Latest news with #BillsofLading
Yahoo
11-06-2025
- Business
- Yahoo
PITT OHIO and Vaital Revolutionize Freight Operations with Artificial Intelligence
Introducing N@TE: No-Touch Email—Transforming Logistics with Agentic AI. BELLEVUE, Wash., June 11, 2025 /PRNewswire/ -- Vaital, a leader in AI-driven strategy and engineering, today announces the launch of N@TE, a patent-pending No-Touch Email system designed to revolutionize order management in freight. Purpose-built for TL and LTL carriers, N@TE automates email-based order intake with unprecedented speed and accuracy—transforming efficiency for trucking companies. Customer service teams often spend hours processing inbound Bills of Lading (BOL) to create a pickup order. Multiply the problem by thousands of emails per day and it's a mountain of manual work. Now that process is performed in seconds. N@TE eliminates manual order processing while boosting customer satisfaction with near-instant response times – integrating with existing transportation management systems (TMS) and workflows. Proven Results with a Top 15 U.S. Trucking Carrier PITT OHIO, a leading U.S. carrier operating a fleet of 1,000 trucks, partnered with Vaital to create N@TE—achieving remarkable operational gains, including: 30-60X efficiency boost in email order processing times. 99%+ accuracy in order extraction and fulfillment. 70% reduction in costs for pickup order handling. Built on Microsoft Azure, N@TE leverages enterprise-grade cloud infrastructure to deliver scalability, security, and high-performance AI processing—empowering carriers with automation at scale. A New Era for Freight Unlike traditional automation tools, N@TE offers a familiar experience for customers: No workflow changes – Orders continue via email as usual Interoperability – Works directly with existing TMS and systems Enterprise scalability – Designed for high-volume carrier operations "AI is transforming industry. Implementing N@TE has transformed the way we manage customer orders. The AI-driven automation has significantly reduced processing time, improved accuracy, and allowed us to better serve our customers with near-instant response times. By integrating with our existing workflows and running on Microsoft Azure, N@TE empowers our team to focus on strategic initiatives rather than manual order entry. It's a true game-changer for logistics efficiency." — Scott Sullivan, EVP and CIO, PITT OHIO N@TE goes beyond AI automation—it's competitive edge for logistics leaders," stated David Yunger, CEO of Vaital. "We are honored to collaborate with PITT OHIO, a pioneering force in the industry, to help carriers accelerate growth, cut costs, and achieve unparalleled customer satisfaction. By being early adopters of this cutting-edge AI technology, PITT OHIO is setting a precedent in the LTL space. Their commitment to innovation is paving the way for unprecedented advancements, and we look forward to witnessing their continued leadership." Join the Future of Freight Vaital invites TL and LTL leaders to experience the transformative power of N@TE. To learn more and schedule a demo, visit or contact pr@ About Vaital Vaital is an AI strategy and engineering firm empowering leaders to take control of their AI journey. Vaital delivers AI solutions for organizations to drive competitive advantage, profitability, and velocity. Learn more at ABOUT PITT OHIO PITT OHIO has been providing the best value in transportation and logistics solutions to our customers for over 45 years, reaching over $900 million in revenue last year. Headquartered in Pittsburgh, PA, PITT OHIO services the Mid-Atlantic, Midwest, and Northeast regions. In addition to their legacy LTL freight solution, PITT OHIO provides supply chain and logistics solutions including expedite, freeze protection, truckload, warehouse and distribution, container transloading, dedicated fleet management and more. To make this happen, and to fulfill PITT OHIO's Purpose, they employ over 3,400 employees who are committed to doing the right thing every day. Explore their website to see how PITT OHIO is dedicated to the safe and sustainable motor transport of products, doing right by their employees and their customers, and making a positive impact on the environment. To contact PITT OHIO, schedule service, or apply for employment, please visit their website at View original content to download multimedia: SOURCE Vaital
New Indian Express
02-05-2025
- New Indian Express
67-year-old Singapore citizen arrested in Rs 10 crore international timber fraud in Delhi
NEW DELHI: A 67-year-old Singapore citizen, Mukesh Gupta, was arrested in connection with a Rs 10 crore international fraud involving the supply of timber from New Zealand to India, police said on Wednesday. Gupta, an OCI (Overseas Citizen of India) cardholder, was accused of duping M/s Chaudhary Timber Industries Pvt. Ltd. (CTIPL). The case was registered in July 2022 following CTIPL's complaint, which stated that Gupta, representing M/s Amrose Singapore Pte. Ltd., had entered into an agreement to supply timber. However, forged Bills of Lading and fake shipping documents were submitted to the bank, leading to the release of Rs 10 crore, despite no shipment taking place. According to Additional CP (EOW) Amrutha Guguloth, investigations confirmed the BLs were fake through verification with the ship owner, agent, and insurer. Gupta had evaded questioning citing medical issues but was finally arrested on April 22. He was found to have fabricated documents and misused company names and seals to fraudulently secure payments against Letters of Credit.
