From Months to Minutes: The Pax Solution for Importers

Pax is an innovative start-up founded in 2024, with a mission to streamline import tax rebates for global trade companies using cutting-edge AI technology. With a small but dedicated team of two, and the support of Group Partner Brad Flora, Pax is set to revolutionize the customs and finance landscape for businesses around the world. The platform aims to democratize the import tax rebate process, making it accessible and efficient for companies of all sizes.

How Does Pax Address the Challenges Faced by Importers?

Historically, the process of filing for import tax rebates has been complex and cumbersome, often requiring the expertise of customs brokerage firms. These firms, due to the manual and intricate nature of the process, typically enforce a minimum threshold of $100,000, effectively excluding small and medium-sized businesses (SMBs). Pax’s technology changes this dynamic by automating and simplifying the entire process. With Pax, companies can file drawback claims with just a few clicks, reducing the process from months to mere moments. This innovation is particularly beneficial for SMBs that previously could not afford the services of traditional customs brokers.

What Problem is Pax Solving?

One of the most significant issues in the import-export industry is the large amount of unclaimed duties. It is estimated that approximately 80% of duties, amounting to about $10 billion annually, go unclaimed. This unclaimed money represents a substantial financial loss for businesses. Pax addresses this problem by providing a platform that makes it easy for companies of all sizes to recover the money that is rightfully theirs. By ensuring that businesses never leave free money on the table, Pax enhances the financial health and operational efficiency of its users.

Who are the Founders of Pax?

Pax was founded by Penny Chen and Chris Le, both of whom bring a wealth of experience and expertise in logistics, supply chain management, and AI/ML technologies.

• Penny Chen: As the Co-Founder and CEO of Pax, Penny has an impressive background in designing and building algorithms for pricing, forecasting, fulfillment, and capacity planning. Her work has optimized workflows, reduced costs, and improved quality across logistics and supply chain operations. Penny has previously driven significant projects at MIT, Flexport, and Amazon, using a combination of AI/ML, statistics, and optimization to address real-world problems.
• Chris Le: The Co-Founder and CTO of Pax, Chris has an extensive background in logistics and technology. At Amazon, he worked on scaling the supply chain network, gaining invaluable insights into the logistics space. He later built the TikTok E-Commerce merchant systems from the ground up, and founded Kyros, a live streaming e-commerce platform in Singapore. Most recently, Chris developed financial rewards and billing systems at Brex, further honing his expertise in financial technology.

How Does Pax Make Duty Drawback Easy?

Pax offers a comprehensive software solution designed to upgrade and simplify the duty drawback process. Here’s how Pax makes this possible:

• Streamlined Process: Pax’s platform is designed to simplify and optimize duty drawback claims, eliminating the need for complex paperwork. This streamlining ensures that businesses can maximize their refunds and operate more efficiently.
• Simplified Compliance: By automating and simplifying compliance with customs regulations, Pax reduces the burden of manual paperwork and minimizes errors. This automation makes the compliance process more manageable and less prone to mistakes.
• Maximized Drawbacks: Pax’s advanced optimization algorithms ensure that businesses claim the maximum possible amount on every drawback claim. This feature is crucial for maximizing financial returns and enhancing the bottom line.
• User-Friendly Interface: The platform features an intuitive interface designed for ease of use and efficiency. Even users who are unfamiliar with the intricacies of duty drawback processes can navigate the application with ease.

What are the Steps to Use Pax's Platform?

Pax has designed a straightforward process for businesses to manage their duty drawback claims effectively:

1. Sign Up & Set Up: The first step is to create an account on the Pax platform and set up a company profile. This process is quick and easy, allowing businesses to start managing their duty drawback claims in no time.
2. Import Data & Documents: Once the account is set up, businesses can easily import their customs data and relevant shipping documents. This step is essential for preparing accurate and complete drawback claims.
3. Submit & Track Claims: After importing the necessary data, businesses can submit their drawback claims through the Pax platform. The platform allows users to track the status of their claims in real-time, providing transparency and peace of mind until reimbursement is received.

