MIAMI, October 24, 2022: Eurora Solutions, the provider of a leading AI/ML (artificial intelligence/machine learning) backed cross-border trade compliance platform, today launched a partnership with DPDgroup, one of the world’s leading package delivery networks.
This partnership will enable DPDgroup, which delivers 2.1 billion packages yearly, to enhance its quality and compliance processes while lowering 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 US, UK and European Union. The allocation of product classification (HS) codes and export control classification (ECCN code) is a pivotal step within the export process, as they 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 on the market. Because of the sheer volume of 10-digit commodity codes, it is impossible to match this speed and cost with manual or hybrid methods, most used today.
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.
DPDgroup, delivering over 8.4 million parcels worldwide daily, was looking for a solution that would enhance its delivery operations. "In a context where product safety and transport security processes are key, and with growing international activity, we always aim to enhance quality and compliance. Using AI and Machine Learning solutions will help us improve the scalability and reliability of our international operations, while paving the path for future opportunities like new customers services, new geography, and further automation,” said Olivier Tsalpatouros, Senior Director Regulatory & Global Trade Affairs at DPDgroup.
Eurora's AI uses over 500 million records of training data from real transactions of the world's largest logistics service providers. The platform can be used by online sellers, marketplaces, logistics and postal companies to automate tax and duty declarations and assign the appropriate HS code.
*Level observed on Eurora’s overall compliance platform solutions in 2022.
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About GeoPost/DPDgroup
DPDgroup is one of the world leading parcel delivery networks, aiming to be a reference in sustainable delivery and become a leading enabler of e-commerce acceleration. We combine innovative technology and local knowledge to provide a flexible and user-friendly service for both shippers and shoppers.
With 120,000 delivery experts operating in nearly 50 countries, and a network of 70,000 Pickup points, DPDgroup delivers 8.4 million parcels worldwide each day – 2.1 billion parcels per year – through the brands DPD, Chronopost, SEUR, BRT and Jadlog. DPDgroup is the parcel delivery network of GeoPost. GeoPost posted sales of €14.7 billion in 2021. GeoPost is a holding company owned by La Poste Groupe.
About Eurora Solutions
Eurora uses artificial intelligence and machine learning to automatically manage cross-border VAT, duty amounts, and declarations. More than 250 clients already use the company's platform to send millions of parcels every day.
Eurora was founded in 2018 by Marko Lastik, a global logistics expert with over 30 years of experience. The company has developed its proprietary AI/ML platform with scientists and grants from European Union Archimedes Fund since 2019. Eurora employs over 165 people in 18 countries.
https://eurora.com/blog/eurora-partners-with-dpdgroup-to-automate-cross-border-trade-compliance
