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BB Energy and SGTraDex renew partnership to further digital borrowing base financing in Asia’s trade finance sector

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SINGAPORE, Nov. 14, 2024 /PRNewswire/ — BB Energy and SGTraDex renew strategic partnership to advance digital borrowing base financing across Asia. This continued collaboration underscores both companies’ commitment to streamlining access to online financing and advancing digital trade financing through innovative technologies.

The renewal follows a series of milestones since the initial Memorandum of Understanding (MoU) in August 2023, including a successful digital borrowing base drawdown in April 2024.

Laying the Foundation for Asia’s First Digital Borrowing Base

BB Energy, SGTraDex and Komgo first entered an MoU on 18th August 2023 to explore digital transformation opportunities in trade finance. The collaboration sought to modernise conventional trade finance processes through digital technologies that enhance verifiability, fraud detection and risk mitigation.

The partnership paved the way for Asia’s first digital borrowing base, with the inaugural drawdown taking place in April 2024. Supported by BB Energy, Natixis CIB and Saybolt, this milestone involved the digital exchange of essential documents like the Bill of Lading (BL), Certificates of Quantity (CQ) and Quality (COQ).

The successful conclusion of the digital borrowing base demonstrated the viability of a common data exchange layer in ensuring transparency and interoperability in data sharing across systems and organisations.

Thaw Yee Leng, Chief Market Development & Digital Strategy Officer, SGTraDex said: “SGTraDex is proud to have played a role in Asia’s first digital borrowing base, providing the secure data sharing infrastructure that enables real-time document exchange and verification, ensuring a reliable and transparent drawdown process between BB Energy and Natixis. We are excited on our partnership renewal with BB Energy, further anchoring the use of the data highway’s interoperable feature with partner systems, creating a seamless and trusted environment for digital trade.”

Unlocking New Possibilities in Digital Borrowing Base Financing

The renewed collaboration will continue to streamline digital borrowing base drawdown processes with financing banks by leveraging SGTraDex’s data highway to facilitate the exchange of essential documents between BB Energy and financing partners through Komgo’s platform.

Demonstration of viability and success of the digital borrowing drawdowns through the SGTraDex data highway will also pave the way for deeper collaboration and new initiatives through a renewed partnership, driven by a shared commitment to harnessing the value of secure, efficient digital trade financing.

Anbu Ramasamy, Regional CFO, Asia Pacific for BB Energy Asia, said: “We are excited to continue our journey with SGTraDex as we enhance our digital borrowing base initiatives. This partnership not only strengthens our position as pioneers in the digital trade finance landscape, but also demonstrates our commitment to advancing digital solutions that enhance transparency and efficiency in financing processes. We look forward to empowering our partners and clients to advance their digital trade finance processes with confidence, building upon the success and key learnings gained from our first digital borrowing base.”

Notes to Editor:

About BB Energy

BB Energy was founded by the Bassatne Family in the 1960s; with an operational history of more than 50 years. Over the last decade, the Group has expanded its trading operations and is now considered one of the leading independently owned energy trading companies globally. The Group is primarily engaged in trading crude, refined oil products, LNG, LPG and is further diversifying into the renewable space. While BB Energy remains a physical trader, it has also invested in midstream and downstream assets.

Today, BB Energy is a dynamic independent energy trading company with key trading hubs in London, Brussels, Dubai, Houston, and Singapore. The company has approximately 370 professionals in more than 10 offices worldwide and around 500 employees including the downstream businesses. In the last financial year, 2023, BB Energy traded volumes of around 25 million tons of crude, petroleum products and gas which resulted in a turnover of approx. USD 18.5 billion.

About SGTraDex

Launched on 1 June 2022, the Singapore Trade Data Exchange (SGTraDex) is a digital utility that facilitates the sharing of data between supply chain ecosystem partners, streamlining information flows through a common data highway where data can be shared in a trusted, secure and inclusive manner.

SGTraDex is a public-private partnership founded by IMDA, PSA, Trafigura, DBS, Jurong Port, OCBC, ONE, Advario, PIL, Standard Chartered and UOB. Their proprietary technology aims to resolve pain points in supply chain ecosystems including a heavy reliance on a paper-based system which lacks efficiency, transparency, and sustainability.

The move to digitalise information will increase productivity and build supply chain resilience. New efficiencies and opportunities will be unlocked when ecosystem partners can collaborate to achieve a shared visibility of the end-to-end supply chain. For more information, visit sgtradex.com

View original content:https://www.prnewswire.com/apac/news-releases/bb-energy-and-sgtradex-renew-partnership-to-further-digital-borrowing-base-financing-in-asias-trade-finance-sector-302305317.html

SOURCE Singapore Trade Data Exchange Services Pte. Ltd.

