How tech is changing cross-border trade

Disruptive collaborative and communications technologies have changed the way cross-border trade operates by compressing the distance between nations, the director of cross-border business at Pitcher Partners Rohini Kappadath says.

Speaking to BlueNotes on video after presenting to an ANZ’s W:Drive event, Kappadath said the sector had changed as the world has become a lot smaller.

" Technology has become the big leveller but also the big point of difference, creating a competitive advantage for companies trading across borders."
Rohini Kappadath, Director of cross-border business, Pitcher Partners

“Communication across distances, cultures and borders is becoming really important,” she said. “Transactions are done between human beings at the end of the day.”

How tech is changing cross-border trade

The use of video communication has become vital in building trust and relationships in cross-border deals, Kappadtah said, and improved communications technologies have helped strengthen that.

“We work with Skype, we work with WhatsApp, we work with a whole heap of communications tools today in order to bridge that distance,” she said.

Innovative global supply chain solutions have also been a gamechangers, Kappadtah said.

“I think those supply chain optimisation solutions are becoming crucial to businesses today,” she said. “They help with efficiencies, reducing of costs and so on.”

She said the fintech revolution also having an effect on the sector as individuals and businesses change the way they source capital.

“There’s a considerable amount of disruption in this trade space,” she said. “Technology has become the big leveller but also the big point of difference, creating a competitive advantage for companies trading across borders. “

She also touched on the effect of payments tech like bitcoin and P2P have had on the sector. Watch the video above to find out more.

Angelique Beck is Business Manager Technology at ANZ

The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.

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