CrimsonLogic is part of PSA International, the global port operator and supply chain partner to cargo stakeholders. CrimsonLogic is a global technology company driven by innovation to digitalise and simplify global trade.
It specialises in technology enablement in the fields of trade facilitation, trade compliance, trade logistics, port operations and government services.
As a trusted partner to businesses, logistics service providers and governments, its tailored solutions are designed to meet the unique needs of every client, enabling seamless and secure optimisation of supply chains and their operations.
Here, Siddharth Priyesh, Head of Americas and Caribbean with CrimsonLogic, shares insight on how the company is helping business use technology to take supply chain management to the next level.
Describe your role at CrimsonLogic
I’m responsible for the full spectrum of business and operations in North America, South America and the Caribbean. I manage our customer and partner relations and drive new business opportunities so that we achieve our revenue as well as strategic goals for the region.
What is the most powerful use of tech you've seen?
The most powerful use of technology lies in its ability to fundamentally transform the way we go about living our lives, conducting business and managing relationships. We have seen technology used to connect people like never before, accelerate human progress and address global challenges that would have otherwise taken decades to solve.
The effective use of AI & ML has allowed our clients to have on-hand insights that would have been impossible to discern manually given the vast amounts of data circulating.
Traders now make informed decisions and transact business, on an almost real-time basis, sitting anywhere in the world once they have a network connection.
Technology has lowered the barriers to entry for many small to medium sised companies and enabled them to be able to market and sell their products and services globally.
Tech helps businesses manage and navigate the complexities of global trade regulations, multiple stakeholder systems and the unpredictability of geopolitical scenarios.
How is tech helping supply chain compliance?
At CrimsonLogic we are in a somewhat unique position given our experience in building trade systems for both
governments (G2B) and businesses (B2B). It has allowed us to have a good sense of the priorities of governments and businesses as well as know where their priorities intersect.
For example, both sides are required to ensure they adhere to the existing rules and regulations, such as compliance. Both sides would also like a certain degree of predictability in their operations known as certainty. Lastly, both sides would like to be able to exchange information more efficiently for connectivity.
When it comes to compliance, one big challenge businesses face is in deciphering all the rules and regulations and ensuring they can navigate them correctly, given the documentation and clearances required to change from country to country.
Technology helps ensure that forms are correctly filled, reducing back and forth with government agencies. AI and ML ensures that goods are classified correctly, and helps provide complex advisory services such as systems informing traders of ways they can leverage FTAs to secure better market access and more.
On the government side, AI/ML and predictive uncover compliance violations, preventing the loss of tax revenue and entry of counterfeit goods without impacting the speed of business adversely.
How is tech helping cross-border trade?
Technology plays the role of an enabler, a bridge that connects the digital islands, traverses the paper chasms. This is because stakeholders are at different levels of sophistication when it comes to the use of technology in their day-to-day operations. The use of advanced digital solutions has created a paradigm shift in the traditional trade, leading to increased efficiency, transparency and accessibility.
Best advice ever received?
One should prepare to excel in the world as it exists but at the same time strive to make it better than how it is by solving everything and learning to prioritise.