India, March 20th, 2024: Cusbuzz has introduced India’s inaugural AI-driven customs duties application, poised to revolutionize how businesses in the export-import (EXIM) industry, logistics companies, and customs house agents access and utilize customs-related information. In the dynamic realm of international trade, staying abreast of customs duties, regulations, and tariffs is crucial for EXIM sector enterprises. Navigating the intricate customs landscape can be daunting, often leading to delays, errors, and potential financial setbacks.
Developed by Futec Global, a tech-based business solutions provider, Cusbuzz is a comprehensive, real-time, and mobile-responsive platform empowering industry stakeholders with valuable insights and precise customs duty calculations at their fingertips. Currently accessible via web and Android platforms, with an iOS version set for release next month, Cusbuzz ensures seamless accessibility across diverse devices and operating systems.
Central to Cusbuzz’s transformative capabilities is its provision of real-time access to updated customs duties, cess, exemption notifications, and IGST rates. This obviates the need for EXIM professionals to rely on outdated and unwieldy resources, such as voluminous books and sporadically updated websites, which often lead to inefficiencies and uninformed decision-making.
Mr. Anil Jain, Head of Marketing at Cusbuzz, explains, “By consolidating and presenting this vital information in a user-friendly, mobile-responsive interface, Cusbuzz streamlines processes, enhances operational efficiency, and enables businesses to make informed trade decisions promptly. This real-time access to Customs tariff is particularly invaluable in the dynamic EXIM landscape, characterized by frequent tariff changes, regulations, and preferential trade agreements.”
Yet, Cusbuzz’s true transformative potential lies in its AI-powered intelligent algorithms, offering strategic recommendations to minimize customs duties and optimize cost savings. This distinguishing feature sets Cusbuzz apart from conventional customs information resources, providing EXIM enterprises and logistics players with a potent competitive advantage.
The application’s intuitive design ensures ease of use, with users able to set alerts on their specific HSN codes for real-time tracking of customs duty changes and new HSN codes.
Through its advanced capabilities, Cusbuzz analyzes numerous factors, including general exemptions, preferential duties, alternative HSN codes, alternative supplier countries, and alternate landing ports. Leveraging this comprehensive data analysis, the app furnishes actionable insights and recommendations that can translate into significant cost savings for businesses.
For instance, Cusbuzz may propose sourcing goods from a country with preferential trade agreements, resulting in reduced customs duties. Alternatively, it may suggest exploring alternative HS codes or relevant exemptions, leading to substantial cost reductions. These strategic recommendations empower EXIM businesses to optimize their supply chains, streamline operations, and bolster their bottom line, ultimately enhancing their competitiveness in the global market.
Moreover, Cusbuzz’s user-friendly interface and comprehensive feature set make it an invaluable tool for businesses of all sizes, from small-scale EXIM operators to large-scale logistics firms and customs house agents.
In an increasingly globalized world, where cross-border trade is pivotal for economic growth and prosperity, Cusbuzz emerges as a game-changer, revolutionizing how businesses access and utilize customs information. Harnessing the power of AI and real-time data, Cusbuzz empowers EXIM professionals to make informed decisions, optimize costs, and stay ahead of the curve in the ever-evolving landscape of international trade regulations.
