Triple Point Technology, the provider of multi-market commodity and enterprise risk management software solutions, announced that Incitec Pivot Limited, the number one supplier of both fertilizers in Australia and explosive products in North America, has selected Commodity XL to manage trading, risk management, and logistics within its newly established joint venture global trading division for fertilizers and chemicals Quantum Fertilisers.
Quantum joins Triple Points growing list of leading customers across the Asia-Pacific region including IFFCO (agriculture, United Arab Emirates), DCP Trading Shanghai (base metals, Hong Kong), GUVNL (power, India) and Petronas (oil, Malaysia). Triple Point has grown to more than 250 employees supporting the Asia-Pacific region with offices in Pune, Chennai, Singapore, and Sydney.
An S&P/ASX Top 50 company, IPL is a leading global company which manufactures, markets, and distributes a range of fertilizers, industrial explosives, and related products and services to customers around the world. In June 2008, IPL acquired Dyno Nobel Limited, becoming a global force in nitrogen-based chemical manufacturing. IPL employs approximately 4,500 people and operates dozens of distribution centers and more than 20 manufacturing plants in the USA, Canada, Australia, and Mexico. Additionally, IPL has joint venture operations in Hong Kong, Turkey, South Africa, Malaysia, and China.
In recent years, soft commodity businesses have faced unprecedented volatility in raw material prices, fuel and freight rates, and other supply chain inputs. In support of its new global trading division, IPL required a comprehensive solution to tightly manage supply chain margins, gain real-time, actionable information for proactive decision-making, and mitigate enterprise risk.
We considered a number of solutions to provide the end-to-end capabilities we required, says James Whiteside, Quantum CEO and IPL General Manager of Supply Chain & Trading. Commodity XL provides a comprehensive system to track, measure, and value the buying, selling, hedging, physical delivery, inventory tracking, and invoicing of our agricultural commodities. Ultimately, it was an easy decision; Triple Point was the only solution that met all of our requirements.
Commodity XL is deployed in the Melbourne and Hong Kong offices of Quantum. Quantum is planning to open three additional offices around the world in the next twelve months.
D.C.