In the tech-driven global marketplace, developments in communications and logistics technology have led importers to demand the lowest possible price for a reliable and frequent supply of goods in good condition, regardless of the long-distance shipment of most items, services, and foodstuffs. However, there is a massive gap of $1.5T in global trade finance driven by the lack of reliable data and risk models. This means financing that importers request is being rejected as well as growth of trade and creation of new jobs are barricaded by it. Therefore, it is paramount importance of task to close this gap for improving the conditions of worldwide trade system.
Headquartered in Tel Aviv, Qlarium has taken this significant task of bridging the gap by delivering advanced data and risk assessment platform for international trade and global sourcing. Leveraging the potential of data science and AI, the company is delivering the fastest business intelligence and trade security services for companies that trade overseas. Moreover, Qlarium’s fully automated risk model is the most reliable BI (business intelligence) tool for those who wish to avoid losses associated with non-delivery, delay, and substandard quality.
Revolutionizing the Quantification of Global Trade Risk
Established in 2017, Qlarium practices world-class processes, cutting-edge tools and its deep understanding of market-leading supply chain organizations to assist enterprises to move beyond cost savings and to gain a competitive advantage over its rivals. For global customers, the company has developed an AI-based risk model that enables trade finance and insurance companies to gain deeper access to risk factors on the supplier-side of international trade transactions. This AI-based risk model automatically collects, scans, and structures data from different sources and then decides to allocate financing to support importers executing their trade with no risk. Through its flagship model, the leading streamlined supply chain and logistics company enables customers to get a list of suppliers and manufacturers who have the capability and resources to deliver products on short notice. It also provides fast and smart business decisions based on real-time alerts to customers. Qlarium’s AI technology constantly monitors the most relevant changes of international businesses to deliver its customers with industry-related services.
Best Supplier Option with Other Benefits
For small to medium-sized businesses (SMB), the standard payment term is 30/70 that means 30% deposit and 70% balance when the goods are ready after a few months. Due to this unfair condition, importers are under the heavy pressure to pay upfront and take the risk of dealing with a “poor” Chinese supplier and not having the products delivered on time. This is where Qlarium steps in to help these importers. Using its state-of-the-art technology, it offers traders/importers full security over their cash payments with its vetting package. In addition to this, the prominent company allows its importers to pay only 5% upfront and rest of 95% payment only in the end, once they receive the goods to their destination port. If the goods are not supplied on time due to any issue of the Chinese supplier, in that case, Qlarium pays 5% back to clients. These clients will also receive real-time information and monitoring on their Chinese suppliers so that they can be on the pulse of their supply chain. “Through this service, we enable importers and especially SMB like Amazon/eBay sellers, etc. to expand their business and run their supply chain like big professional corporations with their entire resources, auditors, agents, accountants, and lawyers can,” states the Co-founder & CEO of Qlarium, Yaron Shapira.
The Mastermind behind Qlarium’s Success
The major driver behind the success and reputation of Qlarium is Yaron. He holds B.S.C in computer science, B.A in economics and MBA from Bar Ilan University. Prior to Qlarium, he was a part of the founding team at the payment mobile app, Check, which was acquired by Intuit for $360M in 2014. Then, the seasoned leader was the Co-founder of TheCultureTrip. In 2006, Yaron alongside his Co-founder Assaf Dagan worked in Mercury, one of the largest and most successful Israeli startups which was acquired by HP for $4.5B.
Building Partnerships To Tackle Hurdles
Macro-economic developments and shifts in trading patterns impact global supply chains, which result in providing numerous opportunities as well as challenges for providers. To reinforce its global footprint, Qlarium is tackling current and emerging challenges with its innovative services. Its key pain point is to allocate enough resources to meet the demand it gets from importers. The company is conquering this issue through partnering with the largest insurance companies and financiers who support the global trade and especially the import from China through its flagship technology.
Better Services for SMBs
Presently, corporations already have an unfair advantage because their increased assets allow them to have boots on the ground in China, employ lawyers, auditors, etc. in an efficient manner to enable them to trade safely. Whereas, SMBs have to travel to China in person or use third parties which becomes very costly for them. Corporations also enjoy better-preferred terms of payment while SMBs are required to pay high deposits. The CEO Yaron is planning to change this indifference through Qlarium. The seasoned leader with his expert team is planning to let importers and traders focus on what they are good at, which is to distribute the goods in the homeland. As a result, SMB will also get that advantage too.