In a time when disruptions are rife and problems appear to crop up faster than they can be solved, there is actually a solution to everything – growth. It may not seem immediately obvious, but if you take time to ponder, you will realise growth is a familiar concept that underpins companies going from local to global and thriving despite fierce competition. Such is also the journey of homegrown tech firm – CrimsonLogic.
In 1988, Singapore had just confronted its first recession and the government was looking to technology as a means to improve the nation’s competitiveness. Seeing opportunities and possibilities, CrimsonLogic looked to use technology to change the way things were done. This also cemented our beginning as a disrupter during a period when disruptions were relatively unknown and rare.
PICKING THE BATTLEFIELD
With trade volumes being three times more than the nation’s Gross Domestic Product (GDP), revolutionising the way trade documents were processed held promise of great returns. Hence, it naturally became an area of focus for CrimsonLogic.
This eventually led to the birth of TradeNet. The single window system allowed for trade submissions and approvals between multiple parties. Although the concept of reusing information across multiple agencies seems simple in comparison to the technology innovations we see today, TradeNet was deemed to be revolutionary for its time.
At a time when the Internet was non-existent and the notion of conducting business with government agencies on digital platforms was unimaginable, TradeNet provided a means for greater efficiency for the Singapore government and businesses. More importantly, however, it presented an opportunity for CrimsonLogic to expand our presence beyond Singapore.
MAINTAINING THE GROWTH MOMENTUM
Recognising that availability and accessibility to easy-to-use and affordable technology will change the way we interact, consume information and do business, CrimsonLogic has adopted a products and services strategy to accelerate our impact and ability to scale.
The product strategy aims to translate our deep domain experience in trade, judiciary and digital governments into replicable solutions. Currently into the second phase of development for most of our products, we are staying on track to roll out solutions in an expeditious manner.
Simultaneously, we have set up a subsidiary – Global eTrade Services (GeTS) – to improve trade flows. GeTS aims to encourage smooth flow of goods through its offerings. One such GeTS initiative to build a next- generation supply chain orchestration solution is CALISTATM, which focuses on ensuring seamless exchange of information for trade compliance, logistics orchestration and trade finance. Incorporating artificial intelligence (AI) or machine learning and blockchain technologies and made compatible with the new Networked Trade Platform (NTP), CALISTATM is well positioned to help revolutionise the movement of goods and trade worldwide.
LOOKING INTO THE FUTURE
It would have been hard to predict CrimsonLogic’s growth potential in 1988. But 30 years on, CrimsonLogic continues to grow from strength to strength. With registered entities in 19 countries worldwide and award-winning solutions in three primary domains – Trade, Judiciary and Digital Government Services (Government-to-Business and Government-to-Citizen), CrimsonLogic is going through an exciting time now.
A plethora of opportunities, enabled by technology, couples with our strong focus on products and recent launches of new trade services to strengthen our growth trajectory. We are quietly confident about our future.
CONQUERING NEW GROUNDS THE CRIMSONLOGIC STORY
Building upon a strong foundation of understanding in how information can be shared in an environment with complex workflow, CrimsonLogic began to explore growth on two different dimensions. On one hand, we offered TradeNet as a solution to countries that were keen to adopt best-in-class tech solutions from Singapore. On the other, we proactively developed our suite of solutions to extend to areas beyond trade.
Over the years, CrimsonLogic has remained committed to driving transformation through delivering value for nations and businesses. One example is the digital platform in Rwanda – iREMBO – to facilitate all Government- to-Citizen and Government-to-Business transactions. Through digitising business registration, business license application, birth registration, passport applications and tax payments, processes that used to take multiple trips over three days can now be completed in a single