Webb Valuation: The future of customs compliance

African ports, as drivers of commerce, require modernized customs to secure revenue and reduce fraud. Webb Fontaine's "Webb Valuation" solution, powered by artificial intelligence, automates goods classification and valuation, making customs operations faster and more reliable. Deployed in several ports, it helps African customs strengthen transparency and efficiency in international trade.

Africa's ports represent the continent's vital import and export lifeblood. With thousands of containers moving through them each month, an efficient and streamlined customs valuation and classification process is essential for securing revenue, reducing fraud, and protecting consumers while ensuring smooth customs operations.

Customs authorities not only face traditional challenges, such as expediting clearance to accommodate higher volumes and fighting  fraud, but they must also navigate the complexities of present-day international trade that outdated methods can no longer handle.

To alleviate backlogs and delays caused by high traffic, digitisation – along with enhanced physical infrastructure – has proven to be an effective solution. Strategic partnerships and collaborations with specialist service and solution providers are crucial to driving success.

Introducing Webb Valuation’s AI-powered precision

Webb Fontaine’s valuation and classification system, Webb Valuation uses web-based AI-powered solutions to transform the customs compliance space by streamlining processes and eliminating inefficiencies.

Assisted classification and valuation, along with seamless integration of specific workflows, helps customs officials make more informed decisions, backed by advanced data analytics. By automating time-consuming tasks such as classification and price verification, officers are equipped with intelligent tools that enable them to work effectively and efficiently. Additionally, with integrated risk scoring and fraud detection capabilities, errors and losses are also mitigated.

Africa success stories

The growth and expansion of Africa's ports has seen a renewed focus on efficient trade facilitation, with concerted efforts to modernise customs processes and infrastructure. Webb Valuation’s machine learning algorithms and natural language processing help Customs agents to easily and accurately identify product classification codes and transactional value, improving customs processes and accelerating goods release. The result? Secured revenues for Customs authorities and cost savings for compliant trade operators.

At the port of Cotonou in Benin, which handles an average of 80 to 90 merchant vessels monthly, Webb Valuation is part of a suite of Webb Fontaine solutions successfully implemented at this key entry point to West Africa. Leveraging technology to break through the complexities, inefficiencies, and obstacles impeding effective trade, Webb Fontaine is playing a pivotal role in positioning Benin as a competitive economic trade hub in the region

These success stories are replicated in ports across the continent, like Côte d’Ivoire, Central African Republic and Nigeria.

Key characteristics of a digital customs solution

Customs officials looking to improve their processes by incorporating digital technologies should look for solutions that offer accuracy, speed, and transparency, backed by advanced data and predictive analysis. Key features to reach these objectives include:

• Automation and assistance in classification to ensure accuracy in duties and taxes computation while significantly reducing the processing time and associated costs;

• Automatic alerts system and assistance in price verification for customs valuation purposes to reduce undervaluation risks and secure customs revenues;

• Automatic allocation of tasks to specialized Customs expert based on transactions details;

• An integrated case management module to provide trade operators with the right to appeal, to ensuring transparency and compliance with international recommendations;

• An integrated risk management system to identify risky shipments and facilitate compliant operators; and

• Full compliance with international regulations, standards, and best practices (WCO HS, WTO Agreement on Customs Valuation, SAFE framework, etc.).

The Webb Valuation solution integrates all modules, services and features needed to reach these goals, leading to:

• Up to 80% of products being auto classified by AI, with 98% accuracy; and

• An increase in collected duties and taxes of up to 35%, with AI valuation and price databases assistance.

More than technology

It’s not simply about cutting-edge technology that’s revolutionising customs compliance in Africa through its innovative use of AI and automation. It’s about enabling international trade to be fairer, more transparent, and more profitable for all stakeholders. It’s about shaping the future of international trade and ensuring that customs officials are equipped for this future.

Originally published on: Science Watch Infos