Commodity merchants in agriculture firms face 5 predominant enterprise challenges comparable to money administration, danger/hedging effectiveness, operational/provide chain efficiencies, correct and well timed market intelligence, and regulatory compliance
Limitations of conventional commodity administration
Utilizing monolithic CTRM techniques leads to data-siloes with no real-time connection between procurement, logistics and commodity buying and selling. Manually inputting knowledge into spreadsheets takes a very long time and infrequently leads to errors because of human errors. With spreadsheets, you don’t get real-time insights which inhibit them from taking up the spot choices primarily based on market adjustments.
Capabilities of contemporary CTRM
Trendy CTRM aggregates knowledge from techniques throughout the worth chain together with CTRM, ERP, accounting and spreadsheets. You’ll be able to analyse the impression of dynamic market actions rapidly, determine areas of alternative or concern, and plan the subsequent steps accordingly. It makes use of the newest analytics instruments, together with AI and machine studying.
How trendy CTRM advantages the agriculture trade
Simpler money circulation administration – Utilizing all obtainable details about funds – each present and historic knowledge – you’ll be able to analyse cost historical past and behavior patterns to find out estimated cost dates. You’ll be able to predict projected money circulation primarily based on cost phrases and analyse situations primarily based on cargo begin, center, and finish dates to guage varied prospects.
Efficient danger administration – Analyse real-time knowledge rapidly to remain on high of danger drivers. You’ll be able to arrange alerts to take quick motion when danger limits are breached.
Enhance operational effectivity – With data obtainable throughout the worth chain, monitoring of stock at every location and sustaining the info turns into simpler. You’ll be able to match obtainable time slots for anticipated deliveries to car availability and scale back wait instances and queues.
Achieve real-time advertising intelligence – Create notifications to warn you when market shifts happen. Having real-time knowledge like climate forecasts from Accuweather and aWhere or market knowledge from Refinitiv and S&P Platts, provides them an edge over the competitors.
Adhere to compliance – Automation makes it simple to conform to laws of commerce repositories. You’ll be able to take immediate actions primarily based on user-defined alerts throughout geographies and asset courses.
Hrish Thota, Eka Software program Options
Eka Software Solutions is a world chief in offering cloud pushed options in Agriculture Business for Buying and selling & Danger, Provide Chain Administration and Monetary Companies pushed by Cloud, Blockchain, Machine Studying and Analytics.