TRADEclassifier
A cloud solution to fully automate your classification process, transform your workflow and get valuable insights into the quality of classification data.
The challenge
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. Classification errors can lead to fines and penalties, over or underpayment of duties, missed opportunities, risks in preferential origin calculation and operational inefficiencies. Companies are facing multiple challenges in the classification process such as resource constraints, high turnover of products, human errors, inconsistencies in the existing classification codes.
To help organizations overcome these challenges, Deloitte has built TRADEclassifier, a cloud solution that utilizes Machine Learning for autonomous decision making through supervised processing, learning, and acting. TRADEclassifiers’ algorithms see the patterns within the data and learn how certain classification is reached. The solution is available as a stand alone tool (SaaS contract) or as a hybrid delivery model (outsourced classification by Deloitte).
Benefits
Features
TRADEclassifier is a cloud solution to transform your trade classification process, making it faster and more accurate leveraging automation and machine learning technologies.
- Generates classification recommendations
- Automation with accuracy and classification confidence
- Captures a full classification audit trail and stores the results
- Contains operational and performance dashboards
- Uses client specific master data, vocabulary, product descriptions
- Allows identification of gaps and areas of risk
- Live AI based learning
- Detects classification errors and suggests corrective actions
How it works
Smart workflow
Augments and facilitates human expert classification review and confirmation
AI Classification Engine
Makes classification recommendations by confidence level based on AI training
Optimized classification process
Defines “Low/medium confidence” data, “High confidence” data and next steps
Data Enrichment
Can leverage optional Robotics Process Automation to automate data gathering to support classification
Data Quality
Performs post-processing activities, like accuracy review, automated upload and impact assessments
