Trade Classifier: Enhance your trade operations by automating the classification process
Global trade advisory
A digital solution that alleviates the challenging and time-consuming classification work that many global trade functions struggle with today.
Now, more than ever, trade compliance has a seat at the executive table. Companies are revisiting their trade compliance strategies in order to:
- Comply with complex trade regulations
- Stay up to date on an ever-changing trade environment
- And minimize the risk of errors that can lead to penalties, under payments of duty and other negative exposures, as well as the needless overpayment of duty
That means increased pressure on importers and trade compliance departments to:
- Accurately classify products
- In a rapidly changing environment with resource and budget constraints along with a continuous flow of new products to classify
- These pressures mean that resources have little time left for strategic planning and initiatives
In an era of such increasing demand on global trade compliance resources—now is the time for a new approach to trade compliance with leading-edge technologies and consistent methodologies that can decrease the need for manual effort and the risk of human error, while increasing accuracy and consistency.
Here’s how we can help
A global, automated classification solution, Trade Classifier is a leading multijurisdictional tool supported by our global trade specialists, offering:
- A globally integrated, multi-faceted team experienced in multijurisdictional trade classification.
- Leading edge technology solutions.
- Tried and tested, effective-practice processes and tools.
Trade classifier can be used directly by the Client under a Software as a Service (SaaS) model. It can also be coupled with classification support services from Deloitte’s Global Delivery Center classification specialists, which typically provides a more cost-effective classification solution. This includes standard quality review process, global network of trained classification specialists, and around the clock support.
The Deloitte difference
How it works
Benefits of automated classification
|• Gives you control of your classiﬁcation process
• Provides insights on your classiﬁcation master data quality
• Helps shift focus from operational to strategical decision-making
|• Transition from human thought process prone to error and inconsistencies to automated trained machine that acts consistently every time|
|Accuracy and quality
|• Multiple point control process to provide high degree of classiﬁcation accuracy
• Inconsistency and anomaly detection in historical and new manually performed classiﬁcation
|• Stores results of manual decisions into the core of the system
• Continuous learning cycle by leveraging manual eﬀorts and enhancing system learning
|Tailored||Metrics and analytics
|• Can cope with your speciﬁc master data structures and is language independent
• Classiﬁcation for multiple jurisdictions
|• Contains dashboards for easy monitoring of performance and reporting to management
• Allows identiﬁcation of gaps and areas of risk
For more information, contact:
Deloitte Global Leader | Trade Advisory
Senior Associate | Indirect Tax
Director | Indirect Tax
Tax Senior Manager | Indirect Tax