WiseTech Global unveils Next-Gen border compliance tool for supply chain
December 1, 2017: While mounting complexity of risks and non-compliance in the global trade continues to weigh down considerable on the supply chain industry, Australia-based leading cloud-based logistics software solutions provider, WiseTech Global recently rolled out ‘BorderWise’, an end-to-end border compliance tool for customs brokers, legal and other trade professionals.
BorderWise is a next-generation logistics compliance management tool, equipped with an integrated suite of legal books, technical documentation, classification of tariff tools, and reference information.
It also offer real-time updates on various legal legislations, publications and notifications from various global regulatory bodies, which help logistics professionals stay tuned with every change in regulations.
BorderWise is embedded with a full-range of publications from WCO Harmonized System that includes principles of valuation to ratify treaties and local legislation.
Similarly, it has a plethora of critical border compliance data, rules and regulation, and advanced search functionality to help logistics providers effectively curtail customs duty and cut down risks associated with the non-compliance of customs.
Richard White, CEO of WiseTech Global said, “Growing intricacies in the global trade continue to add pressure on the supply chain sector. This is where efficient border compliance plays a critical role. To streamline the process, we are building a powerful new technology to address a number of issues, such as productivity, costs and risk mitigation involved in the customs compliance.”
According to Sue Danks, Director of Sue Danks Tariff Consulting who was reportedly involved in the development of BorderWise said, “There are mounting challenges in the compliance of border regulation, which is fraught with risk. Also prerequisites keep changing as and when new legislations and policies are rolled out, thereby making the data convoluted and difficult to interpret. Similarly, customs authorities sometimes tend to disagree on the interpretation and classification of certain goods. Likewise, most countries have hundreds of customs legislation and policy documentations, and hence, managing customs compliance has become a real challenge for customs brokers and self-reporting importers in a scenario where heady penalties are imposed for non-compliance and duty short-payments. BorderWise is a robust border compliance engine that will help every user to mine the right data and information with the help of an advanced guide in a single window.”