Singapore’s Commodities Intelligence Centre (CIC) has launched the international version of its web-based business intelligence suite, CIC Data Pro, and Leads Generation Service. Eligible members, particularly small- and medium-sized enterprises (SMEs), will gain access to the packages under a governmental program in order to tide over the challenges following COVID 19, push on with digital transformation efforts and emerge stronger.
CIC Data Pro provides big data analytics from a collection of 1.5 billion records of customs and trade data in a broad range of industry verticals, from manufacturing, import-export, wholesale and logistics to financial services. It will provide customized market insights into the trading activities of global companies, and information on counterparties, production specifications and past shipment details of businesses from more than 90 countries across Asia, Europe, and the Americas.
CIC Data Pro aims to help companies reduce transaction costs, optimize the efficiency of their supply chains across cross-border trading, financing, logistics, compliance and risk management, achieving greater trading synergies globally.
Peter Yu, Chief Executive Officer of CIC, said: “Every industry has been impacted by the global spread of Covid-19. Businesses around the world are facing greater risks and challenges with the disruption of production and supply chains coupled with increased uncertainties of customer demand. CIC Data Pro and Lead Generation Service will enable companies to diversify their revenue sources and extend the global reach of their supply chains, building business resilience against the pandemic.”
CIC is a joint venture by Singapore digital bank hopeful ZALL Smart Commerce Group, Global eTrade Services (GeTS) and Singapore Exchange (SGX). As Singapore’s first physical commodity B2B e-trading platform powered by blockchain, CIC looks to build trade connectivity through digital marketplaces and create a vibrant trading ecosystem in Singapore and beyond. Since launching in October 2018, CIC has achieved a gross merchandise volume of US$12.7 billion (S$17.7 billion), with over 5,000 registered users from Singapore, Malaysia, Indonesia, India and China, among other countries in Asia.