New features allow traders to track their position, inventory and credits in one place.
Intelage, a company dedicated to simplifying trade, announces the launch of its newest features. The software platform built to help companies manage their logistics and import/export document flows can be used in many industries but has special modules dedicated to the agricultural industry.
- Intelage is a comprehensive trading solution designed to connect companies with their suppliers for the efficient exchange and transport of agricultural products
- Intelage integrates with customer systems to enable access to a range of service providers, including those outside of the customer’s immediate market
- Bids and contracts are tracked and managed, ensuring the reliable transfer of products and the underpinning financial baseline
- Service providers are enrolled without time consuming and tedious set ups. Interactions with Intelage’s platform can be as complex as a full integration or as simple as an email confirmation
According to the USDA, 4.5 billion tons of agricultural products -worth $3.1 trillion- moved via all transportation modes. Trucking alone is “responsible for 83% of the agricultural freight movements by tonnage and accounted for 56% of agricultural freight ton-miles”. Tracking these logistics moves generates more than 1 billion pieces of documentation: from bids to contracts, to proof of delivery through the supply chain to invoicing and collections. One trade generates a minimum of 10 documents while handoffs to different functions within a single organization duplicates number of copies/documents on each trade. Traders of agricultural products – including growers, food processors, grain elevators, etc. – are faced with a time-intensive and often unreliable document sourcing process. Intelage solves these inefficiencies by implementing technology to connect shippers, buyers, and carriers in an optimized trading network.
Intelage consolidates all documents in one place and manages the document flow for bids, contracts, bookings and logistics between shipper and buyer allowing not only document tracking but all analytics around them: previous bid price ranges, bidding behavior from vendors and response time -amongst others. The platform enables domestic trading as well as international exports and offers direct connectivity with all major rail and ocean carrier platforms for easy bookings and tracking. It also allows for access to EDI enabled trucking carriers. This ability to integrate with existing systems and incorporate inputs -such as digital scale tickets-differentiate Intelage’s platform from the pack. “Our platform integrates with all major digital scale systems and lets our customers have immediate access to pickup and delivery information”, says Sean McGrath, Head of Product Development for Intelage, “Customers do not need to wait for a paper copy to proceed with billing and invoicing”. He also notes that integrations with customer’s systems allows them to digitize historical data and enables high-level data analytics.
The latest Intelage feature makes trading even easier. Traders can now track their positions and manage inventory while monitoring credit. This new module provides profit and loss views and takes the financial impact a trader’s work on execution/arbitrage decisions to the load level – and helps them review choices prior to final execution.
Jay Weber, Strategy Vice-President for Intelage, describes the new modules as ‘ground-breaking’. “Our software platform is not designed to ‘disrupt the industry’, it is designed to improve and streamline our customer’s processes”. He also highlights customer feedback. “Our customers tell us we are listening as connecting and sharing documents instantly (that are intended to be shared) like scale tickets has been a long time coming.”
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