Customs Authorities and clearance processes are increasingly recognized as a critical asset for a country’s trade ambitions. Balancing the need for secure borders with facilitation of trade is a common challenge for governments and customs authorities globally.
Until now. TradeLens gives customs authorities unparalleled visibility into supply chain activities with verified, trusted and near real-time data shared by supply chain participants. As a result, you can digitize your customs clearance process, improve compliance and facilitate legitimate trade.
Learn how TradeLens, powered by blockchain technology, is helping government authorities around the world reduce friction by directly connecting them to reliable supply chain data and structured customs documents.
Today’s customs authorities face the daunting challenge of monitoring the flow of goods from an increasingly complex supply chain – and not all supply chain participants have honest intent. There are fraudulent documents, counterfeit goods, misdeclaration of values and HS codes –the list goes on.
TradeLens can help customs with trusted data verified by ecosystem members across the supply chain to maximize trade compliance and minimize revenue leakage.
As the flow of goods crosses your borders, just how much of your current selection process is based on absolute certainty?
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If a document from one trading entity conflicts with that from another, which one is right?
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In the world of international trade, no one likes surprises less than customs authorities.
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Undervaluation or misclassification of goods. Inaccurate marking of country of origin. As you see regularly, there are any number of ways that bad players will attempt to circumnavigate your authority.
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Blockchain is unique among emerging technologies because it requires multiple parties for success. As theses parties work together towards a common goal, it’s the classic example of a rising tide lifting all ships.
This presents a unique opportunity for customs authorities. In addition to regulatory authority, your goal is to promote economic growth through fair and legitimate trade. By joining TradeLens, you’re endorsing the movement among permissioned supply chain participants to share data, increase efficiency and generate greater transparency and trust.
Preparing for the arrival of goods can now happen as soon as they leave their point of origin.
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Single-window systems provide process advantages and efficiency gains to both you and the organizations moving goods across your borders. But what could make those systems even better?
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The emergence of secure trade lanes ushers in a new era for the world. Local economies connecting with one another promote business, innovation, understanding and greater global unity.
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TradeLens integrates with users’ in-house systems via non-proprietary, publicly available APIs that are designed for ease of set-up and use.
Open APIs enable real-time data transfer between supply chain participants via publish, subscribe, query and doc share functions.
Reduce EDI maintenance costs with a family of open-standard APIs for real-time data transfer between supply chain partners.
Spur innovation at all levels of your IT division by unlocking creative energies formerly locked up in EDI set-up and operation.
A complete, searchable list of TradeLens Ecosystem members can be found here.
“To establish the Kingdom as one of the world’s premier logistics hub we needed to create a paradigm shift in the way we handle our shipping processes and explore futuristic approaches with our peer-to-peer business ecosystem worldwide.”