Optimizing Trade Integrity: Leveraging Automation for Accurate Pricing and Compliance

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Optimizing Trade Integrity: Leveraging Automation for Accurate Pricing and Compliance

B2B Intelligence – BFS Sector Case Study

Problem Statement

In response to the challenges of trade-based money laundering in marine shipping, the XDAS platform delivers an automated solution to streamline pricing accuracy despite the reliance on potentially unreliable handwritten bills of lading, currency differences, and unit measure discrepancies.

Our solution

XDAS provides a comprehensive approach using its suite of automation tools:

Data Integration & ETL: Using XDAS’ seamless integrations, we consolidated data from warehouse systems into a cloud-based processing model for centralized data access.
Machine Learning Model for Pricing: Leveraging XDAS’ Bot Studio and GenAI Studio, we developed a predictive pricing model based on historical HS codes, anticipating commodity prices across different destinations and quantities.
Real-Time Price Updates: The platform utilizes XDAS’ Scrape Studio to extract real-time pricing data, ensuring pricing accuracy is maintained.
User Interface: Design and deploy an intuitive, easy-to-use interface for querying and displaying pricing information.
Currency and Unit Conversion: The platform includes custom components developed using XDAS tools for currency conversion and complex pricing computations, ensuring real-time accuracy.

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Benefits

Price Trend Visualization: The platform visualizes the monthly average price trends, helping users compare input prices with historical data.
Efficiency and Time Savings: With the automation of manual processes, we achieved an 80% reduction in time spent on manual tasks.
Machine Learning for HS Code Identification: By deploying a machine learning component through XDAS, the solution automatically identifies HS codes from bills of lading descriptions, enhancing accuracy and efficiency.