Digitalisation brings full transparency and maximises efficiencies for terminals
VERIDAPT’s digital solution unlocks a multitude of real-time benefits for terminal operators, making full transparency in inventory management and transaction flows the new normal.
VERIDAPT recognises that manual record-keeping and stale inventory data must give way to digital twin technology that addresses the stricter requirements being placed on terminals for compliance and visibility to reduce risk, facilitate financing and streamline overall operations.
Digitising terminal management transforms the role of a traditional storage facility into a smart partner in the trade ecosystem, using real-time data to unlock value for the terminal and its customers. All this is achieved through a single solution, integrated with different departments across the business and with authorised customers to streamline and optimise terminal management.
Platform
Benefits
Highly accurate reconciliation data and reduced reliance on manual inspections, leading to improved operational efficiencies
Independent, third-party IoT expertise allowing for 24/7 visibility of inventory with the option to provide data access to authorised customers & financiers, improving security tracking and enabling customer financing
Digitised nomination process with data entry by customer on one single platform, ensuring efficient communication process, generating an audit trail
Order entries by traders can be easily scheduled and planned in customer portal eg. assigned jetties, trucking bays, rail lines, etc.
Automatic, independent validation of order quantities using data versus physical inspection by surveyors
Improves operational risk and security through authorised customer access and alerts & alarms
Our Technology
VERIDAPT’s digital solution unlocks a multitude of real-time benefits for terminal operators, making full transparency in inventory management and transaction flows the new normal.
VERIDAPT recognises that manual record-keeping and stale inventory data must give way to digital twin technology that addresses the stricter requirements being placed on terminals for compliance and visibility to reduce risk, facilitate financing and streamline overall operations.
Digitising terminal management transforms the role of a traditional storage facility into a smart partner in the trade ecosystem, using real-time data to unlock value for the terminal and its customers. All this is achieved through a single solution, integrated with different departments across the business and with authorised customers to streamline and optimise terminal management.
Implementation within 48 hours
VERIDAPT service is enabled by the installation of our hardware device IoT Hub in the terminal’s control room. VERIDAPT will provide the hardware and can be responsible for the installation. A typical installation in a facility is done in 2-3 hours with no operational impact.
Terminal Digitisation
Benefits Traders and Banks
"Owing to the enhanced visibility and coupling of data, we should be able to piece any kind of reconciliation reporting seamlessly so that all reporting is streamlined. Movements within terminals should be compared and matched to actual nominations to ensure minimal discrepancies and manual work as now.”
Trafigura
“With greater transparency and security, market participants will be able to gain better access to finance – possibly with more favourable terms.”
ASEAN
“Moving into a digitalised world not only provides transparency and confidence to banks, it allows our clients to have an efficient way of seeking credit financing through a digital world.”
JPUT
VERIDAPT’s Secure
Central Web Application
VERIDAPT's secure central web application, AdaptIQ, provides real-time tank monitoring and detailed movement transaction data, providing regular reconciliation.
“Operationally we believe that a terminal should be able to provide real-time data (or close to) so that all stakeholders have complete visibility on their inventories.”
Regional Head of Operations
Major World Trader
