In September 2020, Gen10 were joined by industry experts ComTech Advisory to explore why digital transformation is needed to support business continuity in commodities, and how the Covid-19 pandemic has accelerated this transformation.
Dr. Gary Vasey, Managing Partner at ComTech Advisory introduced the topic, exploring the challenges facing commodity companies and many of the trends he sees as an industry analyst. These include smaller trading margins, optimising asset value, trade finance availability and increased geopolitical risks.
Dr. Vaesy also discussed the impact of Covid-19 and some of the business continuity implications this had, on top of the challenges that we were already seeing as an industry. He went on to say that many businesses are now reviewing their options in light of the pandemic, which has become a tipping point in terms of the need to modernise and update.
But can you undergo a remote software replacement implementation under lockdown?
This is where Gen10 come in.
Richard Williamson, Founder and CEO of Gen10, takes over to explain what makes Gen10 solutions so easy to implement even in a remote environment (at 13:50 in the video). He includes case studies from clients who rolled out software globally in just 6 months and completely remotely (16:45) as well as explaining how cloud technology has made it possible for us to implement new commodity management systems for clients during the recent Covid-19 lockdowns.
He also explores the 5 key success factors for a successful implementation and how these combine to make your work life easier, during an implementation and once the software is in use across the business.
From powering a transformation in how data is used across the business to managing operations according to your processes and inducting new employees with less risk of errors, the impact of technology on business continuity is discussed in a range of circumstances.
The session concludes with a deep-dive into some audience questions (35:00), including the role of technology in trade finance and whether the Excel spreadsheet has any place in a digital commodity business.
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