Eurora partners SkyNet for cross-border trade compliance automation

The collaboration is set to allow SkyNet to provide ecommerce retailers with an improved solution for customs and import regulations, aiming to simplify cross-border trade and make it more efficient.

Cross-border trade and how the partnership falls into place

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, planning a future global expansion across all 26 territories where it operates.

The IOSS service helps automate VAT registration and reporting when having goods shipped to the EU, while Eurora’s AI engine helps streamline HS code allocation, with the HS Code being a ‘Code of the Harmonized Commodity Description and Coding System’, which is a six-digit number in the international product nomenclature developed by the World Customs Organization (WCO). With more than 5,000 HS codes, accurate allocation is believed to be essential in avoiding incorrect duties and taxes, together with potential fines from authorities.

As SkyNet provides services to B2B and B2C customers by leveraging smart technology, the company believes the Eurora partnership to be a ‘natural fit’, as it enables their clients to simplify complex customs and import regulations by utilising AI and machine learning (ML), helping unlock growth opportunities for ecommerce retailers throughout the globe.

Eurora officials stated that its AI/ML platform offers a high level of accuracy, speed, and automation and by having their solutions combined with SkyNet’s global network, the company is not only bringing forth value for retailers but also simplifying the process of having goods imported in the UK and the EU.

Eurora’s developments throughout 2022

As detailed in the company’s press release, in recent months, Eurora opened a UK-based central office in London, as well as a US-based one in Miami.

The SkyNet collaboration closely follows the partnership announcement with global parcel delivery network DPDgroup, made public in October 2022, following which the company was set to automate cross-border compliance, as well as the one with mobile ecommerce marketplace Wish in December 2022.