KYG Trade is an AI-assisted platform that automates the collection and connection of product data to global trade regulations, facilitating compliance with import, export, and ESG attestations. By streamlining workflows and providing immutable audit records, it reduces compliance costs by 40% to 50% while minimizing the risk of fines and penalties associated with incorrect trade attestations.
Funding
Funding not disclosed
Founders
Product
Problem
Global trade compliance is complex and costly, requiring businesses to navigate a maze of regulations related to import, export, and ESG attestations. The process of gathering and connecting product data to relevant trade regulations is often manual, relying on emails, PDFs, and spreadsheets, leading to errors and inefficiencies. Incorrect trade attestations can result in border clearance delays, fines, and penalties.
Solution
KYG Trade offers an AI-assisted platform designed to automate the collection and connection of product data to global trade regulations, streamlining trade and ESG compliance. The platform centralizes import, export, free trade agreements, and forced labor and ESG management. By providing a single source of truth and immutable audit records, KYG Trade reduces compliance costs and minimizes the risk of fines and penalties associated with incorrect trade attestations. The system integrates with existing systems, extending their collaboration and compliance capabilities without requiring expensive upgrades.
Target Audience
KYG Trade serves manufacturers, brand owners, retailers, trade finance companies, customs brokers, lawyers, consultants, eCommerce platforms, NGOs, chambers of commerce, customs and government agencies, supply chain management platforms, track and trace platforms, and carriers and forwarders across industries such as apparel, automotive, chemicals, and technology.
Features
- AI-powered assistant (Kay) that summarizes product research, identifies forced labor risks, and determines HS codes and customs rulings.
- Automated product attribute collection and connection to trade regulations.
- Global network of verified ESG, HTS, export, FTA, origin, and admissibility attestors.
- Management of HS classification, ECN classification, FTA qualification, forced labor risk, sanctions screening, origin determination, and product/supplier traceability.
- Immutable audit records and automatic recordkeeping.
- Workflow automation and collaboration tools.
- Reporting capabilities for regulators.