February 9 2021, Singapore, Helixtap Technologies, the independent, digital marketplace for rubber, today announces the live launch – using the freemium model – of Helixtap Ecosystem, to drive innovation and value in the rubber industry.
Commodity firms currently use outdated technology and operate within closed networks, with smaller players in developing markets unable to access wider audiences or capital to get financing for raw material or expansion, seen in the current US$1.5 trillion trade financing gap. In addition, cost constraints prevent investments into business development and technology platforms to support procurement or trading to enable better pricing of long-term contracts.
Segsarn Trai-Ukos, Managing Director of SMPT (Michelin) comments, “We now have technologies to move faster, to simplify the supply chain. The key advantage, here in Singapore, is that we have the technology and people with competencies available so that we can bring the right advantages to create sustainable rubber production. This will benefit the smallholders and producers, as well as using technology to provide better transparency for the right pricing and the right financing options.”
Helixtap Ecosystem provides a secure, independent marketplace for sellers, buyers and service providers to interact, with lower transaction costs and increased buyer/seller discovery. By using real-time data, the platform provides attractive financing options for rubber industry participants and increases access to more favourable rates across shipping, financing and insurance. As a cloud-based platform, there is no capex outlay, and the freemium model allows access to everyone across the supply chain. The range of services available through the platform includes support for companies to achieve net-zero emissions and business development goals, and proprietary data sets to support long-term contract pricing.
All rubber industry participants from up to downstream can access the secure, digital marketplace, and the platform has already enjoyed strong initial user growth during its closed beta. Larger organisations can choose a subscription service, with a dedicated account manager providing a concierge service, significant trading commission discounts and preferred access to trade financing options. From smallholders, producers and processors, through to brokers, commodities traders and consumers, Helixtap Ecosystem enables all market participants to streamline processes with real-time data, immediate transactions, live tracking, and support for global market expansion. There are also certain role-based features, such as a real-time calendar of upcoming shipments for operations teams.
Michael Coleman, Deputy Chairman of the Singapore International Chamber of Commerce Rubber Association notes, “Technology will play a key role in helping natural rubber meet its sustainability goals as well as providing better transparency in how markets are traded and how markets are priced, supporting the move to the democratisation of markets.”
Farah Miller, CEO of Helixtap Technologies continues, “Innovation in the natural rubber market is long overdue and we are delighted to offer all market participants a digital marketplace to grow their businesses and provide greater transparency in the agricultural commodities market.”
About Helixtap Technologies
Helixtap Technologies provides an independent, vibrant digital marketplace for the natural rubber industry, lowering transaction costs, removing operational inefficiencies, and creating opportunities for the entire supply chain across pre-trade, trade and post-trade environments. Read more here.
Société des Matières Premiéres Tropicales Pte Ltd
Société des Matières Premiéres Tropicales Pte Ltd (SMPT) is a wholly-owned subsidiary of Michelin Group that procures natural, synthetic (Asia), and composite rubber. Michelin is a French multinational tyre manufacturing and is the largest tyre manufacturer in the world.
Singapore International Chamber of Commerce Rubber Association
The interests of Chamber members involved in the rubber trade are looked after by the Singapore International Chamber of Commerce Rubber Association (SICCRA), an independent organisation comprising of ordinary and associate members.