Confectionary Company Transforms Business Processes
One of the world’s largest chocolate manufacturers needed a new commodity trading and risk management (CTRM) solution. The chocolate manufacturer procures a wide range of commodities, including cocoa, sugar, dairy, energy, edible oils, nuts, and corn.
The company was using Excel for tracking open trading positions, a process that was time consuming and inhibited commodity procurement execution. They needed to improve efficiency and increase the quality and timeliness of information for strategy recommendations and decisions.
They chose iRely to:
- Mitigate SOX deficiency and audit risks
- Increase operational efficiency in derivatives and physical buying by implementing a commodity system fully integrated with SAP
- Improve efficiency by replacing manual Excel tracking of open trading positions, cash balances and market prices
- Receive better pricing information
- Enable more timely commodity procurement execution