Bahamas Ministry Of Finance And Customs Department Awards Ttek Contract For Border Modernization
TTEK to deploy their proprietary AI-powered analytics tool to identify areas of revenue leakage and optimise operational efficiencies
By: TTEK Inc.
TTEK will provide advanced data analytics using artificial intelligence and expert consulting services to assist Bahamas Customs with their objective to increase revenue collection and improve the efficiencies of their border processes.
The firm will conduct a diagnostic assessment of the Bahamas Customs institutional programs, deploy TTEK's proprietary forensics technology to identify areas of revenue loss, and deploy onsite international Customs experts to support Bahamas Custom's commitment to improve performance, and strengthen internal capacities and operational efficiencies. TTEK's team of international Customs experts will work closely with the Government of the Bahamas to lead institutional reforms and transform border processes to align with international best practise and prepare Bahamas Customs to meet current and future challenges.
"We are very pleased to begin a relationship with the Bahamas Ministry of Finance and Customs Department using TTEK's advanced data analytics and artificial intelligence to improve border processing and revenue collection,"
"TTEK's combination of world leading Customs experts, combined with the deployment of our RiskLab BI™ (Business Intelligence)
Revenue risks are key to the national interests of any nation and unfortunately, non-compliance is common due to issues such as misclassification, undervaluation, misdeclaration of origin, or inappropriate exemptions being applied to imported goods. TTEK helps sovereign nations solve revenue leakage issues using machine learning and artificial intelligence to analyze historical import data from the perspective of post-clearance audit (PCA).
The unique methodology identifies areas of revenue leakage using a powerful combination of deductive, inductive, and predictive analytics. TTEK has standardized these fundamental PCA analytics within their proprietary application called RiskLab BI™. This application includes customized user dashboards designed by data scientists and expert investigators with extensive experience in post-clearance audits, and anti-smuggling and national intelligence roles in Customs administrations around the world.
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