Key takeaways
- TariffTel presented on customs systems integration at the Customs Compliance Conference, London, 6-7 March
- Tim Ingram-Smith explored integration mechanisms across the end-to-end purchase-to-pay lifecycle
- Having the right data at the right time is critical to avoiding classification delays and fines
- Integration reduces user replication across systems and improves classification accuracy
The Customs Compliance Conference takes place in London on 6-7 March. This is an important gathering for all UK customs and trade compliance professionals looking to discuss the big topics in compliance from classification to border controls and regulation and we’re happy to say we’ll be there hosting a session on customs systems and integration. We’ll be giving customs teams all the information they need to make technology work for them.
Our Head of Infrastructure and Technology, Tim Ingram-Smith, will be lifting the hood on the range of integrations that exist today across the end to end purchase-to-pay lifecycle. He’ll explore the main mechanisms in use and development areas where organisations are investing for better compliance and more efficient processes. Tim’s session will take place on 7th March at 10.10am. If you’re attending, please come and say hello to our team, and if you’re interested in signing up, the details are here.
Why is integration crucial for customs teams?
As the world becomes increasingly connected, integration is critical for modern businesses. In customs ,having the right data available at the right time is crucial to avoid classification delays and ultimately fines. The range of integrations available today is mind blowing, meaning that businesses of all shapes and sizes can take full advantage of being integrated, leveraging their data and reducing user replication across systems.
Technology is the enabler for greater accountability, efficiency and ultimately, cost savings. Expert-led classification solutions such as TariffTel that uphold the highest standards in classification, can play a vital role in enabling customs teams to more quickly and confidently assign the correct tariff code to all goods shipping internationally. Teams should not underestimate the necessary skill and resource that is required to get tariff codes right. The accuracy of these codes directly affects the amount businesses have to pay for importing or exporting goods. Incorrectly assigned codes can result in businesses paying more than necessary, affecting their competitiveness and profit margins. This is precisely where TTVerified adds value — expert-backed, audit-ready classification at scale.
Why is it important that every tariff code is correct?
Accurate HS codes facilitate the smooth and swift movement of goods across borders. Correct classification enables customs authorities to quickly assess and process shipments. On the other hand, incorrect codes may result in shipment delays, leading to dissatisfied customers, increased operational costs, and lost business opportunities.
Assigning tariff codes can be complex. Customs regulations and procedures vary from country to country and customs teams need to familiar with the different requirements. By correctly identifying and applying HS codes, businesses can ensure compliance with specific requirements and avoid potential delays and penalties due to customs complications.
Find out more about the consequences of misclassification and why it pays to get it right.
Find us at the Customs Compliance Conference
Our team will be on hand throughout the two days getting involved in sessions, please come and say hello. We have a stand at the coffee break-out area where we will be showing demos and talking about the challenges and solutions with customs technologies.
By understanding the importance of accurate HS codes and implementing appropriate technology solutions to mitigate risks and assign the correct codes, businesses can ensure smooth cross-border trade and maintain their competitive edge in the global marketplace in 2024 and beyond.
Read more about supporting customs classification teams and mitigating risk and also the importance of compliance in trade.
Interested to hear more about how our easy to use TariffTel solution can support your trade operations. Get in touch.
