Commodities Trading Platform
Part of Archer Daniels Midland Company (ADM), ADM Agriculture operates from offices throughout England and offers a people-based, quality service to farmers and consumers. As well as providing an integrated supply chain to ADMs UK assets in milling and oil seed crushing, ADM Agriculture supply a full range of non grain feed ingredients to the feed and fuel markets, alongside a comprehensive range of seed and fertilisers.
ADM Agriculture has always been an early adopter of technology, however, when they started to realise that many of their employees' jobs had started to involve implementing workarounds on their current system in order to carry out their roles, they decided that their legacy system had reached end of life. ADM Agriculture decided to engage with a business-critical technology partner to develop a new, modern, bespoke trading platform to support their business as it continues to grow. With the business managing three core product areas; fertiliser, seed and grain, and each having 100’s of different product options with their own pricing and pricing rules, ADM Agriculture looked for a UK-based software development company that was capable of interpreting complex business logic into an intuitive system, based on the latest technologies, that could scale in line with the future business plans.
Audacia developed an intuitive and reliable agricultural commodities trading platform that streamlined and automated key business processes, such as purchase and sales contracts for grain, fertiliser and seed products. This included pricing structures on contracts (added as a fixed priced or a variable price dependent on market value at time of execution) and integrated market price alerts to notify traders on key price fluctuations.
Integrated with ADM Agriculture's two other core business systems, NetSuite and Red Tractor Assurance, the new bespoke software solution provides synchronised, accurate data, with consistent data transfer across systems. The new integrated system provides updating factors such as; invoice generation and supplier validity in real-time, minimising costs and obstructions to the trading process and financial return.
With vital functionality to support the business-critical invoicing module of the business, Audacia streamlined the business process of generating over 200 invoices per day, covering collections and deliveries to and from farmers and consumers, including invoices for the farmer, consumer and haulier, with digitised footprints for claims that are made on delivery if the product does not match the expected quality.
At the core of the software application, ADM Agriculture are able to effectively execute financial planning, with the ability to sort financial contracts into regional pots. This gives the visibility into where they have over sold on a particular type of grain in a particular area, giving ADM Agriculture the accurate, business-critical data that they need for effective reporting and analysis to improve investments, efficiencies and value for money.