Triple Point TechnologyÂ®, the leading provider of multi-market commodity and enterprise risk management software solutions, announced today that Su-Raj Diamonds has selected Commodity XL for Precious Metalsâ¢ to manage its new bullion import and trading business.
Su-Raj Diamonds is an international gems dealer and manufacturer of high-end jewelry. The company is one of ten non-banks recently awarded licenses to import gold by the Reserve Bank of India (RBI).
As commodity sourcing becomes a more volatile part of the supply chain cost structure, a new set of industries, including food and beverage, agricultural, transportation, and manufacturing, are choosing Triple Point to drive cost from the supply chain and protect margins. Su-Raj Diamonds joins other forward-thinking clients across these industries including Unilever, North China Shipping, ST Shipping (Glencore Tank), Nidera, General Mills, IFFCO, Campbell Soup Company, and Incitec Pivot.
âTriple Point is committed to providing companies exposed to commodity price volatility in agricultural feed stocks, fuels, chemicals, and metals with the most advanced, real-time platform to profitably buy, sell, and move commodities,â said Simon Woods, chief customer officer and managing director, Asia Pacific, Triple Point. âWe are excited about the opportunity to help Su-Raj manage its new import and trading business and manage future growth.â
Su-Raj Diamonds will use Commodity XLâ¢ to mitigate exposure to commodity price volatility; manage gold imports on a consignment, forward, and loan basis; facilitate local marketing; streamline business processes across distribution centers; and track bullion shipments and related customs/import documentation. Commodity XL also provides Su-Raj Diamonds with precise inventory management and reconciliation, while ensuring strict adherence to regulatory and auditing standards.
âImplementation of Commodity XL extends our visibility into the supply chain and enables us to make smart sourcing decisions,â said Jatin Mehta, chief managing director, Su-Raj. âCommodity XL enables Su-Raj to confidently manage precious metals price volatility, streamline complex inventory processes, and provide controls to meet our organizationâs security and compliance needs.â