Digitize and seamlessly manage the documentation flow associated with physical commodity assets, permitting near real-time traceability and inventory transparency
Commodity desks are under increasing pressure to improve their cost and risk management. Logistics teams are burdened with managing a diverse flow of paper documents, from warehouse inventory reports to bills of lading. These documents arrive in multiple languages, formats and unit standards. Manually capturing and reconciling data from these hundreds of paper documents every month is expensive and error-prone.
Available as a secure web-based portal, IHS Markit Commodity Tracker seamlessly transforms your existing paper inventory documents into digital data. The system analyzes the documents, and uses them to construct an accurate live view of a firm’s global inventory, whether in storage or in transit. Data capture and document management is automated for logistics teams, improving speed, accuracy and efficiency without requiring your vendors or partners to change their processes.
Improved efficiency – Automate inventory updates and eliminate the need for manual data entry by using digitized documentation and an API
Reduced risk – Improve data quality with optical character recognition (OCR) technology, enhanced with machine learning-powered cognitive automation
Value-added data – Gain new insights for business decisions with near real-time views of current inventory status per location
Simplified reporting – Use industry standard csv download reports , either sent on a repeatable, scheduled basis or as required
Interoperability – Enhance reconciliation activities with API access that can be configured for direct integration into existing trading and risk systems
Searchable archive – Ensure quick reference and auditability with all documents stored in a hosted environment and linked to the relevant material