KUALA LUMPUR, May 23 (Bernama) -- Ferrexpo -- a London Stock Exchange listed iron ore company, signed an agreement with Chinsay -- a market leader in dry bulk freight software, to implement Chinsay´s Recap Manager (RM).
Chinsay´s RM is a single cloud-based software as a service (SaaS) system and will be used for end-to-end contract management and counterparty collaboration tool for Ferrexpo´s ocean freight operations, a statement said.
The iron ore company will use Chinsay´s system in managing digital freight contracts across their offices worldwide. Ferrexpo will be able to create, edit, review and share contract information both internally and externally.
The platform will also enable Ferrexpo to reduce the time to finalise all their charter party work and minimise the potential for contractual errors with risk and compliance oversight.
Founder and Chief Executive Officer of Chinsay, Dag Sundén-Cullberg said: "We will be able to provide Ferrexpo with market best practices by using our secure cloud based collaborative platform to help identify and manage risk and use analytics technologies to enhance their performance. " Chinsays has offices in Singapore and Sweden.
Meanwhile, Global Freight Manager, Michael Gardiner said with operations across the globe, the company view Chinsay as an efficient and critical tool to ensure operational excellence in contract operations.
--BERNAMA
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