ZIMARK: REVOLUTIONISING THE LOGISTICS WORLD

ZIMARK: Revolutionizing the logistics world with flying colors

THROUGH ITS ADVANCED REMOTE SCANNING SOLUTIONS, THE COMPANY IS TAKING THE EFFICIENCY OF THE GLOBAL SUPPLY CHAIN TO NEW HEIGHTS.

During the peak of the pandemic, when travel restrictions and lockdowns were imposed all across the globe, the importance of remote automated methods for carrying out operations in the shipping and logistics sector became clearer than even before. During this period, various advanced digital solutions were born, one of them being ZIMARK.

Through the collaboration of ZIM, an ocean carrier known for its uncompromising maritime shipping and logistics solutions, and SODYO, a high-tech company known for its next-generation interactive scanning technology, ZIMARK was born. The joint venture aims to offer the logistics industry and the global supply chain the best of both worlds, using a groundbreaking patented scanning technology for connecting offline content to the online world. During her conversation with The Zone, ZIMARK’s CEO Karin Levy, highlighted the ways in which ZIMARK aims to transform the logistics sector worldwide.

What does ZIMARK bring to the world of logistics? ZIMARK has introduced an advanced and easyto-use scanning technology, in order to simplify the entire logistics and supply chain process, making it much more efficient and streamlined. ZIMARK’s small colorful markers are placed on assets for easily connecting offline content with the online world, using our CVP (Color Vertex Points) patented technology and advanced algorithms. ZIMARK solutions can facilitate smart inventory management and immensely improve the tools companies are currently using to streamline and transform the way logistics is being performed across the supply chain.

KARIN LEVY CEO, ZIMARK

What is ZIMARK’s promise to the global logistic market? Globalization and the recent impacts of the COVID-19 pandemic have generated unprecedented growth in the logistics, e-commerce, and supply chain sectors. As a result of this, customers expect improved, transparent, superior service, and speedy delivery.

Everyday logistical tasks such as locating assets, vehicles, containers and packages in warehouses and terminals, are done using traditional methods, which require close physical contact, and are done mostly manually. This requires a lot of time, resources, and is naturally susceptible to human error. With the help of ZIMARK’s innovative scanning solutions, all these tasks can be automated, therefore are a lot more simplified, efficient and streamlined.

What makes ZIMARK unique compared to other existing methods and technologies? The ability of our technology to scan assets from virtually any distance is quite exceptional. This is coupled with the ability to perform multi-asset scans, which allows simultaneous scans of as many markers as can fit in the frame. Moreover, since the marker content is stored on the back-end systems, it can be changed at any time, thus providing our customers with great flexibility.

The content can also be personalized as per the users’ needs. Different users can scan the same marker, and each will get their own tai-

smart inventory management

multi-asset scaning technology advanced digital Logistics solutions

lored content based on their authorizations. Moreover, ZIMARK solutions are designed to smoothly integrate with the customer’s management systems and operational processes, enabling the customer to have more control and better visibility.

It provides better inventory management capabilities by reinforcing the customer’s existing systems. Our customers will be able to receive real-time information about their inventory, resulting in more transparency, thus preventing inventory errors, leading to increased productivity and better customer service.

Is there market readiness for these type of solutions? In order to be able to provide fast, efficient, and high-quality services to their customers, logistics managers need to have full control and real time transparency over their inventories.

ZIMARK allows continuous, autonomous, and on-demand scanning from a distance using various types of camera devices such as, stationary cameras, handheld devices, drone mounted cameras down the road, etc. While a routine task like inventory count could take up to a week, with ZIMARK, multiple items can be scanned simultaneously from a distance, reducing the required time significantly.

When an asset gets lost it interferes with the routine work, results in loss of time and money, and reflects badly on customer service, with ZIMARK, assets are continuously being scanned, providing real-time stock tracing.

Another great advantage of using ZIMARK’s distant scanning is being able to easily locate an asset stored in big yards on demand. With our solutions, customers will be able to locate any marked asset efficiently and even get directions to the relevant location. In addition, with the help of our remote scanning, we are able to alert organizations that a hazardous asset was moved contrary to instructions. This can prevent dangerous situations and improve workplace safety.

What is your vision for the future of ZIMARK? Our vision is to empower logistic companies with advanced solutions, allowing them to improve their real-time inventory reliability, and increase their efficiency. By using our smart markers and visual analytics, we aim to bring the physical and digital worlds together. Every asset, container, truck, car, etc., gets to be part of a network, and their location and status can be communicated in real-time.

Moreover, through the introduction of AI-based tools and Big Data analysis, we will be able to help logistic providers make a huge leap into an all-new level of operational excellence. zimark.io Based on our conversations with logistics managers, we identified a true need for technology-driven innovations to assist them with issues that could not be resolved efficiently with the current solutions they have.