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Samyang ‘TRILITE’ Unveils New AI Water Treatment Solutions

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– Renewed homepage of Samyang’s industrial water treatment solution brand, ‘TRILITE’ … Featuring AI chatbot ‘TRIGENT’ and Design programs ‘TriAngle’
– Providing tailored and technical information to the user’s queries … Service available in over 100 languages.
– Innovative Water Treatment Design Softwares… Ion Exchange Resin and RO membrane

SEOUL, South Korea, Nov. 26, 2024 /PRNewswire/ — Samyang Corporation (CEO Kang Ho-sung) introduced its new website for its water treatment solutions brand, ‘TRILITE’ (http://www.samyangtrilite.com), along with the launch of an innovative Artificial Intelligence (AI), ‘TRIGENT(TRILITE AI Agent)’ at its headquarters in Jongno, Seoul.

Ion exchange resin is a cross-linked synthetic polymer, typically ranging from 0.3 to 1mm in size, and is essential for producing ultrapure water to clean semiconductors, displays, and electrical components by removing impurities and reducing ion content to near zero.

Samyang Corporation pioneered the development of Korea’s first ion exchange resin in 1976 and has since been recognized as a key contributor to the government’s agenda to localize ultrapure water technology.

The newly redesigned TRILITE website features the AI chatbot ‘TRIGENT,’ allowing users to access the information they need simply by typing questions, eliminating the need for manual searches.

With 50 years of accumulated ion exchange resin experience and knowledge, Samyang has developed an AI Chatbot by training which enables it to provide not only product information, process features, but also product recommendations based on applications.

TRIGENT is regularly updated to provide the latest information and supports over 100 languages, including English, Chinese, Japanese, Hindi, Spanish, French and Arabic, ensuring global accessibility.

Additionally, the updated website provides two types of the ‘TRIANGLE’ water treatment design software, helping users to design appropriate water treatment system based on their needs. While the previous version focused solely on Ion Exchange Resin system design, the latest update includes RO membrane system design on their website.

Through these tailored solutions, Samyang aims to offer a comprehensive one-stop service for building water treatment systems, while further expanding its presence in global markets.

Samyang CEO Kang Ho-sung emphasized, ‘We anticipate that the AI-powered website and design programs will enhance information accessibility, enabling us to offer the most suitable products and designs for water treatment systems to our customers. We will continue to drive digital innovation, a core focus of Samyang’s R&D, and deliver advanced services to both domestic and international markets”.

SOURCE Samyang Corporation

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Recruitment Process Outsourcing Market size is set to grow by USD 11.41 bilion from 2024-2028, cost reduction by streamlining the hiring process boost the market- Technavio

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NEW YORK, Nov. 25, 2024 /PRNewswire/ — The global recruitment process outsourcing market size is estimated to grow by USD 11.41 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  18.68%  during the forecast period. Cost reduction by streamlining the hiring process is driving market growth, with a trend towards emergence of data analytics and artificial intelligence. However, risk of overdependence on a single vendor  poses a challenge. Key market players include Accenture Plc, Adecco Group AG, Alexander Mann Solutions, Allegis Group, AMN Healthcare Services Inc., Automatic Data Processing Inc., Cielo Inc., Deloitte Touche Tohmatsu Ltd., Hays Plc, Hudson Global Inc., Infosys Ltd., International Business Machines Corp., Kelly Services Inc., Korn Ferry, ManpowerGroup Inc., Orion ICS LLC, PeopleScout Inc., Randstad Sourceright EMEA B.V., TrueBlue Inc., and WilsonHCG., ADP, Inc., IBM Corporation, Pontoon Solutions, Sevenstep, Fortune Media IP Limited

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Recruitment Process Outsourcing Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 18.68%

Market growth 2024-2028

USD 11414.6 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

15.28

Regional analysis

North America, APAC, Europe, Middle East and Africa, and South America

Performing market contribution

North America at 38%

Key countries

US, UK, Canada, Australia, and India, Germany, France, China, Japan, Australia, South Korea, Brazil, Mexico, Saudi Arabia, South Africa, UAE

Key companies profiled

Accenture Plc, Adecco Group AG, Alexander Mann Solutions, Allegis Group, AMN Healthcare Services Inc., Automatic Data Processing Inc., Cielo Inc., Deloitte Touche Tohmatsu Ltd., Hays Plc, Hudson Global Inc., Infosys Ltd., International Business Machines Corp., Kelly Services Inc., Korn Ferry, ManpowerGroup Inc., Orion ICS LLC, PeopleScout Inc., Randstad Sourceright EMEA B.V., TrueBlue Inc., and WilsonHCG, ADP, Inc., IBM Corporation, Pontoon Solutions, Sevenstep, Fortune Media IP Limited

