Even before the Covid-19 pandemic, the commodities industry was facing many significant challenges that depressed trading margins and profitability. In response to these challenges, there has been a growing acceptance of the need to improve supply chain efficiency and operational performance, as well as an ever-increasing emphasis on managing risk and improving data.
When the global Covid-19 pandemic hit, many governments initiated lockdowns and other safety measures, causing disruption to lives, working practices and global supply chains. As a result, the trend towards digitalisation that we were already seeing in the industry has been irrevocably accelerated.
As people moved away from working in formal offices, technology determined to a large extent how effective organisations’ responses to the crisis were. With the return to normal still predicted to be months away and a new culture of working from home that looks set to continue regardless of the Covid situation, being able to support remote teams and access remote support from solution providers is essential.
A lot of companies have therefore realised that Covid-19 has been the tipping point in terms of needing to update and modernise their systems. And many have found to their surprise that it is possible to quickly replace core business systems such as E/CTRMs 100% remotely even during a lockdown and are already using their new systems.
CommOS: Commodity management for a post-Covid world explores these challenges in greater depth and asks how all commodity organisations can successfully and rapidly undergo their own digital transformation journey. To explore how a rapid digital transformation can be completed so effectively and learn Gen10’s 5 key factors for a successful software implementation, download your copy of the whitepaper now.
