Eurora is an artificial intelligence and machine learning cross-border trade compliance platform that automatically manages cross-border VAT, duty amounts, and declarations. The company has partnered with Joom Logistics in order to provide it with advanced technology designed to simplify customs clearance and enhance cross-border trade efficiency.
According to the official press release, Joom delivers more than 5 million parcels per month and works with various clients, including merchants selling on cross-border marketplaces, and ecommerce websites based on platforms such as Shopify and Shoplazza.
Joom Logistics representatives shared some details about this partnership and highlighted how it can help solve one of the key issues of cross-border delivery: customs clearance. For their clients from Japan, Hong Kong, Mainland China, South Korea, and other regions, the partnership with Eurora will help smooth out the process and deliver an experience similar to domestic shipping.
Specifically, Joom’s partnership with Eurora will speed up the identification of find HS codes faster while minimising operational costs and improving the platform’s overall logistics performance. The same representatives detailed that allocating the correct HS codes for cross-border shipments can be a challenge, particularly when it comes to companies selling a large variety of products.
Incorrect allocations can result in fines and delays, which can deter merchants from expanding their business internationally. AI and ML-based systems from Eurora can help automate the HS code allocation thus ensuring accurate and efficient cross-border trade compliance.
According to the company press release, Eurora’s proprietary AI/ML platform offers a processing capacity of up to 5,000 requests per second with 98% accuracy. The platform entered development in 2019 when it received a research grant from the European Archimedes Fund. The company has more than 220 employees in 18 countries, and its primary goal is to make sure that its clients can benefit from seamless cross-border trade compliance.
In February 2023, Eurora partnered with courier company SkyNet Worldwide Express to automate cross-border compliance and support ecommerce retailers in their international expansion efforts. The collaboration is set to allow SkyNet to provide ecommerce retailers with an improved solution for customs and import regulations with the goal of simplifying cross-border trade.
In the initial point of the rollout, SkyNet is set to provide Eurora’s automated product classification HS code allocation and Import One Stop Shop (IOSS) solutions in the UK. A future global expansion across all 26 territories where it operates is in the works.
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