Agspring Selects OpenLink for Commodity Management

New York - 17 April 2014

OpenLink Financial LLC (OpenLink), the global leader in Transaction Lifecycle Management (TLM) software, today announced that agribusiness company Agspring, a leading supply chain manager of agricultural products, grains and oilseeds, has selected OpenLink's dbcSMARTsoft commodities management solution to manage their global grain operations.

Agspring maintains decentralized operations, relying on subsidiaries and local operating companies to know their growers and geographies in order to remain competitive in the broader grain marketplace. By deploying OpenLink to manage the total trade lifecycle from front-to-back, Agspring can provide their local operating companies with one centralized system to view and understand the firm's positions and risk, as well as profit and loss across commodities.

OpenLink will help Agspring achieve a wide range of their business goals, including enhanced visibility into value chain processes, from raw materials procurement to finished goods. The solution integrates seamlessly with the existing Agspring enterprise resource planning (ERP) system and supports local languages and new geographies, key business requirements.

Additional benefits include:

  • Real-time contract management, inventory management and costing, order processing, supplier settlements, invoicing and risk management.
  • Position valuation, as well as mark to market and real-time bidirectional exports.
  • Front-to-back office operations support, including accumulation and logistics..

Brad Clark, Agspring's President, said, "Aligning with a trusted, strategic technology partner with a track record of success is essential as we expand. OpenLink was our preferred choice because they have a proven history of globally integrating commodity value chains. In addition, they have been able to demonstrate swift implementation times to get our business up and running quickly."

"We are pleased to be the platform that will support Agspring's growth goals," said Dr. Mark Greene, CEO, OpenLink. "Working with Agspring is a testament to OpenLink's ability to support dynamic markets where functionality and return on investment are paramount."

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