A definitive guide to cheque provisions

KNOW MORE ABOUT THE NEW AMENDMENTS CONCERNING CHEQUES THAT WILL HELP THE BANKING LAWS IN THE COUNTRY TO BE IN ALIGNMENT WITH THE GLOBAL BEST PRACTICES

Cheque as a fulfilment tool A cheque is defined as a commercial document that replaces and pays off money, as it is considered a tool of fulfilment. The bank is obligated to cash it, even if it is due on a deferred date. The parties to the cheque are the drawer, the drawee and the cheque writer. Crimes committed concerning cheque transactions are punishable under the UAE law.

Bounced Cheque Usually known as a cheque without balance, it is called a bounced cheque because the bank returns it to the beneficiary since there is not enough balance in the cheque writer’s account. One of the most important reasons for returning the cheque is the debtor’s inability to pay the value of the cheque due to insufficient funds on the agreed date.The new amendments to the Commercial Transactions Law No. (18) of 1993 were issued pursuant to Federal Decree-Law No. 14 of 2020 entered into force as of January 2, 2022. The decree law included 7 amended articles and 9 new articles for a total of 16 articles. The amendments seek to raise the international competitiveness indicators, solidify the principles of justice and equity and achieve a strong national economy and a judiciary based on efficiency and quality, in line with the UAE’s strategic vision.

Decriminalising bounced cheques The new amendments that decriminalise bounced cheques have been replaced by some civil measures. Criminalisation currently contained in the criminal law regarding cheques, especially issuing cheques and insufficient funds, has been cancelled, except for the cases mentioned in Decree-Law No. 14 of 2020. Criminalisation is now limited to four instances: 9 Fraud in issuing the cheque and account closure.

9 Fraud using cheques by giving an order to the bank not to cash the cheque illegally

“that is, in cases other than those stipulated in Articles 620 and 625, which is the case of the cheque being lost or bankruptcy.

9 Where there were sufficient funds but entirely withdrawn by the issuer before the due date or in case of frozen account.

9 Deliberately signing or writing cheques in a way that prevents them from being cashed.

Penalties as stated in the law 9 Imprisonment for a period of no less than six months and no more than two years. Plus, a fine of no less than (10 per cent) of the value of the cheque and a minimum amount of AED 5,000 and not more than double the value of the cheque for anyone who commits any of the above acts. The penalty shall be doubled in the event of repetition.

2-6 years imprisonment

with additional fines, for Fraud using cheques by giving an order to the bank not to cash the cheque illegally

Fine for forging a cheque or attributing it to others by changing the data

9 Imprisonment for a period of no less than one year, and a fine of no less than AED 20,000 and not more than AED 100,000 for anyone who commits any of the following acts:

a) Forging a cheque or attributing it to others by changing the data (deleting or adding). b) Using a forged cheque with prior knowledge. c) Receiving a payment made by forged cheque. d) Using a validly written cheque in the name of another, using it unlawfully, or using it to commit a fraud or crime.

a) Deliberately declaring that there is no suf ficient fund for the cheque or less than the cheque value. b) Refuse in bad faith to pay a drawn cheque. c) Refuse to place proof of non-payment on the cheque. d) Refuse to pay the cheque partially, issue a proof certificate or mark the cheque.

9 A fine of no less than (10 per cent) of the cheque’s value and a minimum of AED 5,000 and not more than double the value of the cheque shall be imposed on anyone who commits any of the following acts:

9 Withdrawing the cheque book from the convict with restriction of issuing new book (maximum period of five years).

9 Suspending the professional or commercial activity of the corporate/ person.

9 Imposing financially a fine on the corporate/ person, except for banks and financial institutions.

9 License suspension for a period of six months.

9 License cancellation, dissolution of the corporate person when the violation is repeated. 9 Providing simple alternatives to speed up the process of collecting the value of the cheque.

9 Partial payment of the cheque value is now mandatory. If the funds were less than the cheque value, the bank should pay the available part unless the beneficiary disagrees.

9 Article No. 635, repeated, of the Commercial

Transactions Law, promulgated in the decree of federal law No. 14 of 2020 gave the cheque the power of enforcement deed. The cheque is considered as an enforcement deed that allows the beneficiary to directly contact the judge to order payment of the cheque value or remaining part without the need to file any case or take any further legal action.

9 Preventing criminal action and facilitating the procedures in the event of entirety or partial payment of the cheque value before commencing forced execution or issuing a definitive judgment.

AED 20,000 - AED 100,000

Other amendments included in the provision are as follows:

A cheque is defined as a commercial document that replaces and pays off money, as it is considered a tool of fulfilment. The bank is obligated to cash it, even if it is due on a deferred date.