TALLINN, Estonia, Oct. 24, 2022 (GLOBE NEWSWIRE) — Eurora Solutions, the Provider of a Leading Cross-Border Trade Compliance Platform Powered by AI/ML (Artificial Intelligence/Machine Learning), Launches Partnership with DPDgroup, One of the World’s Leading Parcel Delivery Networks .
This partnership will enable DPDgroup, which delivers 2.1 billion parcels per year, to improve its quality and compliance processes while reducing customs processing costs.
DPDgroup will use Eurora’s AI/ML platform to automate the assignment of Product Classification (HS) codes and compliance with export control rules applied in the European Union, the United Kingdom and the United States. United. The assignment of Product Classification (HS) codes and Export Control Classification (ECCN code) is an essential step in the export process, as these classifications are necessary to prove that all restrictions and export control requirements are met. license have been duly verified by the shipper before exporting an item.
Eurora’s compliance platform processes up to 5,000 queries per second with 98% accuracy* – the highest level of accuracy, speed and automation available on the market. With over 15,000 10-digit commodity codes in the EU alone, this speed and cost cannot be matched with the manual or hybrid methods most used today.
As a next step, the two companies plan to expand the geographical coverage of export compliance services, particularly 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,” said Marko Lastik, Founder and CEO of Eurora Group.
DPDgroup, which delivers more than 8.4 million parcels worldwide every day, was looking for a solution that would improve its parcel delivery operations. “In an environment where product safety and transport safety processes are essential, and with growing international activity, we are always aiming 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 geography and increased automation,” said Olivier Tsalpatouros, Senior Director of Regulatory Affairs and Global Trade at DPDgroup.
“Years of scientific research and development of machine learning capabilities have allowed Eurora to demonstrate that the logistics and postal industry trusts us. The Eurora 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 more than 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 companies and postal companies to automate tax and customs declarations and assign the correct HS code.
*Level observed across all of Eurora’s 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 be a benchmark in sustainable delivery and to become a leader in accelerating e-commerce. We combine innovative technology and local knowledge to provide a flexible and friendly service for shippers and buyers.
With 120,000 delivery experts present in nearly 50 countries and a network of 70,000 Pickup points, DPDgroup delivers 8.4 million parcels worldwide every day – 2.1 billion parcels per year – through the DPD brands. , Chronopost, SEUR, BRT and Jadlog. DPDgroup is GeoPost’s parcel delivery network. GeoPost achieved 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 United Kingdom Central Office in London and a US Central office in Miami. Chris Lentjes, a Pitney Bowes and DHL veteran with over 20 years of industry experience, became Eurora’s US CEO; 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, mostly related to Asia. Eurora employs over 165 people in 18 countries.