On 18-20 September, Eurora participated in WMX Asia in Bangkok as a Premium Sponsor. It was a great opportunity to share expertise on cross-border trade and present intelligent solutions that free postal professionals from delivery delays and penalties.
Egon Veermäe, Chief Operating Officer, Paul Scratchley, Commercial Director, Linda Garder, Director of Eurora Collect and Majed Zambaraji, CEO Middle-East, spent 3 rewarding days networking and exchanging with other industry experts.
If WMX has taught us anything, it is that the postal industry is avid for innovative technologies that can help them cope with the growing challenges they face. And that postal professionals see Eurora as a key partner in automating their cross-border trade compliance.
Did you miss WMX Asia? Check out our 5 key takeaways from the event.
1. WMX events are a must-attend for post and parcel professionals
WMX conferences are international trade events designed for senior post and parcel professionals. They bring together C-level and senior executives from across the globe to discuss key developments and trends affecting a region. Attending WMX is a great opportunity to connect and exchange ideas on cross-border trade with other industry leaders. That is why Eurora joins WMX events around the globe. Earlier this year, we took part in WMX Americas in Miami to share expertise on the future of cross-border trade taxation, and in WMX EMEA in Dubai to present Eurora’s AI-based solutions that boost cross-border trade.
Linda Garder was at Eurora’s booth to answer questions from attendees about how Eurora can make cross-border shipping simple. She was very enthusiastic about the outcome of WMX. “It was a great opportunity to network and make new connections with people in industry across the globe. I also very much enjoyed all the presentations which provided insights into the struggles and successes that companies have had during these past few turbulent years.”
2. The postal industry is confronted with unprecedented challenges
With the growing energy crisis and record inflation rates across the globe, consumers are left with less disposable income, so they look for cheaper options when they order online. This is adding challenges to postal systems and e-commerce companies which are already facing climbing costs. Business logistics costs rose 22% in 2021 as companies worked to adjust to shifting consumer demand.
On the other hand, customers are demanding seamless shopping and delivery experiences as standard. They are in the driver’s seat, pushing postal operators and e-commerce businesses to adapt quickly and be flexible. This leaves little room for businesses to deal with their trade compliance, especially when they are shipping cross-border. Consequently, many businesses give up on their dreams of global expansion.
“The expectations on the shipper and the new regulatory requirements have introduced costs into the process that can’t be absorbed into the profit margin, leading various businesses to cease trading internationally,” said Paul Scratchley about challenges he witnessed at WMX. “Trade and the possibility of global recession, along with new export regulation was very much the topic. It was very clear that many businesses had stopped shipping internationally, particularly when it comes to Europe and the IOSS regulation for items under €150.”
3. Innovative technologies are changing the delivery game
With the growing challenges that global trade is facing, the key to making cross-border trade faster and more cost-effective lies in technology. Many shippers start to understand that their business is only scalable through automation. With this in mind, they are searching for services that can help them automate processes, especially when it comes to cross-border regulations.
“Companies are more and more turning to technology to keep up with the higher customer expectations and ever-changing regulatory environment. It was very encouraging to see how the solutions that Eurora has developed can help companies large and small across the industry to stay competitive in this new reality and provide the best possible service to their customers,” commented Linda.
Paul also shared insights from his exchanges at WMX. It supports the idea that cross-border businesses need solutions to offer a seamless delivery experience to their customers. “Smoothing the path for clients and enabling them to explore international markets was foremost on colleagues’ shopping list throughout the conference, finding a way to delight the consumer with seamless delivery experiences that worked and saved money.”
4. Eurora can be a key partner in solving industry pain points
Egon Veermäe was among the keynote speakers at WMX Asia and presented AI-backed solutions to avoid delivery delays and penalties. “Carrying out pre-checks on goods, destination countries, and buyers ensures a smooth journey through the supply chain and compliant delivery. Eurora has developed a compliance solution with AI technology and continues to add machine learning across our entire product range,” he commented. Egon’s presentation found great interest among businesses trying to ship cross-border. Eurora’s solution not only makes sure they are fully compliant with trade regulations. It also reduces their costs and time spent on compliance while improving their customers’ satisfaction.
Linda, who exchanged with many businesses in need of a secure and affordable solution, noticed the same enthusiasm for Eurora’s products. “We received a lot of positive feedback on our services providing solutions for real pain points that companies have,” said Linda. “Some companies saw value in our individual products such as HS Code allocation or IOSS registration, whereas others were more interested in the end-to-end solution offering everything from HS Code allocation and Denied Parties/Restricted Items screening to Duty & Tax calculation and collection.”
On his side, Paul received very positive feedback on Eurora’s offer to clear packages of tax and duty prior to delivery. “The star of the show was our Eurora Collect offer, with significant interest from multinational businesses who’ve found the subject of collecting duty on DDU shipments problematic. There has been longing for a solution that allows international customers to clear their packages of tax and duty prior to delivery, removing high admin charges and giving them the kind of door-to-door experience, they were used to prior to the IOSS scheme and Brexit. Being able to streamline that process has led to a number of significant meetings back in the UK after the conference has finished.”
5. Do not miss the next WMX conference in Tallinn
WMX is coming to Tallinn, Estonia, on 13-15 June 2023 for the WMX Europe edition. Eurora is thrilled to be the hosting sponsor of this WMX Europe edition. It will be a great occasion for Eurora to present to the world Estonia’s strong approach to digitalization. Estonia is very entrepreneurial and has the most unicorns per capita including Skype, Bolt, and Wise. It is therefore an honor for Eurora, founded in 2019 in Estonia, to share its knowledge of the Estonian trade landscape with post and parcel professionals from around the globe. If you want to get a glimpse of Estonia’s best technologies, WMX in Tallinn is not to be missed!
This will also be a great occasion for you to get insights to transform your business. Over 30 speakers will share their secrets to revolutionize your business and leverage potential new revenue streams. Over 200 senior executives will attend WMX Europe, offering a unique opportunity to connect with top post and parcel executives and build the key relationships that will drive your business forward. If you want to discover innovative new products that can streamline your business and deliver a better service to your customers, book your place for WMX Europe here.
Are you struggling with the ever-changing regulations? Do you want to know more about how automation can make your life easier and improve your customers’ shopping experience? Get in touch with us!