More than 500,000 Australian product records are now available in the Verified by GS1 product registry service, a global, free and standards-based registry designed to validate key attributes about products and the companies that make them.
Local brand owners have added their products to 410 million others on Verified by GS1, safeguarding the identity and ownership of those products in the eyes of global retailers, marketplaces and trade agencies.
Global retailers including giants such as METRO, international online marketplaces like Amazon and customs agencies, for instance China Customs, can leverage Verified by GS1 to support trade processes.
GS1 Australia COO, Marcel Sieira said, “This achievement underlines the value of collaborative efforts among businesses, industry partners and governments in upholding the integrity of supply chains.”
Verified by GS1 not only aids companies in protecting their brand reputation but also empowers consumers to make informed purchasing decisions with confidence.
Verified by GS1 confirms the information that is entered by the product owner and linked to a product’s unique GTIN (barcode) is true and accurate. This verification process helps ensure that product data, including attributes like product description, manufacturer details, product classification and images are correct and up-to-date.
Global gains for imports and tax evasion
The effectiveness of Verified by GS1 is not only for Australian shores. Across the globe, the system helps drive accountability and transparency in supply chains.
China Customs and GS1 Global Office worked closely with GS1 China as part of the customs process, allowing the agency to seamlessly authenticate and verify important details about imported products. The partnership has significantly improved risk assessment and processing of imports into China, making China’s customs clearance processes more efficient and more accurate.
The General Administration of Customs of the People’s Republic of China (GACC) is amongst several border agencies around the world that now leverages the GS1 Global Trade Item Number (GTIN) to expedite border declarations, minimise errors, improve compliance, combat counterfeits and enhance a whole range of customs clearance processes.
For example, many companies and brokers importing goods to China can now auto-populate product information in the ‘single window’ declaration system simply by entering the product’s GS1 GTIN.
Brazilian authority SEFAZ, the tax administration for Brazil’s states, put Verified by GS1 into action and established an authentication system that aids in minimising tax evasion. Calculating the right tax rate to apply to products is a complex affair for SEFAZ. To do it accurately, they need to know exactly what each product on an invoice is.
SEFAZ now uses Verified by GS1 to authenticate the GTINs on the e-invoices they manage. The initiative has positively impacted revenue collections and ensured that consumers receive genuine products.
Verified by GS1 continues to grow, with approximately 300,000 product records being added daily. GS1 says the impact of Verified by GS1 on product authenticity and ownership is transformative for the modern economy.
