Global Classification Software
Using Integration Point Global Classification, companies can collect, store, manage and track all classification data in an easily accessible web-based database.
Global Classification, or product classification, is the ability to collect, store, track and manage all classification data in one platform. A classification system typically contains all the classification data needed by a company to import and export products to various countries.
Classification data can be any of the following, plus any company-specific data that is needed to correctly identify, track and report any product that is imported or exported.
- Harmonized Schedule (HS and HTS numbers)
- Special tariff preference programs
- Product descriptions and pictures
- Material Safety Data Sheets (MSDS)
- Toxic Substance Control Act (TSCA) documentation for US companies
- Country of Origin credentials
- Value Information
There are many reasons why a company may want to institute a global platform for product classifications. From centralizing data to managing trade preference programs, utilizing a global classification platform allows a company to establish standards to reduce data management issues and enhance communication to all trading partners regardless of language.
Seven basic reasons a company would want to implement a global classification program are:
- Centralize product databases
- Increase visibility
- Improve compliance across the supply chain
- Minimize risks and/or delays in the supply chain
- Share classification data to maximize compliance in other trade areas
- Demonstrate reasonable care
- Manage trade preference programs applicability
For a further explanation of these seven points, download the tip sheet — 7 Seven Reasons Why Organizations Need a Global Classification Platform.
A centralized classification platform can also assist companies with improving entry audit, reducing errors on ISF or 10+2 entries, and determining product eligibility for various free trade agreements.