BITE Data offers a platform for global trade compliance automation by instantly analyzing uploaded data for tariffs, restricted parties, and supply chain risks. The system screens entities against over 200 denied party lists and uses AI for HTS and ECCN classification. This automation reduces manual screening time and classification errors, enabling faster market entry.
Funding
Funding not disclosed
Founders
Product
Problem
Companies face challenges in efficiently screening trade transactions and entities against global risk and compliance datasets. Manual processes are time-consuming and prone to errors, increasing the risk of non-compliance and potential penalties.
Solution
BITE Data offers a platform that leverages AI and machine learning to automate trade compliance screening. The platform analyzes trade and risk datasets to identify high-risk entities, transactions, and commodities. It provides actionable insights and reports, enabling companies to make informed decisions, streamline compliance tracking, and enhance supply chain risk management. BITE Data's tools include pre-screening, restricted party screening, import/export compliance, e-commerce compliance, affiliate tools, and trade audit functionalities.
Target Audience
The primary customers are exporters, importers, logistics companies, compliance officers, and supply chain managers, including both SMEs and large enterprises.
Features
- Real-time screening of people, products, and companies against global restricted party lists and trade regulations
- AI-driven risk analysis to identify potential compliance violations and high-risk transactions
- Automated compliance tracking and reporting to streamline audit processes
- Integration with Slack for compliance updates and alerts
- API integration for seamless connection with existing systems
- Mobile app for on-the-go risk screenings
- Data visualization tools to create custom dashboards and reports
- AI-powered guide to examine entity risk factors