Commodity tradings have risks you might find difficult to solve. As all businesses are, commodity tradings have their own complexities you need to forecast to avoid negative results accurately. That being the case, you might need commodity trading risk management (CTRM) software to assist you in analyzing and evaluating threats your company might face.
14+ CTRM Software
1. Descartes Datamyne
2. EnHelix
3. Agiblocks
4. Allegro Horizon
5. Enverus
6. Fusion CTRM
7. iRely i21
8. Commodity XL
9. CommodityPro
10. AspectCTRM
11. Eka
12. AGRIS
13. MX.3
14. DataGenic
15. Robo-Commodity
What is CTRM Software?
Commodity trading involves multiple critical factors you need to understand and improve from time to time. Undeniably, manual processes can not handle these elements flawlessly. That is why using CTRM software will be the best choice. It is a technological tool that offers a complete package of advanced features to help you in all stages of your commodity trading, including resourcing, procurement, computation, and more. It provides accurate data analytics and improves insights leading to more improved decisions.
Benefits
Traditional methods of commodity trading have lacks and gaps. It consumes time and effort, which gives inaccurate results. CTRM software eradicates these complexities with its advanced tools. This technology partner enables automation, a comprehensive dashboard, collaboration tools, and more. Plus, it reduces costs, saves time, and ensures quality assurance and operational efficiency.
Features
Commodity trading and risk management software is a valuable asset in commodity trader companies. Due to that, it is expensive. It is also ad advanced and professional tool needed by the professional industry. That is why it is sensible to research and analyze its performance and capabilities to make sure you choose the best for your company. Another reason to research is that the quality of features varies based on the technological firm. Fortunately, most users provide reviews of the software. Several platforms also offer free trials and versions. Below are features you might need:
- Accounting
- Commodity Trading
- Compliance Management
- Financial Management
- Logistics Management
- Reporting/Analytics
- Risk Management
- Business Dashboard
Top 10 CTRM Software
1. Descartes Datamyne
Descartes Datamyne from Descartes System includes commodity trading, document management, risk management, third-party integrations, and more advanced features. Descartes System has annual revenue of $405.7 million and 1,023 employees.
2. Enverus
Enverus includes benchmarking, energy price analysis, risk management, third-party integrations, and more valuable features. Enverus has annual revenue of $373.4 million and 1,524 employees.
3. Commodity XL
Commodity XL from Triple Point Technology includes reporting/analytics, performance metrics, real-time reporting, and more helpful features. Triple Point Technology has annual revenue of $78.2 million and 539 employees.
4. CommodityPro
CommodityPro from Technogen includes mobile access, logistics management, internal controls management, and more innovative features. Technogen has annual revenue of $73 million and 300 employees.
5. Allegro Horizon
Audit management, predictive analytics, risk assessment, risk management, and other useful functions are included in Allegro Horizon. Allegro has annual revenue of $68 million and 350 employees.
6. Aspect CTRM
Aspect CTRM from Aspect Enterprise Solutions includes IT risk management, predictive analytics, third-party integrations, risk management, and more contributive features. Aspect Enterprise Solutions has annual revenue of $25 million and 136 employees.
7. Fusion CTRM
Fusion CTRM from Fendahl includes operational risk management, logistics management, contract/license management, and more logical features. Fendahl has annual revenue of $23 million and 110 employees.
8. iRely i21
iRely i21 includes customer relationship management (CRM), credit risk management, employee management, and more advanced features. iRely i21 has annual revenue of $22.8 million and 157 employees.
9. Agiblocks
Agiblocks from Agiboo include market risk management, portfolio modeling, risk analytics, and more innovative features. Agiboo has annual revenue of $4.3 million and 30 employees.
10. EnHelix
EnHelix includes accounting, financial management, project management, scheduling, compliance management, and more valuable features. EnHelix has annual revenues of $3.9 million and 16 employees.
FAQs
What are commodities?
Commodities are raw materials that are interchangeable. It includes gold, silver, platinum, wheat, natural gas, oil, soybeans, land livestock, primary agricultural products. It is an ingredient usually procured by multiple companies to manufacture products. Commodities can be used for trading, bought, or sold. It is a fundamental constituent in most products; hence it plays a significant role in the marketplace.
Why is risk management important?
Risks are always around the corner. It can take various forms, such as accidents, profit loss, delays, and more. In the professional industry, flawless and reliable operations are essential to reach their goals. That is why risk management is crucial, as it allows companies to evaluate possible unfortunate events and plan for contingencies to avoid them.
What is trading?
Since the beginning of time, trading has played a key role in the business world. Trade is a form of commerce that involves the exchange of supplies and goods between the parties involved. It aids firms in their long-term growth and development by improving essential elements such as marketing, brand awareness, revenue, and more.
Poor quality commodity trading management hinders your operations and productions, given that commodities are critical raw materials. We all know that trading is risky; unfortunate incidents regarding the trading transaction are now news. That is why it is wise to use CTRM software to aid you in analyzing and preventing risks. On top of that, you can generate action plans for inevitable and possible consequences.
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