The Print
01-05-2025
- Business
- The Print
Singapore based Indian held in Rs 10 crore international trade scam
According to the complaint, the firm had entered into an agreement with Gupta's company for timber imports from New Zealand and made payments through Letters of Credit (LC). However, the shipment never arrived, police said in a statement. The accused, Mukesh Gupta, Managing Director of a private limited company was arrested on April 22 following a complaint filed by a Delhi-based firm for defrauding them in a timber import deal. New Delhi, May 1 (PTI) The Economic Offences Wing (EOW) of the Delhi Police has arrested a 67-year-old Singapore citizen for his alleged involvement in the case of Rs 10 crore international trade fraud involving forged shipping documents, an official said Thursday. Investigations revealed that Gupta submitted forged Bills of Lading (BLs) and fabricated shipping documents to a bank in Singapore which forwarded them to the bank located in Connaught Place. Acting on these fraudulent papers, the bank released around Rs 10 crore, despite no cargo being shipped, the statement read. Teams verified the documents with shipment agencies, all of whom denied any such shipment. The ship named in the documents had not carried any such consignment to India, confirming the BLs were completely fictitious, it said. The fake documents were seized from the bank's branch and formed a crucial part of the evidence. Gupta had repeatedly evaded investigation by citing health issues, but he joined the probe and was taken into custody, read the statement. Following his arrest, Gupta was remanded to one day of police custody on April 29. During interrogation, he provided vague and misleading responses and was subsequently remanded to judicial custody until May 14. He was confronted by representatives from the shipping firm, who confirmed that their company's name and seal had been used fraudulently. The accused's modus operandi involved forging BLs, invoices, and insurance documents using the names of legitimate international entities to obtain illicit funds against LCs, without delivering any goods. The EOW has officially notified the High Commission of Singapore in Delhi about his arrest as per diplomatic protocol. Further investigation into the case is ongoing, the statement added. PTI BM BM HIG HIG This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Hindustan Times
01-05-2025
- Business
- Hindustan Times
Singapore based Indian held in ₹10 crore international trade scam
New Delhi, The Economic Offences Wing of the Delhi Police has arrested a 67-year-old Singapore citizen for his alleged involvement in the case of ₹10 crore international trade fraud involving forged shipping documents, an official said Thursday. The accused, Mukesh Gupta, Managing Director of a private limited company was arrested on April 22 following a complaint filed by a Delhi-based firm for defrauding them in a timber import deal. According to the complaint, the firm had entered into an agreement with Gupta's company for timber imports from New Zealand and made payments through Letters of Credit . However, the shipment never arrived, police said in a statement. Investigations revealed that Gupta submitted forged Bills of Lading and fabricated shipping documents to a bank in Singapore which forwarded them to the bank located in Connaught Place. Acting on these fraudulent papers, the bank released around ₹10 crore, despite no cargo being shipped, the statement read. Teams verified the documents with shipment agencies, all of whom denied any such shipment. The ship named in the documents had not carried any such consignment to India, confirming the BLs were completely fictitious, it said. The fake documents were seized from the bank's branch and formed a crucial part of the evidence. Gupta had repeatedly evaded investigation by citing health issues, but he joined the probe and was taken into custody, read the statement. Following his arrest, Gupta was remanded to one day of police custody on April 29. During interrogation, he provided vague and misleading responses and was subsequently remanded to judicial custody until May 14. He was confronted by representatives from the shipping firm, who confirmed that their company's name and seal had been used fraudulently. The accused's modus operandi involved forging BLs, invoices, and insurance documents using the names of legitimate international entities to obtain illicit funds against LCs, without delivering any goods. The EOW has officially notified the High Commission of Singapore in Delhi about his arrest as per diplomatic protocol. Further investigation into the case is ongoing, the statement added.
