WISETECH Global, which develops software for the logistics industry, has announced the acquisition of Digerati, a company that provides tariff research and compliance tools to New Zealand and Australian customs brokers.
WiseTech Global CEO Richard White said the company would use the Digerati data set and customer experiences to help develop new border compliance products, aimed at increasing timely, accurate and complete customs entries for customers to better manage increasing transactions at the border.
“With the advent of global border initiatives such as Trade Single Window, Trusted Trader, Known Shipper, C-TPAT, AEO and Supply Chain Security and an ever-increasing critical need to secure borders and ensure that international trade is both safe and efficient, the work we are doing is vital to the next generation of cross-border compliance,” he said.
Mr White said border compliance was a complex, high-risk process with growing transaction volumes, complexity and risk.
“We envision a future of deeply capable, integrated and guided transaction processing that will reduce risks for customs brokers, importers and exporters by significantly reducing compliance breaches, fines and penalties and create a safer global trade environment,” he said.
“WiseTech Global has been investing research and development resources into machine learning, natural language processing, robotic process automation and decision support, all of which must be driven by large volume transaction data and deep learning around vast border agency data sets, compliance, due diligence and risk assessment and mitigation.”
Digerati provides its products to more than 140 companies including DHL, Expeditors, FedEx, Panalpina, Schenker, UPS, Yusen and many brokerage and logistics houses in Australia and New Zealand.