Imbalances in supply and demand as well as sudden weather events are some of the challenges faced by commodities companies in coffee and cocoa. Yet the commodity management software available was not always up to the challenge of meeting the needs of commodities companies. In the last 20+ years, commodity trading and risk management (CTRM) software evolved to support an increased functional footprint. But older solutions were mainly transaction-based solutions with limited analytics and support for real-time decision making. These systems were not equipped to handle the increasing quantities and types of data. Analytics for Effective Commodity Management To remain competitive, commodities companies need to be able to make better decisions with the huge quantity of data that is available to them. The requirements of commodity management platforms are changing from essentially an after-the-fact recording and reporting system to one that provides real intelligence and value back to the business. Responding to these needs requires next-generation software solutions. The generational shift from transaction only systems to next-generation commodity management software with advanced analytics is a big shift for many vendors. Continue Reading about The Benefits of Advanced Analytics for Coffee and Cocoa Companies
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Source: CTRM Center