SINGAPORE, April 06, 2023 (GLOBE NEWSWIRE) — Eurora Solutions (Eurora), the leading AI/ML (artificial intelligence/machine learning) backed cross-border trade compliance platform, has partnered with Joom Logistics (Joom), a third-party logistics (3PL) provider for companies looking to trade with Europe from Japan, Hong Kong, South Korea, Mainland China, Turkey, and other regions. This collaboration enables Joom to leverage Eurora’s advanced technology to simplify customs clearance and enhance cross-border trade efficiency.
Joom works with various clients, including merchants selling on cross-border marketplaces and e-commerce websites built on platforms like Shopify or Shoplazza and delivers more than 5 million parcels per month.
Dmitry Chernyshov, CEO of Joom Logistics, stated: “One of the key issues in cross-border delivery is customs clearance. For our clients from Japan, Hong Kong, Mainland China, South Korea, and other regions, we strive to make this process smooth and easy, as if they were shipping parcels domestically. Our cooperation with Eurora helps us find HS* codes faster, lower our operational costs, and increase our overall logistics performance.”
Allocating the correct HS codes for cross-border shipments can be challenging, especially for companies selling a large variety of products. Incorrect allocation can result in incorrect duties and taxes as well as potential fines and delays from authorities. This acts as a barrier for several merchants expanding their business internationally. Eurora’s partnership with Joom will help address this challenge by leveraging AI and ML to automate the HS code allocation, ensuring accurate and efficient cross-border trade compliance.
Marko Lastik, the founder of Eurora, added: “We’re proud to partner with Joom Logistics and provide their clients with a streamlined solution for customs and import regulations. This collaboration is part of our ongoing efforts to expand our reach and bring our technology to more e-commerce merchants across the globe.”
Joom and Eurora are holding an online webinar (25th of April at 15:00 Singapore time) titled “Understanding HS Codes: why they are essential for e-commerce success?”. The webinar features speakers Yulia Borodavkina, Business Development Manager at Joom Logistics, and Laura Breede, HS Code allocation expert at Eurora.
Eurora’s proprietary AI/ML platform boasts a processing capacity of up to 5,000 requests per second with 98% accuracy, making it the most efficient and accurate solution in the market. Developed by leading scientists since 2019, when Eurora’s platform received a research grant from the European Archimedes Fund, over 250 clients use Eurora’s platform to handle millions of parcels daily. With over 220 employees across 18 countries, Eurora is dedicated to providing its clients with seamless cross-border trade compliance.
Eurora’s partnership with Joom follows recent collaboration announcements with SkyNet, one of the world’s biggest independently owned courier companies, a leading global parcel delivery network DPDgroup, and one of the world’s largest mobile e-commerce marketplaces, Wish.
Eurora Solutions Eurora uses artificial intelligence and machine learning to automatically manage cross-border VAT, duty amounts, and declarations. More than 250 clients already use the company’s platform to send millions of parcels daily. Eurora closed a $40 million Series A round in April 2022.
Joom Logistics is a business that provides logistics, technology and infrastructure services for cross-border eCommerce for merchants from Hong Kong, Mainland China, South Korea, Japan and Europe.