Expedite classification process and minimize trade risks using expert systems
For smooth movement through customs, you need to ensure accuracy in codes. When dealing with a large portfolio of products, ensuring correct Harmonized Schedule (HS) numbers can be strenuous. Even a slight variation in classification can mean major differences in customs duties to be paid or preferential treatments determination.
With Thomson Reuters ONESOURCE™ Global Classification you can streamline and automate your classification workflow, enhance accuracy, and reduce time and effort spent on redundant, manual processes and more time on value-added activities. You can simply upload your product database into ONESOURCE Global Classification and run a batch classification to assign codes and audit previously classified products.
Manage key classification data with intelligent automation
Access product information stored in a centralized location which acts as your “single version of truth” rather than pulling info from disparate databases.You can create and share product information securely throughout the enterprise
Stay organized for customs audits by maintaining a complete audit trail of all your transactions, including classification, valuation, and duty calculation
Ensure that you are classifying correctly and paying or levying the correct duty rate. You can also map out eligible products and save costs by leveraging preferential trade agreements
Comprehensive built-in trade data can help you oversee tariff codes that have recently modified or are about to change, as well as products classified with them. Users can proactively choose new classifications in advance
Classify accurately, consistently and automatically
Access up-to-date tariff schedules for 240 countries and territories. Utilize sophisticated statistical algorithms to identify classifications for products.
Streamlines your classification activities by automating assignment, management approval, and tracking processes.Transparency into product classifications, ensuring consistent decision making and reducing error rates.
Multiple ERP instances can be integrated in a single instance. In addition to native ERP integration, standard web services are available to integrate with any other external systems.
Leverage the power of AI and machine learning to classify your goods at the 6-digit, WCO level. improve the accuracy of your classifications, spend more time on strategic tasks, and dive deeper into the country-level classification.
Capable of handling specific classification challenges such as supporting multi-sourcing of the same part number, holding multiple tariff numbers for one part number, and requiring classification of any OGA information.