TTEK Launches New Customs Revenue Leakage Diagnostic Solution

TTEK has brought to market a new service and analytical tool to help Customs Administrations identify and resolve problems with revenue leakage and trade compliance.

Our solution is already being used to successfully detect issues impacting duty and tax collection, trade agreements and revenue management.

TWO KEY COMPONENTS THAT WORK TOGETHER TO PRODUCE RESULTS:

1)      The first is the deployment of a small team of international and industry leading Customs audit, investigation and system experts who will examine clearance processes and practices to detect likely causes of problems.

2)     The second component is the secure and detailed review of Customs import and export data by TTEK’s data analytics team using our proprietary diagnostic tool, RiskLab BI. This tool was built by Customs experts and is the most effective application on the market to detect lost or evaded revenue. The perfect targeting complement to Post Clearance Audit operations, RiskLab BI can highlight attempts at undervaluation, misdescription, misclassification and misdeclaration of origin.

                                      *Screenshot of TTEK’s "RiskLab BI" Diagnostic Tool

                                   *Screenshot of TTEK’s "RiskLab BI" Diagnostic Tool

At the end of the engagement, our client will receive detailed findings ‘pinpointing’ causes of revenue leakage and non-compliance, as well as TTEK’s assessment of what actions are required.

"The initial deployments of this unique solution have demonstrated some very promising results that have exceeded our expectations. These early adopter clients are now in a position to recoup a significant amount of lost or evaded revenue that would have continued undetected. The investment for this diagnostic has proven to quickly pay for itself." Chris Thibedeau, TTEK CEO.

If you are interested in learning more please contact Brent Patten, TTEK Chief Services Officer at brent.patten@ttekglobal.com