Summary:
Tarifflo is a Utah-based startup automating international trade documentation.
The startup's AI-driven platform significantly reduces the time and cost of customs processes, handling tasks that would traditionally require a team.
Tarifflo recently won a $20,000 grand prize at the Tim Draper Utah Entrepreneur Challenge.
The platform is already attracting interest from publicly traded companies and freight brokers.
Tarifflo aims to become a one-stop shop for trade compliance and supply chain management.
Navigating the Trade War Landscape
In today's dynamic world trade environment, companies face increasing challenges due to tariffs and regulations. This has made it essential for businesses to adapt quickly, and Utah-based startup Tarifflo is stepping up to the challenge.
Meet Tarifflo
Tarifflo, a student-led startup from Utah State University, recently won a $20,000 grand prize at the Tim Draper Utah Entrepreneur Challenge hosted by the University of Utah's Lassonde Entrepreneur Institute. The startup's platform utilizes artificial intelligence to automate international trade documentation, significantly outperforming traditional software solutions.
The Problem with Current Trade Processes
For companies involved in e-commerce or manufacturing, the process of clearing goods through customs can be tedious and costly. Companies must classify their goods and navigate a maze of government documents to determine tariff rates and ensure compliance with regulations. As Bryce Judy, Tarifflo's CEO and co-founder, explains, this process can be incredibly time-consuming, often taking hours or days to complete.
The Innovative Solution
Tarifflo's AI-driven technology simplifies this process by generating detailed documents and managing tariff rates in real-time. According to Judy, what used to require a whole team can now be accomplished in minutes. The platform incorporates a vast database covering nontariff measures, free-trade agreements, and various regulatory compliance documents.
The Journey of Tarifflo
The idea for Tarifflo emerged during a coding competition at Utah State University, where Judy and his co-founder realized the potential to automate trade compliance tasks. With the encouragement of mentors and industry professionals, they decided to pursue their startup full-time, leading to the rapid development and success of their platform.
Future Prospects
Since its inception, Tarifflo has attracted interest from publicly traded companies and is expanding its services to include freight brokers and customs brokerage firms. As trade regulations continue to evolve, Judy envisions Tarifflo becoming a one-stop shop for all trade compliance needs, enhancing supply chain management in the process.
Tarifflo co-founders Tanner Helms (left) and Bryce Judy (right) at the Tim Draper Utah Entrepreneur Challenge.
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