Market Driver

The Recruitment Process Outsourcing (RPO) market is experiencing significant growth due to the integration of data analytics and artificial intelligence. HR teams are utilizing vast amounts of data to make informed recruitment decisions, with tools like people analytics and recruitment analytics playing crucial roles. Data sources extend beyond traditional qualifications to include personality traits, with platforms like LinkedIn’s Talent Insights employing big data analytics for enhanced statistical hiring. AI enhances candidate engagement through real-time communication and onboarding support, reducing the need for HR interaction and fostering market expansion. 

The Recruitment Process Outsourcing (RPO) market is experiencing significant growth, with businesses increasingly relying on RPO services to manage their hiring needs. This trend is driven by the benefits RPO offers, such as cost savings, improved efficiency, and access to a larger talent pool. RPO providers use advanced technologies like AI and machine learning to streamline the recruitment process, making it more effective and productive. Additionally, RPOs offer customized solutions tailored to specific industries and companies, ensuring a better fit for the organization’s hiring needs. Overall, the RPO market is poised for continued growth as more businesses recognize the value of outsourcing their recruitment processes. 

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 Market Challenges

The reliance of organizations on a sole Recruitment Process Outsourcing (RPO) vendor for all recruitment activities can negatively impact business operations. Risk of confidential information exposure and strained relationships due to demanding behavior from RPO firms are concerns. Effective communication between RPO firms and clients is crucial to mitigate failures and strengthen partnerships. Overreliance on a single RPO vendor may hinder market growth during the forecast period.The Recruitment Process Outsourcing (RPO) market faces several challenges. Talent acquisition and retention are key concerns, requiring advanced technologies and strategies. Consistent with this, the need for cost-effective solutions and efficient processes is paramount. The use of technology, such as AI and machine learning, can streamline processes and improve candidate selection. However, the integration of these technologies with existing HR systems can be complex. Additionally, cultural fit and compliance with labor laws in various regions pose challenges. The RPO market must adapt to these challenges to provide effective and efficient solutions for businesses.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview 

This recruitment process outsourcing market report extensively covers market segmentation by  

End-user 1.1 IT and telecom1.2 Manufacturing1.3 BFSI1.4 Healthcare1.5 OthersType 2.1 Large enterprises2.2 SMEsServiceGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 IT and telecom-  The global recruitment process outsourcing market is experiencing growth due to the adoption of just-in-time recruitment and SMAC technology. Just-in-time recruitment allows for faster response to client needs, optimizing resources, and tapping potential candidates. Wipro Infotech, for instance, implemented this approach to hire 900 people and secure larger projects. SMAC technology, such as Cognizant’s cloud-based applicant-tracking system, offers benefits like language support, cost reduction, and social media integration. Despite the challenges posed by the COVID-19 pandemic, the market is expected to recover as businesses resume operations and focus on hiring again.

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Research Analysis

The Recruitment Process Outsourcing (RPO) market is experiencing significant growth due to the increasing adoption of Artificial Intelligence (AI) and Machine Learning (ML) technologies. RPO providers are assisting HR departments and resourcing teams in managing recruitment-related operations, from candidate sourcing and screening to offer execution. A written agreement between the HR department and the third-party RPO provider is crucial for the successful implementation of RPO services. The use of RPO suppliers enables organizations to access a larger pool of skilled workers, reducing the nightmare scenario of hiring freezes and backlogs. Job posting and recruitment are essential functions of RPO, ensuring that the right candidates are identified and selected for various roles within an organization.

Market Research Overview

The Recruitment Process Outsourcing (RPO) market refers to the practice of outsourcing the recruitment process to third-party service providers. This market has gained significant traction due to the benefits it offers, such as cost savings, improved efficiency, and access to a larger talent pool. RPO providers use various technologies and methodologies, including applicant tracking systems, social media recruiting, and artificial intelligence, to streamline the recruitment process. The RPO market caters to various industries and sectors, including IT, finance, healthcare, and retail. The services offered by RPO providers range from end-to-end recruitment solutions to project-based recruitment support. The market is expected to grow at a steady pace due to the increasing demand for flexible and efficient recruitment solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userIT And TelecomManufacturingBFSIHealthcareOthersTypeLarge EnterprisesSMEsServiceGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Unwrap the Perfect Holiday Gift: Assorted Christmas Wine Baskets for Celebrations

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Enjoy Thoughtfully Curated Wine and Champagne Baskets from Leading Retailers for a Memorable Holiday Gift Experience

VIENNA, Va., Nov. 25, 2024 /PRNewswire/ — This holiday season gift-givers are opting for Christmas Wine Gifts Baskets, considered as a timeless option to lay out the joy of Christmas festivities. These carefully assorted Christmas wine baskets are an ideal choice for family get-togethers, corporate gifting and self indulgence. When appetizing nibbles and gourmet delicacies are paired along with fine wines running from the celebratory Prosecco to traditional red wine, it creates a delightful souvenir experience.

