eWarehouse Receipt System
What is an eWarehouse Receipt?
This is an electronic version of a physical receipt, that drastically reduces physical paperwork and all associated health concerns that come from handling physical warehouse receipts.
The current pain points with regard to physical receipts:
The continuous spread of global Covid-19 pandemic and the safety and environmental management upgrade are driving the operating costs of the entire industry up.
Organisations are facing increasing financial pressures every day. However, for a long time, the traditional credit risk control system emphasizes on "reviewing the credit of the financing entity but not the goods", making it difficult for "small enterprises with high value of movable assets" to meet the credit granting conditions of financial institutions.
Based on the understanding of the factors above, the introduction of e-WHR which harnesses Blockchain Technology, would benefit the SME segment of the Warehousing companies.
How NTT DATA is solving the Challenge:
- An online implementation allows participants to transact from a distance (e.g., working from home, abroad), and sign safely and securely from their location. Less foot traffic to high-volume warehouses directly reduces the risk of community spread in these hub environments.
- Another benefit of having an eWHR is that they also support the use of decentralized warehouse locations which will both reduce occupancy costs and reduce footfall at more centralised warehouses.
Compared with traditional print warehouse receipts, the NTT DATA’s e-WHR Platform which leverages Blockchain Technology, is the first to realize strict correspondence between digital warehouse receipts and stored goods. Moreover, Blockchain technology ensures that the recorded data cannot be tampered. This could guarantee the uniqueness and traceability of the data, and greatly improve the industry's credit rating.
How much will it cost me?
IMDA supports Grants where a company needs to pay just SGD$700/month subscription on this platform.