Increase profits, reduce risk and make better decisions with iRely’s i21.
- Identify more buying opportunities
- Create more accurate cost forecasting to avoid surprises and to test the impact of possible market scenarios for contingency business planning
- Increase time spent on value added management of your business with significant time savings from
- Reducing the number and scale of errors associated with data entry
- Eliminating time and effort calculating valuations
- Use freed resources for alternative planning scenarios and other value-added activities
- Significantly enhance performance measurement of suppliers to influence procurement decisions and drive continuous improvement
- Accurately assign responsibility where it belongs, e.g. on Grower, Vendor, or Shipping Line as appropriate
- Use integrated, live risk management reporting to know your position in real time.
- Use mark to market for open contracts for enhanced risk management
- Ensure consistency by using actual real-time transaction data, not collecting data from separate spreadsheets with the possibility of inconsistent data and errors.
- Reduce Market, Credit and Operational Risk. Gain the levels of control, efficiency, and flexibility you need to manage risk.
- Evaluate counterparty exposure to ensure your business is running risk free and within limits stipulated by your finance department
Make Better Decisions
- Provide real-time information to all users through our unified business system.
- Use our advanced contract status views and drill downs to make better decisions.
- Use real-time alerts to drive focus to issues so you can respond rapidly.
- Ensure accurate derivative positions are captured with our broker statement reconciliation
Enhance Financial Management
- Use mark to market for inventory and open orders
- Employ accrual processes based on anticipated vs actual costs at month end
- Use real-time accounting entries for consistent data and accounting results without dual entry of transactions
- Automate logistics updates across all shipments to enable proactive measures to issues
- Avoid out of stocks, improve customer service, and increase efficiency in plant operations
- Use automatic, digital document tracking
- Gain more efficient and enhanced processing of ocean freight and other service costs
- Track and trace commodities forward and backwards
- Track and control warehouse and afloat/in-transit inventory data, including pier, vessel, trucker, arrival dates, and FDA releases
Manage Documents in One Place
- Create a central repository for all documents, eliminating shared drives
- Use automatic document collection for all configured documents (contract print, price fixation letter print, shipping instruction, instore letter) when you send them to the respective counterparty via email
- Create a custom hierarchy of folders that fits your business. Create a folder for each contract with subfolders for contract print, price fixations, shipping instructions, etc.
- Connect a scanner to scan all documents directly sent to the document management system
Collaborate on Web Portal
- Enable business parties to log in, view and update their transactions
- Allow vendors to electronically countersign contracts
- View the results of samples sent
- View the status of pending invoices (all unpaid invoices)
- Enable logistics service providers to update estimated arrival dates of vessels
Download our benefits brochure
Do you want to learn more about the benefits of iRely’s commodity management solution? Download our benefits brochure today.