# OpenPort Partners with Acudeen Technologies to Overcome Inefficiencies within the Logistics Industry
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2018-05-08
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: OpenPort and Acudeen Partnership Revolutionises Supply
Meta Description: Lower capital requirements, increased visibility, reduced disputes, and faster order to cash cycles. Transforming SME financing and logistics operations.
URL: https://financedigest.com/openport-partners-with-acudeen-technologies-to-overcome-inefficiencies-within-the-logistics-industryhtml

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_Partnership provides lower capital requirements, increased visibility, reduces disputes and greatly lowers proof of delivery delays_

[OpenPort,](https://openport.com/) the digital logistics platform that uses blockchain technology to transform domestic distribution in emerging markets, today announced a partnership with Acudeen Technologies, the peer to peer platform enabling small and medium enterprises to access financing.

Commenting on the announcement, OpenPort Founder and CEO Max Ward said, “High capital requirements, cash flow problems, and a lack of visibility are just some of the issues currently hindering the growth of the supply chain industry due to the reliance on paper-based solutions. This partnership is not only monumental for both parties involved but has the potential to bring the supply chain industry to modern day.”

“OpenPort’s blockchain solutions provide Acudeen with greater visibility and accuracy which in [turn allow](https://www.financedigest.com/total-allowable-catches-tac-and-fishing-quotas-across-the-world-turning-favourable-for-the-global-mackerel-market-sales.html "Total Allowable Catches (TAC) And Fishing Quotas Across The World Turning Favourable For The Global Mackerel Market Sales") them to greatly reduce the level of non-performing liabilities. While Acudeen provides faster order to [cash cycles, solving cash flow](https://www.financedigest.com/covestro-sees-lower-2023-profit-cash-flow-as-macro-challenges-prevail.html "Covestro sees lower 2023 profit, cash flow as macro challenges prevail") issues that have been inherent in the industry. Together, we look forward to overcoming these significant challenges for SMEs and multinational corporations alike and adding tremendous [value to all stakeholders in the supply](https://www.financedigest.com/gonorrhea-therapeutics-market-value-share-supply-demand-share-and-value-chain-2021-2031.html "Gonorrhea Therapeutics Market Value Share, Supply Demand, share and Value Chain 2021-2031") chain,” Ward added.

Acudeen [Technologies connects sellers of receivables to buyers willing to invest](https://www.financedigest.com/adnami-to-receive-six-figure-sum-of-investment-from-danish-government-in-recognition-of-its-pioneering-technology-and-strategy.html "Adnami to receive six-figure sum of investment from Danish government in recognition of its pioneering technology and strategy") in them, while tackling one of the most prominent problems facing SMEs, being a lack of access to funding and capital. The [company strives to alleviate these liquidity](https://www.financedigest.com/automated-liquid-handling-systems-market-global-leading-companies-analysis-revenue-trends-and-forecasts-2027.html "Automated Liquid Handling Systems Market Global Leading Companies Analysis, Revenue, Trends and Forecasts 2027") problems by utilising movable assets like receivables. Today, Acudeen is present in the Philippines and Myanmar, assisting over 3000 SMEs. Acudeen is regarded as Founder Institute’s Best [Global Fintech and one of IDC’s Top 10 fastest growing](https://www.financedigest.com/fish-based-pet-food-market-to-surpass-us-16213-2-mn-as-demand-for-pet-food-with-high-nutritional-value-grows-globally.html "Fish Based Pet Food Market to Surpass US$ 16,213.2 Mn as Demand for Pet Food with High Nutritional Value Grows Globally") fintechs in the Philippines of 2017.

Mario Jordan “Magellan” Fetalino III, Founder and CEO of Acudeen Technologies said, “This partnership strengthens our ecosystem to support small, logistics businesses, and aligns with our company’s mission to [create an inclusive environment for SMEs in emerging markets](https://www.financedigest.com/could-the-surging-build-to-rent-market-create-emerging-opportunities-for-investors.html "Could the surging build-to-rent market create emerging opportunities for investors?"). Through OpenPort’s technology and utility of blockchain, we are able to leverage their capabilities to trace the delivery progress of goods and services as a means to help financial institutions come up with a more informed decision to provide cheaper and more accessible financing for [small](https://www.financedigest.com/pakistan-floods-add-to-pain-for-struggling-small-businesses.html "Pakistan floods add to pain for struggling small businesses") logistics businesses.”

“In financing, [credit risk mitigation is the most important](https://www.financedigest.com/why-is-trade-credit-insurance-important.html "Why is Trade Credit Insurance Important?") component towards feasibility. More often than not, what hinders large financial institutions to provide [financing access to small businesses](https://www.financedigest.com/government-assisted-financing-schemes-for-small-businesses.html "Government Assisted Financing Schemes For Small Businesses") is the high credit risk involved, which is why this partnership is a step in the right direction for both Acudeen and OpenPort,” added Fetalino.

“Forming exciting [partnerships like this one showcases our ambition to extend](https://www.financedigest.com/britains-jd-sports-extends-nike-ties-with-partnership-deal.html "Britain’s JD Sports extends Nike ties with partnership deal") the reach of the blockchain-powered logistics movement to operators worldwide, irrespective of their size. Partnering with Acudeen Technologies is a ringing endorsement from one of the fastest growing and highly coveted [peer to peer platforms in the world](https://www.financedigest.com/six-reasons-why-digital-world-classtm-finance-organizations-outperform-peers.html "Six Reasons Why Digital World ClassTM Finance Organizations Outperform Peers"), we look forward to a lasting relationship,” said Ward.

OpenPort’s blockchain logistics solutions deliver [supply chain](https://www.financedigest.com/strained-supply-chains-keep-u-s-producer-prices-hot.html "Strained supply chains keep U.S. producer prices hot") transparency for the world’s largest companies. Asia’s only multinational digital logistics provider, OpenPort provides ERP-integrated shipment visibility from pick-up to delivery, and irrefutable proof of delivery from any road freight transporter for maximum security, trust and traceability.

This announcement comes as OpenPort recently launched the [Open Enterprise Logistics (OEL) Foundation](https://oel.foundation/), a non-profit organization open to enterprises in the supply chain and logistics industry. The Foundation is committed to providing governance, development, and [open source](https://www.financedigest.com/why-should-investors-be-paying-more-attention-to-open-source-software.html "Why should investors be paying more attention to open source software?") collaboration for the OEL Protocol and is preparing for its token generation event (TGE) which is set to commence later this year.

For more information about OpenPort visit: [https://openport.com/](https://openport.com/)


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