WiseTech Global announced the acquisition of the Digerati business (Digerati), a leading provider of tariff research and compliance tools utilised by the Australasian customs broking community.
Digerati provides its Inbound, Outbound, TradeWiseNZ and iClear Online compliance solutions to over 140 corporations including DHL, Expeditors, FedEx, Panalpina, Schenker, UPS, Yusen and many of the largest brokerage and logistics houses in Australia and New Zealand.
WiseTech Global CEO, Richard White, said “Border compliance is a complex, high-risk process with growing transaction volumes, speed and complexity exponentially increasing risk and potential penalties. 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. 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.”
“We will be utilising the Digerati data set and customer experiences in our development pipeline for the next generation of border compliance, aimed at substantially increasing timely, accurate and complete customs entries for our customers, to better manage the exponential increase in 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.”
OzDocs Managing Director, Dr Pandey, said “With the Digerati data set as part of WiseTech’s deep development capability, the compliance tools available to customers to reduce errors, improve compliance and better address risk at the border will clearly expand over time.”
Across 125 countries, CargoWise One enables logistics service providers to execute highly complex transactions in areas such as freight forwarding, customs clearance, warehousing, shipping, land transport and cross-border compliance and to manage their operations on one database across multiple users, functions, countries, languages and currencies.