News and Media

Going paperless

Published on 15 November 2022

paperless-trade

Paperless trade – the march of progress

In September this year, we saw the best of British ceremony, pomp and tradition as the country mourned for Queen Elizabeth’s passing with a timeless display of historical theatre. Watching the horse and carriage parades, we could have witnessed events from two hundred years ago when British ships ruled the seas. The globe was painted pink and British merchants led the way in global trade.

It was a celebration embracing the old way of doing things. But there are some times when the old ways are not necessarily the best ways, and so whilst the world of international trade has moved on, it is surprising that the way transactions are documented largely hasn’t.

Which is why news from the UK last month that legislation was being passed to allow paperless trade and help move UK trade into the digital age is a long-awaited step in the right direction. For those of us involved in digital trading, we know that, done right, digital documentation for trade is not just more secure than a physical paper trail but also much more efficient. And because you’re not reliant on paper, it’s far easier to keep track of transactions to enable better, auditable record-keeping and aggregate data to see trends, gain insights and make more informed decisions.

As we’ve seen with the Queen’s funeral parades, the UK likes their marching. In acknowledging digital, paperless trading, we are at least witnessing the inevitable march of progress, with one more example of the world embracing the benefits of a digital economy.


Back to News and Media

In other news

  • Nui is proud to partner with Challenge
    Published on 21 September 2023

    As a leader in providing high-quality butter, Challenge knows flexibility and adaptability are key to staying ahead in an ever-changing market landscape and has developed the Challenge Butter Capacity Auction to offer unparalleled control over your butter supply for 2024. Read more

  • The power of digital trade – creating new opportunities in uncertain markets
    Published on 11 September 2023

    As the European dairy industry continues to face unprecedented challenges, Nui Markets CEO Kevin O'Sullivan discusses the benefits of embracing digital trade in uncertain markets. Read more

  • Nui launches Synlait's new online trading platform
    Published on 05 September 2023

    Nui is proud to partner with Synlait, providing an Enterprise platform that will complement the company’s direct trade relationships. Read more

  • Nui Markets features in El Financiero publication
    Published on 17 August 2023

    CEO of Nui Markets, Kevin O'Sullivan, talks to El Financiero about the innovation behind its agri-ingredient digital trading platform and how it can improve price discovery and trading networks for dairy manufacturers in South America and across the globe. Read more

  • Nui Markets North America brings buyers & sellers together in transparent marketplace
    Published on 04 August 2023

    Our digital trading partnerships in the US are going strong with Cheese Market News recently reporting on how Nui’s dairy platforms are broadening trade networks and improving price discovery. Read more