Each of our customers in the agriculture industry have faced similar challenges in managing commodity price volatility and risk throughout the supply chain. Many companies end up turning to siloed, one-off software systems or spreadsheets, but these solutions are not adequate in today's complex and volatile commodity markets.
We recently had the opportunity to work with our customer GrainCorp on a customer success story. GrainCorp is an international, integrated grains company providing an end-to-end supply chain connecting consumers to growers. The company trades wheat, barely, and canola, and is involved in grain acquisition, marketing, and processing throughout Australia, North America, and Europe.
GrainCorp was previously using a commodity trading and risk management (CTRM) system that did not support the company’s objectives for global expansion. They needed the ability to run scenarios showing the effect of potential changes on operating margin so they could maximize profits.
GrainCorp's Business Challenges
GrainCorp’s legacy systems were not robust enough to support its business plan for rapid growth into new markets. Their CTRM solution could not cope with the book structure and was difficult to deploy in new office locations. As GrainCorp continued to grow, they needed a solution that could handle increasing volumes of data and perform real-time analytics.
Management also required improved risk and P&L reporting that would include mark-to-market, global risk policy, and advanced risk analytics. GrainCorp sought a flexible, easy to use agribusiness trading and risk software solution that would enable process standardization and aid the company in establishing a global presence.
Eka's Solution
Eka’s InSight CM – Agriculture platform was implemented in a multi-phased approach with support for origination, analytics, and risk. Eka developed a customized implementation plan to meet the client’s pressing deadlines for an expansion to Germany and Canada, and provided an on-site team at all GrainCorp locations. The solution integrates with GrainCorp’s SAP ECC, allowing financials to be posted to the system automatically. The rapid implementation allowed GrainCorp to get up and running and start achieving success within the first three months.
Read the full case study to learn how Eka’s InSight CM solution is helping GrainCorp:
- Market directly to growers and farmers with the grain marketing module
- Easily deploy an advanced, integrated solution at new locations as their business grows
- View mark-to-market, P&L, and advanced risk analytics in real-time
- Seamlessly manage commodity transactions online by tracking prices, contracts, payment status, deliveries, and invoices
Next-Gen Commodity Management for Agricultural Companies
It is no longer sufficient for agriculture companies like to rely on first-generation commodity management software that provides only monitoring and reporting of historical data. Whether dealing in grains, softs, feeds, edible oils, oilseeds, livestock, or other agri-commodities, the need for real-time information throughout the supply chain is key to remain competitive. Commodity market participants need agriculture trading software that includes advanced analytics to optimize decision making.