What Benefits Does Pax Offer to Global Trade Companies?

Pax revolutionizes how global trade companies manage their finances and customs compliance by automating and simplifying the import tax recovery process. The benefits of using Pax include:

• Accessibility for All Business Sizes: Unlike traditional customs brokerage firms, Pax does not enforce a minimum threshold for filing claims. This accessibility makes Pax an ideal solution for SMBs that previously could not afford the services of traditional brokers.
• Significant Financial Recovery: By enabling businesses to recover unclaimed duties, Pax ensures that companies maximize their financial returns. This recovery can represent a significant boost to a company's bottom line, especially for those with high import volumes.
• Efficiency and Speed: The platform’s automation capabilities significantly reduce the time and effort required to file and track duty drawback claims. This efficiency allows businesses to focus on their core operations while still benefiting from significant financial recoveries.
• Enhanced Compliance: Pax’s automated compliance features ensure that businesses meet all necessary customs regulations. This automation reduces the risk of errors and non-compliance, which can result in costly fines and delays.

What Impact is Pax Having on the Industry?

Pax is transforming the industry by providing an accessible, efficient, and reliable solution for managing duty drawback claims. Their platform is not only democratizing the process but also ensuring that businesses recover significant amounts of money that would otherwise go unclaimed. This has a profound impact on the financial health of businesses, particularly SMBs, allowing them to reinvest and grow. Pax’s innovation is setting a new standard in the industry, pushing competitors to rethink their approaches and adopt more advanced technologies.

How is Pax Positioned for Future Growth?

With its cutting-edge AI technology and a clear focus on solving real-world problems in global trade, Pax is well-positioned for future growth. The company’s ability to streamline complex processes and deliver significant financial benefits to businesses sets it apart in the industry. As more companies become aware of the advantages of using Pax, the platform is likely to see increased adoption and continued innovation. Pax’s founders, with their extensive experience and forward-thinking approach, are committed to driving the company’s growth and expanding its capabilities.

What are Users Saying About Pax?

Users of Pax’s platform have reported significant improvements in their duty drawback processes. They appreciate the ease of use, the efficiency gains, and the financial benefits that come with maximizing their duty drawback claims. Success stories shared on Pax’s blog highlight how the platform has transformed customs operations for various businesses, providing insights and tips for new users. These testimonials underscore the value Pax brings to its users, reinforcing the platform’s reputation as a game-changer in the industry.

How Can Businesses Get Started with Pax?

Businesses interested in revolutionizing their duty drawback process can get started with Pax by signing up on their website. The straightforward sign-up process and user-friendly platform make it easy for businesses to begin managing their duty drawback claims efficiently and effectively. By leveraging Pax’s AI-powered technology, businesses can ensure they are reclaiming every dollar they are entitled to, enhancing their overall financial performance. Pax offers a demo and trial period, allowing potential users to experience the benefits firsthand before committing to the platform.

Why Should Companies Choose Pax?

Choosing Pax means opting for a modern, efficient, and user-friendly solution to an otherwise complex and cumbersome process. The platform’s AI-driven approach ensures accuracy, compliance, and maximized financial returns. Companies of all sizes, particularly SMBs, stand to benefit greatly from Pax’s technology, which democratizes access to import tax rebates. With Pax, businesses can focus on their core operations while trusting that their duty drawback claims are handled efficiently and effectively.

In summary, Pax is an AI-powered platform that is democratizing the duty drawback process for global trade companies. By automating and simplifying import tax recovery, Pax is enabling businesses of all sizes to reclaim significant amounts of money, enhancing their financial health and operational efficiency. With a user-friendly interface and powerful optimization algorithms, Pax is revolutionizing the way businesses handle their duty drawback claims. The future looks bright for Pax as it continues to innovate and expand its impact on the industry.