CrimsonLogic receives the Middle East International Business Award for Technology Excellence | Asian Business Review

CrimsonLogic receives the Middle East International Business Award for Technology Excellence

The company’s seamless, secure, and smart solution helps increase automation in regulatory filings, improve the authenticity of data flow, and access accurate and up-to-date status visibility.

Navigating through cross-border trade remains a complex process and a key challenge for many enterprises. This has become even more challenging due to the pandemic and geopolitical conflicts/tensions (e.g Russian-Ukraine war) as supply chains are disrupted, and global trade remains volatile.

In addition, organisations involved in global trade are also facing various compliance challenges. Customs compliance is an ever-changing landscape, with new regulations and requirements constantly being introduced. The process of manual data preparation and entry for filing declarations is both tedious and time-consuming, taking up valuable man-hours. In addition, the data available in existing in-house applications is often not leveraged or reused, leading to incomplete and inaccurate records. Furthermore, the lack of a centralised database can make it difficult to conduct regulatory audits.

To address this, the CALISTA regulatory filing (CRF) service was developed to transform trade data from source systems according to local requirements and submit the data to the respective Customs nodes. Leveraging on cutting-edge technologies such as Artificial Intelligence (AI) and Optical Character Recognition (OCR), CRF helps organisations with Customs clearance via data reuse, automation, and the streamlining of regulatory filing submission processes. CRF is designed to encapsulate diverse requirements for customers, covering the different Customs nodes' requirements.

This in turn has improved the level of regulatory compliance, increase in productivity, fewer errors, delays, and fines, and overall, a faster Customs clearance experience.

The CRF service is used by various customer segments for regulatory filing to Customs authorities, which includes logistics service providers, freight forwarders, shippers, and software companies. 

For its efforts to automate processes to ensure cross-border trade compliance, CrimsonLogic has been recognised as the Connectivity - Technology award winner at the 2022 Middle East International Business Awards. 

The awards program aims to celebrate the achievements and recognise the contributions of outstanding foreign firms to the Middle East economy.

The Middle East International Business Awards is presented by Asian Business Review Magazine. To view the full list of winners, click here. If you want to join the 2023 awards programme and be acclaimed for your company's outstanding contributions in your organisation's growth, please contact Julie Anne Nuñez at [email protected].

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