Yahoo
23-04-2025
- Business
- Yahoo
Improving Financing Flow: CZ Cuts Trade Financing Processing Time with Mizrahi Tefahot Bank in the UK by 95% with WaveBL Digital Documentation
WILMINGTON, Del., April 23, 2025 /PRNewswire/ -- The OpportunityAs a leading supply chain services company operating in the UK, CZ, sought to streamline its trade finance operations and reduce the time-intensive processes associated with paper-based trade documentation. Traditional trade processes often involve multiple parties, high administrative costs, and lengthy timelines. This creates friction in global trade, particularly for fast-moving commodities like sugar. The growing adoption of digital trade solutions, such as electronic Bills of Lading (eBLs), allowed CZ to embrace fully digital trade documentation, enabling faster financing, reduced costs, and greater operational efficiency. The Solution CZ successfully executed its first fully digital trade financing transaction using WaveBL. This milestone transaction showcased the power of end-to-end digital trade processes: Issuance of eBL: The Mediterranean Shipping Company (MSC) issued an electronic Bill of Lading (eBL) on WaveBL and transmitted it to CZ. Compilation of Supporting Documents: CZ added electronic versions of the necessary trade documents, such as invoices and letter of instructions to the bank, to the WaveBL platform. Document Submission to the Bank: CZ sent the eBL and supporting documents to Mizrahi Tefahot Bank LTD, UK via WaveBL for review and processing. Financing Approval: The bank validated the documents against compliance requirements and promptly provided financing to CZ. Document Transfer to Importer: The bank forwarded the complete set of electronic documents to the importer in Israel, ensuring a seamless and efficient transaction. This streamlined process eliminated the need for physical documentation, saving significant time and reducing administrative burden for all parties involved. By now, CZ, fully transformed the flow and completed dozens of transactions. The Impact CZ experienced transformative benefits from this digital-first approach: Faster Financing: Traditional transactions take several days to get to the bank, and take 15–25 days until reaching the importer. This is now completed in hours, enabling quicker access to working capital. Enhanced Security: Documents were transmitted securely via WaveBL's blockchain-backed platform, mitigating risks associated with physical document loss or forgery. Cost Savings: The elimination of paper documentation reduced courier costs, printing expenses, and administrative overhead. Seamless Collaboration: WaveBL's platform provided a unified space for collaboration between CZ, its financial institution, and MSC, ensuring all parties remained synchronized throughout the process. "This digitised way of working represents a turning point in how we approach trade finance. By adopting WaveBL's digital platform, we've cut processing time from weeks to hours while ensuring security and transparency at every stage. This success sets a strong foundation for leveraging digital trade documentation in future operations."— Tanya Epshteyn, Associate Director, Head of Structured and Trade Finance, CZ CZ's journey showcases how fully digital trade documentation can revolutionize the way businesses manage international trade. By leveraging WaveBL, CZ demonstrated the power of faster financing, reduced costs, and secure collaboration. This success sets a benchmark for companies across industries, proving that embracing digital trade solutions is essential for staying agile, efficient, and competitive in today's global market. The bank, Mizrahi Tefahot Ltd in the UK, by using the WaveBL platform, allows its customers access for a very efficient and friendly way to manage their trade documentation, increasing their satisfaction from the services they receive. "The type of deals that CZ manage with their bank showcase that electronic trade is not limited to Letters of Credit and Collection but is everywhere in the Global Trade Finance arena." says Ofer Ein Bar, VP Financial Institutions at WaveBL. "The use case of using electronic documents to shorten the preliminary processes to financing, and at the same time reduce costs with a friendly and efficient user experience is a game changer for Global Trade. It will help to resolve the huge gap of financing so needed to support the growth of global trade." Photo - For inquiries: Ofer Ein View original content: Sign in to access your portfolio
