Chinsay, the global standard for online freight and commodities contract management in the physical markets, today announced that it has been shortlisted for two awards: Risk Mitigation and Commodity Trading & Operations Technology, for the prestigious Commodity Business Awards. The 2015 ceremony will be held at the Savoy Hotel in London on 26th November.
Dag Sundén-Cullberg, founder and CEO of Chinsay, commented: “We are thrilled to have been nominated for the Commodity Business Awards. The committee’s recognition of the excellence of our solution is an honour and also a great accomplishment for us. Most of the companies involved with commodities trading still use manual contracts, which often leads to miscommunications, errors and exposure to risk. This can significantly reduce the profitability, efficiency and reputation of a company.” Sundén-Cullberg adds: “What we are seeing is the turning of a virtual super-tanker: it has started slowly and is now gaining momentum. The global shipping industry can no longer survive with its basic legacy technology. Many of our clients are tier-1 global participants and they are well aware of the need to maintain their competitive edge in an increasingly complex environment. The commodity and freight industries are embracing technology like never before and we are here to help them take the next step forward.”
Chinsay provides users with a complete audit trail, eliminates manual errors, reduces the time and effort required for contract creation and management, and significantly reduces errors and omissions. All contracts are centralised on the platform and are automatically available to all counterparties, making it easy to update the templates and clauses. Chinsay’s solution reduces risk and compliance issues, and improves decision-making, transforming an administrative burden into a value-driver.
The Commodity Business Awards, which reward talent and excellence, will be presented on November 26 in the presence of the most prestigious names in the commodity trading markets.