DESMAT: Trade flow control framework has been saved
DESMAT: Trade flow control framework
DESMAT in control
DESMAT is a software driven methodology that maps process flows at a client in connection with the physical movement of goods and match those to customs declaration records to identify possible errors or exceptions. The software generates reports, including exception reports, for management to then investigate further and resolve.
Rapidly advancing technologies and growing capabilities on the part of tax authorities has resulted in increased compliance burden. Organisations are searching for means to reduce the cost of compliance and increase visibility across customs functions.
DESMAT is cloud-based software that validates your specific business processes against trade data collected from various sources to efficiently analyse transaction level data against trade flows.
Compliance workflow and document retention
Compare your unique business processes to transactional data by connecting to your financial, service provider and operational systems. Track process workflows and internal controls and archive trade related documents for each transaction.
Deferment account management
Manage your own customs deferment facility. Utilising a clearing agent or broker deferment account can result in substantial finance fees and extended payment terms. DESMAT allows you to manage your own deferment accounts and greatly increase visibility of payments and statements which can lead to significant savings.
Customs data monitoring
Characterise your trade data using searchable summaries of customs declaration data. The tool allows for categorisation of data across internal divisions and departments. The information is updated monthly.
Drawbacks and refunds
Expedite the refund process and track payment timelines. DESMAT facilitates the administration and tracking of refund procedures and payments to ensure that compliance processes are followed and supporting information is electronically archived.
Parts and components temporarily admitted for the purposes of inward processing such as, repairs or those used as replacement parts are subject to strict compliance processes. Rebate users are required to demonstrate that imported materials have been used in processing and manufacturing processes and to retain proof of these activities. The DESMAT platform manages compliance requirements, registers and permits to ensure that these goods have been appropriately declared and endorsed on export.
Create and track valid broker instructions. Even if you’ve outsourced some of your operations to agents or logistics companies, you are ultimately responsible for the content of declarations that are submitted to the authorities on your behalf. It is critical that broker instructions are accurate, complete and compliant. DESMAT assists organisations that move goods across borders or import into warehouses for storage, repair or manufacturing to create and automatically validate broker instructions using predefined templates.