TALLINN, Estonia, Oct. 25, 2022 (GLOBE NEWSWIRE) — Eurora Solutions, provider of a leading AI/AA (Artificial Intelligence/Machine Learning) platform supported by the Cross-Border Trade Compliance Platform, is launching a partnership with DPDgroup, one of the world’s leading parcel delivery networks.
This partnership will enable DPDgroup, which delivers 2.1 billion parcels each year, to improve its quality and compliance processes while reducing customs processing costs.
DPDgroup will use Eurora’s AI/AA-supported platform to automate the assignment of product classification codes (HS for Harmonized System) and compliance with export control rules applied in the European Union, UK UK and USA. Assigning product classification (HS) codes and export control classification (ECCN code) is an essential step in the export process. Indeed, these classifications are necessary to prove that all restrictions and licensing 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. Given that there are over 15,000 10-digit raw material codes for the EU alone, it is impossible to match this speed and cost with manual or hybrid methods, which are the most widely used today. today.
As a next step, the two companies will seek to expand the geographical coverage of export compliance services, namely in the Middle East and Asia.
“Eurora and DPDgroup have been working closely since the beginning of 2022 to develop the rules for different jurisdictions, containing a wide range of classification rules and restrictions that have been ‘learned’ by the Eurora machine,” Marko said. Lastik, founder and CEO of Eurora Group.
DPDgroup, which delivers more than 8.4 million parcels every day worldwide, was looking for a solution that would improve its parcel delivery operations. “In an environment where product and transport safety processes are essential, and with growing international activity, we are constantly seeking to improve quality and compliance. The use of AI and machine learning solutions will help us improve the scalability and reliability of our international operations, while paving the way for future opportunities such as new customer services, new geographies and increased automation,” said Olivier Tsalpatouros, Senior Director of Global Regulatory and Trade Affairs at DPDgroup.
“Years of scientific research and development of machine learning capabilities have allowed Eurora to demonstrate that we trust the logistics and postal industry. Eurora’s AI engine can find the most appropriate answer from a large amount of data by learning from the constant addition of data,” explained Marko Lastik.
Eurora’s AI uses over 500 million training data records from real transactions from the world’s largest logistics service providers. The platform can be used by online sellers, marketplaces, logistics and postal activities companies to automate tax and customs declarations and assign the appropriate HS code.
*Level observed on Eurora’s global compliance platform solutions in 2022.
Photos: please use the link here to access photos, videos and logos of the DPD and Eurora cooperation.
DPDgroup is one of the world’s leading parcel delivery networks, aiming to become a benchmark in sustainable delivery and a leading player in accelerating e-commerce. We combine innovative technology and local knowledge to provide flexible, user-friendly service to both shippers and buyers.
With 120,000 delivery experts operating in nearly 50 countries and a network of 70,000 collection points, DPDgroup delivers 8.4 million parcels worldwide every day (i.e. 2.1 billion parcels per year) through DPD, Chronopost, SEUR, BRT and Jadlog brands. DPDgroup is GeoPost’s parcel delivery network. GeoPost recorded a turnover of 14.7 billion euros in 2021.
About Eurora Solutions
Eurora uses artificial intelligence and machine learning to automatically manage cross-border VAT, duty amounts and declarations.
In recent months, Eurora has opened a central office in the UK, in London, and a central office in the United States, in Miami. Chris Lentjes, seasoned Pitney Bowes and DHL professional with over 20 years of industry experience, became US CEO of Eurora; e-commerce heavyweight, walter trezek joined Eurora as non-executive chairman of the supervisory board.
Eurora was founded in 2018 by Marko Lastik, a global logistics expert with over 30 years of experience, primarily in Asia. Eurora employs over 165 people in 18 countries.
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Eurora partners with DPDgroup to automate cross-border trade compliance
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