Wine being an emblematic symbol woven into many stories and traditions, is a drink associated with celebration and festivities. Gifting during the holiday season is about the spirit of thoughtfulness and a well curated Christmas Wine Basket reflects just the same. Each basket involves a level of personalization where one can add items according to the recipient’s taste and preference.

Holiday season is considered frantic and since owing to the lack of time gift baskets are an ideal choice where one can combine multiple items in one ready made package. The demand for Christmas wine baskets that blend traditional wine with savory treats along with hassle-free doorstep delivery has splurged in recent years, particularly during the holiday season.

To cater to this increasing gifting demand two of the leading online retailers- Wine & Champagne Gifts and DC Wine & Spirits are meeting the force, with their beautifully designed Christmas gift baskets consisting of fine quality wines paired with assorted gourmet treats suits every palate with variety of preferences.

When combined with the finest wines and snacks, a Christmas wine basket can further enhance the festive atmosphere. These baskets blend opulence, style, and joy, making them ideal for a friend, coworker, or employee.

The following are the best suggestions that are thought to be the best picks for the Christmas season:

Prosecco Wine Basket is considered a popular choice among those who enjoy a refreshing sparkly bubbly signatory to the spirit of celebrations. The prosecco gift basket typically includes a bottle of prosecco along with sweet gourmet chocolates, decadent brownies and crunchy cookies- creating a perfect combination for a celebratory toast.

Red Wine Basket is for those who have a fondness for red wines, a red wine basket consists of complex full bodied red wine which you can enjoy during the big Christmas dinner with hearty meat based dishes or simply along with the  appetizers like crackers, gourmet cheeses, sausages and fine beef jerky included in the basket. The pairing of these savory bites along with the best wines for Christmas enhances the tasting experience and ensures the gift is in mind long after the holiday season.

Additionally, those seeking for perfect wine and cheese pairing can go for a Wine and Cheese gift basket. These baskets offer a collection of fine wines running from bold red to crisp whites paired along with a range of cheeses- from sharp cheddar to creamy brie. This equilibrium of flavors makes them the perfect gift for connoisseurs who like a savory indulgent with their wines. It’s a gift that feels both luxurious and thoughtful, preferred for anyone who likes the art of pairing food  and drink.

The need for personalization is necessary when giving a thoughtful gift, both the retailers allow options to customize the baskets according to preference whether it’s choosing a bottle of wine, treats or adding a heartfelt message on the bottle. This allows them to create a gift that feels truly bespoke whether it’s for family, close friends or corporate colleagues. Wine & Champagnes Gifts sells personalization bottles of various wines and champagnes, which are a popular choice among and make a wonderful addition to a Christmas wine basket.

On the other hand DC Wine & Spirits with their easy and efficient delivery allows one day delivery option for their curated Wine Gift Baskets, bourbon whiskey baskets, prosecco wine baskets, and champagne gift baskets, which includes a variety of wines from robust red and crisp whites to premium Champagnes paired with savory delights like crackers, nuts and cheeses and sweets like cookies, truffles and gourmet chocolate whilst ensuring that the gift arrives promptly, right at the doorstep. Their wine gift delivery service covers various locations and is favorable for last- minute shoppers who want to ensure their gifts arrive on time.

Additionally, DC wine gift store provides an excellent customer support team that is always ready to assist making the shopping experience seamless and hassle-free providing customers with a memorable gift giving experience.

Let your Christmas gift be a toast to the season’s festivities, joy, and indulgence. These Christmas wine baskets are the best way to add a sparkle and joy in this holiday giving season. With quick and efficient delivery options, remarkable customer service, and the option to personalize each basket, one can sit back and relax whilst being sure that the gift will surely make a lingering impression that stays beyond just the holiday season.

https://www.instagram.com/wineandchampagne_gifts/
https://www.facebook.com/wineandchampagnegifts
https://twitter.com/WnC_Gifts
https://www.linkedin.com/company/wine-and-champagne-gifts/

Name: Charu Smith
Email: charu@wineandchampagnegifts.com 
Phone Number: 703-349-1080

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SOURCE Wine And Champagne Gifts

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