Gen10 are delighted to announce that Baronie have successfully implemented the CommOS commodity management platform for their leading chocolate business.
With a large, multi-location network and an international supply chain, the cocoa experts at Baronie were looking to move away from their previous excel-based processes.
Baronie researched the CTRM market specifically looking for a web-based system that was able to manage all their contracts as well as providing comprehensive features including global position management, FX, Mark-to-Market and P&L. Integral to their risk management process, Baronie were looking for a system that could manage their complex pricing structure, inter-company trading and could integrate with their existing accounting system.
When considering their options, what stood out to Baronie about Gen10’s CommOS was the robustness and maturity of the system, but particularly its flexibility in pricing different products using ratios and differentials and managing their market exposure.
Gen10’s CommOS supports over 100 commodities across agriculture and softs, metals and energy and their range of diverse workflows, pricing and risk management. It is this flexibility that makes CommOS unique in the Commodity Management marketplace and allows Gen10 to provide clients with the in-depth commodity-specific functionality noted as so important by Baronie.
Baronie also commented that for the same value they got much more out of CommOS than other systems they had evaluated.
Loic Nordmann, Cocoa Trader at Baronie said:
“With Gen10 we have passed from a rigid structure to a dynamic one in a real-time environment and this is helping us to see true value of a contract during all of its lifespan and exhibit our real exposure. It has really helped us to shape our trading strategy and improve our decision taking. Moreover, the Gen10 team has been very good to understand our pricing requirements and fine-tune the system to our needs. We can now tackle the future with confidence.”
Richard Williamson, Founder & CEO at Gen10 added:
“It was a pleasure to work with Loic and his team at Baronie on their digital transformation project. One of the main challenges in implementing operational and risk management systems for commodity trading and supply chain companies is that even within the same industry, in this case the cocoa complex, companies have specific nuances in how they trade, operate and find their competitive advantage. The flexibility of CommOS and the ability of our experienced team of professionals to understand and translate requirements into solid comprehensive processes and data management is what enables us to help such a diverse and complex group of clients and their supply chains.”
About Baronie
Baronie is one of the industry leaders in chocolate. They have been at the forefront of the pan-European industry since 1920.
Baronie are an international company with 10 locations in 5 European countries, linked with a large network of suppliers, laboratories and research partners. They are trusted all over the world due to their market, product and expertise. Baronie manage the entire production chain, from bean to bar, optimising every detail.
About Gen10
Gen10 provide innovative, high value and flexible commodity management solutions. This technology completes the feedback loop between trading, finance, operations and risk teams to support smarter, safer trading decisions.
The Gen10 team works with clients to build up a real understanding of the challenges each client faces to deliver technology that transforms their operations.
Gen10’s cloud-first SaaS solutions provide commodity-specific contract, risk and supply chain management to over 100 commodities and environmental markets worldwide.
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