Bangkok--28 Apr--PTT
PTT Group announced itself as the Centre of Excellence for Export by developing PTTPM Export Easy system in which Letter of Credit is converted into electronic format for the first time in the world, enabling purchasing orders and company’s database to be fully integrated. Not only does it make conducting export businesses more convenient than ever, but it also minimizes processes, accelerates paperwork handling, and reduces human errors by up to 80%. This proves to be an innovative system for enhancing export businesses of Thailand and the company believes that PTTPM Export Easy system will revolutionize international trades.
Dr. Pailin Chuchottaworn, Managing Director of PTT Polymer Marketing Company Limited (PTTPM), stated that PTTPM has developed PTTPM Export Easy system to enable electronic trading on a web browser by linking data from various existing IT systems such as purchase orders from online B2B, customer’s database from CRM (Customer Relationship Management System), and administration of internal accounting, finance and inventory control from ERP (Enterprise Resource Planning System), together with production scheduling, material sourcing and supply chain management. The internal data on the PTTPM Export Easy system can then be linked and accessed by the other parties such as banks, shipping lines and insurance companies.
This full integration helps reduce complexity of transactions and immensely increases the speed of preparing and processing documents up to 5 times faster than traditional procedures. Moreover, the system can eliminate up to 80% of human errors throughout the whole process, which could cut down approximately 25 million Baht of expense per year. In turns, customers would benefit from receiving all accurate documents enabling them to process clearance of goods in a faster and more effective manner.
Dr. Pailin also said that the development of PTTPM Export Easy is the latest gateway and the World’s first system that L/C received from banks will be in electronic form and are fully connected with other systems. This can be considered as the last piece of the jigsaw that allows PTTPM to become Centre of Excellence for Export to meet up with the customers’ expectations and be more competitive in the global arena.
Centre of Excellence for Export, the company’s most innovative system by far, has become PTT Group’s and PTTPM’s pride that also sends a message to the world that Thailand has the abilities to effectively accomplish international trades. The company hopes that its center will set an international standard for others to follow in the near future and sees PTTPM Export Easy system as the first step of innovation for Thailand export to grow stronger internationally.
PTT Polymer Marketing Company Limited is a company of PTT Group that markets and sells petrochemical products with a customer base in more than 100 countries around the globe. PTTPM is the leader in Thailand polymer business reflected by nearly 30,000 million Bath of sales in 2008 with expected continuous growth. With upcoming new and additional expansion of production capacity together, PTTPM is set to become an international polymer trading house with 100 billion Baht sales capacity by 2015.