EURORA PARTNERS WITH DPDGROUP TO AUTOMATE CROSS-BORDER TRADE COMPLIANCE
TALLINN, Estonia, Oct 25 (Bernama-GLOBE NEWSWIRE) -- Eurora Solutions, the provider of a leading AI/ML (artificial intelligence/machine learning) backed cross-border trade compliance platform, launches a partnership with DPDgroup, one of the world’s leading parcel delivery network.
This partnership will enable DPDgroup, which delivers 2.1 billion parcels yearly, to enhance its quality and compliance processes whilst lowering the costs of customs processing.
DPDgroup will use Eurora’s AI/ML-backed platform to automate the allocation of product classification (HS) codes and compliance with the export control rules applied in the European Union, the United Kingdom, and the United States. The allocation of product classification (HS) codes and export control classification (ECCN code) is a pivotal step within the export process, as these classifications are needed to prove all restrictions and license requirements have been duly checked by the shipper before exporting an item.
Eurora’s compliance platform processes up to 5,000 requests per second with 98% accuracy* - the highest level of accuracy, speed, and automation available in the market. As there are more than 15,000 10-digit commodity codes in the EU alone, it is impossible to match this speed and cost with manual or hybrid methods, most used today.
As a next step, both companies are looking towards extending the geographical coverage of export compliance services, namely to the Middle East and Asia.
“Eurora and the DPDgroup have been closely working together since the beginning of 2022 to elaborate the rules of different jurisdictions, containing a wide range of classification rules and restrictions that have been ´learned´ by the Eurora machine,” said Marko Lastik, founder and Group CEO of Eurora.
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