Camden, Delaware – Tel Aviv, Israel, May 2, 2023 – eezyimport, a U.S.-Israeli logistics technology company known for the development of online, self-service freight and customs technology solutions for importers, announces today a global industry-first, free text to HTS (harmonized tariff schedule) code AI (artificial intelligence) tool, to easily identify import goods classification codes. BINA (Borderless Import Navigation AI) increases data accuracy and quickly identifies HTS codes to help importers with an intuitive, easy-to-use self-service tool to assist with Customs clearance.
BINA converts free text into an HTS code
The AI tool converts free text into an HTS code and delivers tiered classification data based on suggestion algorithms. Certainty is improved when users enter specific product descriptions, and Machine Learning models are deployed to continuously improve the algorithms.
Providing full 10-digit HTS codes with 80% accuracy
To date, BINA has had success in providing full 10-digit HTS (Harmonized Tariff Schedule) codes in 80% of the searches. With less certainty, an 8-digit number is displayed, and to aid the user, the system will present questions that help the user identify the code with the greatest accuracy.
Goods are classified for customs using HS product classification 6-digit codes used by the U.S. Customs and members of the World Customs Organization (WCO).
The U.S. uses 8-10 digit HTS (Harmonized Tariff Schedule) product classification codes, where the first six digits are an HS code, and the countries of import assign the subsequent digits to provide additional classification.
Future applications- saving tariff costs per product
Future applications of eezy BINA will include calculating and saving tariff costs per product, real-time monitoring for tariff changes, quotas status, and a holistic landing costs recommendation engine.
Effectively process import shipments
“Helping importers of all sizes, but especially smaller importers, gather the necessary HS and HTS code to effectively process import shipments offers an efficient, online, self-service capability to support their businesses success. Small start-up companies, many involved with e-commerce, are looking for this DIY capability to streamline customs clearance processing and easy access to online solutions any time of day. We also see BINA being used in the future to audit the accuracy of Customs clearance data for high-volume processing firms and allowing importers real-time landing cost visibility” said Barak Ben, CEO of eezyimport.
About eezyimport
eezyimport is an online platform that empowers small and medium-sized importers to handle their customs filing requirements easily. The company became the first to offer such an online DIY solution for this segment to further remove obstacles to growth and leave more cash in customers’ pockets, accelerating their success.
eezyCustoms, eezyFreight, and now BINA continue to simplify complex import management processes with innovative, accessible technology that drives greater efficiency.
For more information: https://eezyimport.com, Connect: LinkedIn
https://eezyimport.com
