A medical technology company wanted to achieve global transparency regarding its customs data and respond more quickly to geopolitical changes. This client case study shows how we consolidated data from 30 jurisdictions, aligned regulatory requirements with technology, and laid the foundations for data-driven decision-making in international trade.
MAKE TRADE DATA-DRIVEN
30 jurisdictions
Customs data from 30 countries has been consolidated into a single database.
24/7 transparency
Customised reports on customs volumes, duties and trade flows are available at any time.
Global transparency
Risks, discrepancies and potential savings became apparent.
Client
International medical technology company
Sector
Medical technology
Project goal
To ensure transparency regarding global customs data, improve compliance and establish a data-driven basis for decision-making on international trade flows.
Technology
KPMG Trade Data Check, global data harmonisation, Tariff Simulator, Transfer Pricing Adjustment Simulator, digital reporting solution
Video: Mario Urso and Madalina Munteanu on global customs data and data-driven decision-making.
The path to customer transformation
- The task
- Our approach
- The added value
Consolidating global customs data into a single language
Against a backdrop of geopolitical changes and new customs and trade requirements, the client was seeking a way to achieve global transparency regarding its customs activities. The challenge was to consolidate data from different countries, systems and formats and use this to create a robust basis for decision-making in international trade.
Combining regulatory expertise with technology
We initially based our solution on our tried-and-tested Trade Data Check. Customs data from various jurisdictions was harmonised and transferred into a single database. Thanks to an agile approach, we were able to achieve initial results within the first few weeks. The solution was continuously refined and enhanced with additional functions. New regulatory requirements were incorporated.
Greater transparency. Greater compliance. Greater potential.
For the first time, the client gained a comprehensive overview of its global customs data, enabling cross-border comparisons. Compliance risks were uncovered, arising, for example, from differing customs classifications of identical products. Furthermore, the company was able to identify additional opportunities for cost savings, such as through the application of previously unused free trade agreements.
How we make the difference
By combining expertise in customs and trade, regulatory know-how and technological implementation, we help companies harness global trade data as a basis for informed decision-making in a dynamic market environment.
KPMG. Make the Difference.
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