Background
Headquartered in Seychelles, the company is one of the leading minerals trading company specializing in supplying metals and coal directly from mines to customers. The company procures a wide variety of minerals and metals from suppliers across Africa, Asia and South America and through an extensive distribution network.
Business challenge
The metals and minerals trading leader managed its trading and risk operations across multiple countries and continents mostly through spreadsheets. Given the extensive data silos, they were forced to spend valuable time updating and reconciling information manually. As their operations scaled, managing with spreadsheets was proving increasingly unproductive. The company was looking for a solution that would not only allow them to automate critical workflows but also provides them the agility to support ambitious business growth strategies.
Business solution
Each asset class in metals and mining is governed by unique characteristics, including differences in production, processing, pricing and valuation, transportation and more. This is precisely the reason the customer chose Quoreka given its high degree of functionality, flexibility and support. The fact that the solution was a 100% out of the box fit for their requirements further convinced them of their choice.
Applications implemented:
The customer implemented applications to manage 9 physical contracts as well as foreign exchange contracts, besides risk management that, included hedging, profit and loss, and mark-to-market computations. Additionally, tailored report templates and advanced analytics was also provided to help the customer glean crucial insights.
These pre-configured applications allowed the customer to go live in six months across nine countries and included solutions that allowed the company to do accelerated customization and provided nimbleness to respond to their needs across their entire operation. The fully customizable solutions offered them the adaptability to meet complex challenges of working in the new reality.
The customer specializes in:
- Copper concentrate
- Gold concentrate
- Zinc concentrate
- Silver/lead concentrate
- Manganese ore
- Chrome ore
- Coal
