Putting Import Data to Work

Paul Rasmussen and Jeff Wilson, co-founders of Zepol Corporation in Edina, have created a Web-based software service that helps companies find new customers, know who their competitors are buying from, and analyze their market. 


TradeIQ database software compiles information from U.S. Customs import records of raw materials and finished products, Rasmussen says. Zepol launched its software in 2004. 


“One of the major uses for our information is lead prospecting and business development,” Rasmussen says. “We work with dozens of transportation companies that use our tool for finding new customers. They may have a particular office in Miami and want to do some lead prospecting in the area. They can use TradeIQ to generate a list of top importers to Miami.” Zepol has become the second-largest U.S. import data service in the country in terms of the number of customers served, providing TradeIQ to 1,000 clients in 25 countries.

Data Goldmine


Import data is closely documented by U.S. Customs and is made available by its automated manifest system. This system provides daily U.S. import data from approximately 30,000 ocean bills of lading—documents that acknowledge the delivery of imported goods from companies located in 200 countries. TradeIQ takes information from the bills of lading and updates its database, giving users access to trade information within three to 10 days of a shipment clearing U.S. Customs. “You need recent data, not something from 2006–2007. In TradeIQ, you can see shipments from last week,” Rasmussen says. Before the government implemented its automatic manifest system, it could take four to six weeks to get this information.


Subscribers to TradeIQ have access to historical trade information that includes more than 50 million bills of lading. Reports can be downloaded as Microsoft Excel and Adobe Acrobat documents for easy offline analysis, saved searches can be updated with current data, and users get online access to their account from anywhere in the world via the Web. Searchable data fields include bill of lading descriptions and numbers, consignees, and shippers. Recent improvements to the software include making vessel names and container numbers searchable. 


And because TradeIQ is Web-based, customers do not need to load software on their internal systems. “We continually improve the product and make enhancements live when they are ready versus bundling multiple enhancements together and then doing one or more releases per year,” Rasmussen says. Software updates occur regularly and without any end-user involvement. Seven updates have been made this year, as of July.