Increasing trust and transparency with the new Electronic Bunker Delivery Note
Digital transformation in the bunker industry, with its historic heavy reliance on manual, paper-based processes, is inevitable and central to increasing transparency and efficiency.
BTS, a bunker supplier software company recently acquired by ZeroNorth, has as a part of a call-for-proposals by MPA for Digital Bunkering Solutions in 2021 developed the electronic bunker delivery note (eBDN), aiming to transform bunker delivery operations, offering streamlined processes, improved security, and enhanced collaboration.
The documentation requirements in the bunker delivery process has long been very tedious and hindering efficiency and productivity. One of the most significant challenges is the slow delivery of documentation between bunker suppliers and financial institutions. This delay often results in prolonged transaction times and increases the risk of errors or discrepancies. Additionally, the reliance on manual data entry and paper forms places a heavy administrative burden on barge crews, slowing down operations and decreasing productivity. Lastly, the vulnerability of paper-based processes to tampering and errors poses a considerable risk to the security and integrity of the bunkering ecosystem.
The eBDN addresses these challenges head-on, leveraging the power of digitalisation to revolutionise the bunker delivery process. By digitalising and automating operations, the solution streamlines workflows, reduces manual errors, and enhances efficiency throughout the industry. The benefits are far-reaching and encompass various stakeholders within the ecosystem.
One of the primary advantages of BTS’ solution is the seamless delivery of crucial documentation between stakeholders. By facilitating swift and secure verification of fuel quantities purchased, the platform eliminates delays and ensures smooth transactions. This not only accelerates the clearance of payments for financial institutions but also fosters improved operational efficiency throughout the industry.
By replacing paper-based processes prone to tampering and errors with a secure digital platform, the solution mitigates risks and enhances the integrity of operations. Financial institutions, in particular, have shown great interest in the potential benefits of digitalisation, acknowledging the increased security and reliability offered by trusted eBDN.
Beyond individual benefits, the digitalisation of the bunker delivery process fosters collaboration among stakeholders and drives industry-wide efficiency. Greater data sharing and real-time access to information enable more efficient operations and enhance collaboration among bunker suppliers, banks, and financial institutions. This increased transparency and collaboration create a robust ecosystem that is better equipped to adapt to evolving challenges.
In addition to the operational advantages, the eBDN contributes to a more sustainable bunkering industry. By eliminating millions of paper forms per year, the company reduces the environmental impact associated with traditional paper-based processes. This commitment to sustainability aligns with the growing global focus on eco-conscious practices and demonstrates ZeroNorth and BTS's dedication to a greener future.
Digitalisation of the bunker industry will not only ensure more streamlined operations, swift documentation, and enhanced security. It is also an important step in the green transition, which the industry as a whole has begun and will be seriously hampered without increased collaboration and transparency.