Why trade has evolved beyond merely transporting goods

Global trade involves more than just transporting goods; it encompasses three interconnected flows: goods, data, and finance. Ryan Peterson, CEO of Flexport, emphasizes that while logistics focuses on the movement of cargo, the accompanying data—like invoices and customs filings—often remains disorganized, leading to delays even if shipments are on time. Additionally, accurate financial management is crucial for calculating duties and tariffs. Peterson argues that synchronizing these three flows in real time is essential for efficient trade, as errors in one area can disrupt the others, making visibility and accuracy vital in today's compliance-heavy environment.