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Managing the Unmanageable
Deloitte’s TRADEclassifier helps companies to take control of their classification process and get valuable insights into the quality of the classification master data. By leveraging Machine Learning techniques, the TRADEclassifier provides continuous support to this labor-intensive process. TRADEclassifier enables the traditional resource intensive classification process to become streamlined, allowing the organisation’s resources to shift day-to-day activities from operational to strategic.
Trade Compliance & Classification
Classification is a crucial pillar of Trade Compliance
In today’s political environment where global trade regulations change at an incredibly fast pace, organizations are reconsidering their trade compliance strategy and looking for ways to optimize processes, minimize manual efforts, and focus resources on driving strategic value.
Classification is an important part of trade strategy as it defines amongst other, tariff and non-tariff measures and the duty rate applicable. Consequently, classification errors can lead to:
- Fines and penalties
- Over or underpayment of duties
- Missed opportunities/ risks in preferential origin calculation
- Operational inefficiencies
However, companies are facing multiple challenges in the classification process such as:
- Resource constraints or a limited number of experienced resources
- High volumes or a high turnover of products
- Only a manual classification process prone to human error exists
- Inconsistencies in the existing classification codes
To help organisations overcome these challenges, Deloitte has built TRADEclassifier, a cloud solution that utilises Machine Learning for autonomous decision making through supervised processing, learning, and acting.
Artificial Intelligence & Machine Learning
Starting from the clients master data and classified materials, TRADEclassifiers’ algorithms sees the patterns within the data and learns how certain classification is reached. This training process is supervised by classification experts ensuring consistent and reliable outputs are produced.
Deloitte TRADEclassifier – Managing the Unmanageable
Thanks to the AI and automation the TRADEclassifier brings, our experts can focus on the optimization and quality of our classifications rather than the repetitive and time-consuming process of just having a classification stored for each product.
Customs Director, apparel industry
Artificial Intelligence – the missing link for classification automation
By using Artificial Intelligence, TRADEclassifier:
- Detects anomalies in product classifications within a single source, multiple sources or across jurisdictions
- Improves the understanding and decision making within the classification process through analytics
- Is able to see patterns in increasingly complex sources to determine the classification or suggest the most plausible suggestion
- Removes humans from repetitive activities and enable organisations to shift from operational to strategic decision making
- Accelerates the classification process by presenting most plausible suggestions or even taking autonomous decisions
- Ensures consistent, high quality product classifications that is up to date to the latest legislations
- The TRADEclassifier is a cloud based solution, equipped with the latest classification content to ensure a sustainable global deployable solution.
- It is developed utilising Deloitte’s Trustworthy AI framework to minimize bias, provide explain ability and audit trails, and ensure safe usage of AI solutions.
- It utilises workflow management capabilities to manage the resource workload during the training phase.
- It contains dashboards for easy monitoring of performance and reporting to management, and allows the identification of gaps and areas of risk.
Organizations that are ready to evolve beyond a simple rule-based systems should look at what their automations are doing, and even more importantly, are not doing—i.e., where does intelligent automation pass the process to a human, and what does the human need to do at that stage?