Global supply chain intelligence leader announces the launch of Trademo Compliance to help businesses meet global trade compliance norms more efficiently
Trademo, a global supply chain intelligence company, announced the launch of Trademo Compliance, its latest platform to help businesses participating in global supply chains meet import-export compliance norms, classify HS/HTS codes, determine accurate landed cost and manage cross-border taxes.
The current state of global trade compliance is complex, owing to the ever-increasing geopolitical uncertainties and supply chain disturbances on the global level. This is making it harder for the businesses to meet trade norms. With the singular aim of simplifying global trade compliance, Trademo Compliance ensures businesses can meet all cross-border trade regulations much more efficiently. The solution regularly collects and normalizes global trade compliance data from government and federal authorities to provide the most updated, verified, and authentic content for its users in all major markets like the US, Canada, Mexico, UK, and EU.
The key offerings of Trademo Compliance include:
- Import and Export Compliance for all HS Codes: Businesses can receive complete duty and tax compliance information for product catalogs including country-specific customs regulations and detailed licenses/permits insights for HS codes.
- Landed Cost Calculator: Businesses can calculate duties for imports leveraging the extensive and latest information on tariffs like VAT, FTA, GST, etc. along with any other hidden charges like CESS, merchandise processing fees, etc.
- HS/HTS Code Classification: Trademo Compliance enables enhanced HS code classification for products by facilitating advanced search through its exhaustive database of more than 2 billion bills of lading, 500,000+ customs rulings, and country-specific product/HS nomenclature.
With Trademo Compliance, businesses can achieve effective compliance management with regular global compliance updates on changes in customs regulations, taxes/duties, HS codes, FTA rates, and much more. They can avoid penalties and fines by ensuring proper compliance with the trade regulations of specific countries. Businesses can also minimize compliance costs by gaining better visibility on country-specific FTAs and regulations and avoid unnecessary duties and taxes accordingly.
Trademo Compliance is set to empower importers, exporters, logistic companies, consulting firms and customs brokers with accurate global trade compliance content to perform informed decision making through best trade practices with minimal efforts.
“Trademo compliance is being introduced to the market at just the right time considering supply chain disruptions, geopolitical risks and trade wars on the rise, complicating compliance requirements with rapidly changing duties, tariffs, etc.,” said Shalabh Singhal, Founder and CEO, Trademo. “While nearly 76% of companies rely on manual study and assessment of trade regulations, the traditional methods of trade compliance are becoming impractical in today’s time. Front-line technologies like AI are shaping a new future of trade compliance management. This is where Trademo Compliance becomes the game changer for the global supply chain community.”