Why one size does NOT fit all in commodity management

Every commodity business is different depending on your supply chain position, commodity and internal processes. Gen10 understand how important it is to support these differences in our technology, and we have developed our entire approach to ensure any Gen10 apps you implement have the flexibility to work with the realities of your day-to-day activities.

From custom workflows to a powerful pricing automation engine, Gen10 apps have a wide range of options that allow you to build flexibility into your technology from day one, without the need for additional coding.

And Gen10’s app-based infrastructure, CommOS, takes this flexibility further than ever, with the ability to implement only the apps you need, with collaborative integrations to other systems and services.

Why commodity management apps?

Most businesses investing in commodity management or CTRM technology do so because they are looking to solve a specific problem. Maybe they are working from spreadsheets and need a system that helps the company scale and reduces the risk of errors & omissions, or maybe their existing CTRM platform simply cannot handle the complexity of their operations and so is supported by a lot of off-line activity (post-it notes, lists, emails, other documents etc...). In these cases the answer is often to implement a complete commodity management solution.

However, many businesses are already using software that meets most of their needs but does not manage all of the business’ specific requirements, or they are finding that employees and management would benefit from greater flexibility or stronger collaboration.

Replacing large-scale technology such as an ERP or CTRM is often not a popular solution. Replacing technology such as an ERP may also not be necessary; this typically has functionality that a conventional CTRM doesn’t offer as they are simply designed for different purposes.

This is why Gen10 have developed a modular approach to commodity management. Implement the apps that solve your problems, whether one app or a complete CTRM solution, leverage your existing technology investment and connect the apps to your other software to create your own commodity management ecosystem.

What does this look like in practice?

Your ecosystem includes the technology you use, the connections between your different systems and how you interact with others in your value chain; from trade finance to warehouses, insurers and suppliers. Every ecosystem is different, and many include manual un-audited processes and siloes of information, which could be improved upon through collaborative technology.

Some scenarios where Gen10 apps can help you build on your existing technology investment include:

 

ETRM-01-01A utility company using an ETRM

Their systems meet their needs on the power side but have limited procurement, supply chain or traceability management.

They leverage their existing technology with an interface to Gen10 apps for deal capture, contract management, sustainability audits, logistics and traceability. Explore the benefits of this solution.

 

A multinational with a large ERP investmenterp v3-01

A business unit within a large organisation must use the company’s standard ERP. Agility is compromised. Entering trades and managing contracts is a manual, time-intensive process, supplemented by spreadsheets, emails and IM.

The business unit implements Gen10 apps that complement the ERP with quick deal capture and contract management. See how this solution could work for you.

 

ctrm replacement 2-01A business looking to replace their CTRM

A company has a repository-style E/CTRM. Employees do their work offline and update the system to monitor their position at the end of each day or month. The company needs to improve efficiencies, reduce errors and increase controls.

They use Gen10’s migration tools to move their historical data into Gen10’s collaborative apps, do their jobs faster and benefit from the associated process automation, controls and robust, real-time reporting. Discover the benefits of an app-based CTRM. 

What if the above don’t represent my business?

Gen10 have helped a wide range of clients grow their commodity management capabilities with our app-based approach, from metals and concentrates traders to cocoa sourcing to commodity insurance providers. We are always developing collaborative new apps and integrations, and finding new ways to grow our clients’ digital capabilities.

Get in touch today to discuss your own technology requirements and how our apps can help you build on your commodity management ecosystem.


Posted by Cassie

Cassie is a software marketing expert who blogs on the hot topics facing a range of commodities, from metals to biomass and more. She enjoys meeting people at industry events and learning more about the day-to-day lives of commodity traders. A self-confessed history nerd, when Cassie isn’t in the office, there’s a good chance she’s reading up on the history of trading, and has book recommendations for anyone who asks.