahead of the acceleration of trade digitisation” stated Colin Hayward, Managing Director of Chinsay’s Singapore office. He continued, “an increasing number of our clients expect their counterparties to be ‘digital first’ when it comes to charter parties, contracts and operational matters related to their business and we expect this trend to continue.
Chinsay Recap Manager
Chinsay’s platforms for freight and commodities enable global businesses to collaboratively create, review and manage their trade contracts. Chinsay’s digital workflow unlocks efficiencies, mitigates the risk of contractual errors while ensuring that internal and external compliance is automatically enforced. By using digital contracts on Chinsay, contractual data is easily visualised and analysed which enables faster and better decision making.