We are pleased to announce that TRADESPARENT's Risk and Margin Management Solutions continues to gain greater acceptance in the food and agro-commodity processing industry. Our FH 2020 sales are up 75% vs FH 2019 and we continue to see strong interest for effective and cost-efficient data management solutions.
Over the course of the last months, we have been privileged to start new projects in the milling wheat, palm, soy/soft seeds crushing and refining, and in the poultry industry. Equally importantly, TRADESPARENT expanded the scope of work with our existing clients in Asia, Europe and the USA, thus playing a greater role in the alignment of Business Intelligence initiatives with new business practices and change management worldwide.
Looking back, TRADESPARENT was formed 10 years ago with the belief that a comprehensive forward-looking insight in risks and margins, both in volume and value, with both the physical and financial portfolios integrated for hedge-effectiveness portfolio optimization, were the key to sound risk and margin management of any agricultural and processing portfolio.
Our positioning was also formed by the expectation that the scattered IT landscape of companies would remain fragmented. Therefore, we foresaw that the ability of executives to have a unified timely view of exposures across their portfolio, crucial to informed decision-making, would be a massive challenge.
Today, Data and Analytics are recognized as a critical component of food & agro-commodity trading and processing operations. This is no small change, considering how wide the gap was with practices across the finance, energy and power markets. A mere analysis of openings in the industry reflects the depth of the change.
During the last decade, the industry witnessed a variety of one-system-fits-all initiatives, many of which created more issues than they resolved, ultimately complicating the ability of executives to take decisions based on actualized and accurate reporting.
Digital transformation is not expected to be a straight path, as companies contend with endogenous and exogenous factors. The only way to succeed is to adopt a constant process of anticipation. This is especially important in a year like 2020, featuring deeper disruptions.
Over the course of the next weeks, we will be sharing regular insights on what we believe are the critical steps for commodity trading and processing companies to ensure a successful digital transformation.
Stay tuned and make sure you always remain in control of your exposures!