iRely’s history is unique. iRely’s first solution, a home-grown CTRM (Commodity Trading and Risk Management) system, was created by CPAs, software engineers, and business operators to solve a specific need for our parent company, a global producer of tea, spices, and flexible packaging.
The team was tasked with creating a custom CTRM system to improve the company’s commodity management processes and better integrate with its Enterprise Resource Planning (ERP), Warehouse Management Systems (WMS) and Electronic Data Interchange (EDI) systems.
The team’s goal was to simplify business processes through automation, collaboration, and digitalization. It worked. The new CTRM system increased efficiency significantly, automating manual processes, decreasing errors, and saving time by integrating seamlessly with the company’s other systems.
In 2008, the principals spun off the IT group and created iRely to sell this new Commodity Management system to other commodity producers and processors. iRely remains privately owned and self-funded, with a long-term ownership plan that ensures private ownership for decades to come.
iRely initially focused on the coffee, tea, and spice industries because of the company’s expertise in those industries. Over time, iRely’s commodity management expertise expanded to include all soft commodities, including cocoa, cotton, sugar, grain, and edible oil.
In 2010, iRely acquired Summit Software, expanding into grain origination and petroleum distribution. In 2011, iRely acquired Comtech Solutions, expanding iRely’s development capabilities in Asia.
In 2013, iRely stopped marketing its software solutions and focused on rewriting the entire solution suite using the latest technology. Harnessing the collective expertise of CPAs, technologists, security professionals, compliance officers, operators, traders, cocoa experts, coffee connoisseurs, and more, the company built a single platform for its entire solution suite, adding new functionality to better serve its customers and improving performance.
In 2015, iRely updated its software and began converting current customers to the new platform. iRely has continued to expand and implement new software solutions designed to strengthen the business needs to each of the four markets served. In more recent years, the team’s commitment to customer success has made them a global leader in digital transformation.
Today, iRely leverages deep industry expertise to deliver business management software for the petroleum distribution, retail, agriculture, and commodity industries. Headquartered in Fort Wayne, Indiana with offices in New Jersey, Texas, Washington, London, Bangalore (India) and Makati City (Philippines), iRely has nearly 40 years of experience providing end-to-end Enterprise Resource Planning (ERP) and Commodity Trading and Risk Management (CTRM) to over 500 customers in more than 25 countries.
Summit Software is founded, providing software solutions for agribusiness and petroleum distribution clients.
Company’s IT develops a home-grown CTRM (Commodity Trading and Risk Management) system, iTrade.
Company’s IT develops a home-grown manufacturing management system, iMake.
- iRely LLC spun off and begins marketing its CTRM software to coffee, tea and spice commodity companies
- Acquires Summit Software Fort Wayne, IN, expanding into grain and petroleum industries
- Acquires Comtech Solutions, expanding operations into Houston, TX and Philippines
- Begins rewrite of iRely platform to consolidate all software onto one platform
- Completes rewrite of iRely platform for petroleum distribution, commodity management, and agriculture
- Implements our flagship customers on new iRely platform
- Begins conversion of customers from origin products to new platform
- Implements new iRely solutions
- Completes convenience store module on new platform
- Continues growth in petroleum, commodity management and agriculture
- Doubles sales as companies increase investment in digitalization, automated business processes, and collaboration