The rising uncertainties that have gripped global businesses has driven demand within the global market for commodity trading and risk management solutions. It is important for businesses to ensure that they steer clear of any discrepancies that could have a long-term impact on the lucrativeness of operations. Most of the global businesses mandatorily weigh the risk factor associated with each of their decisions in order to immune themselves of unbearable losses. Furthermore, trading of commodities involves voluminous transactions that need to be regulated to avoid the emergence of errors or inconsistencies. Commodity trade and risk management (CTRM) solutions provide end-to-end analysis of business processes and transactions to safeguard the interest of a business. The concept of CTRM is similar to Total Quality Management (TQM), and the former goes an extra mile to deploy key technologies to harmlessly administer business transactions. Moreover, CTRM also provides a holistic view on the risks that a business is subjected to, thus, giving a yardstick for analysis to business strategists. The position of a commodity in the entire supply chain along with its relevance for the customers is also covered under the ambit of CTRM.
The global market for commodity trading and risk management can be segmented based on the following parameters: end-use, deployment model, and geography. It is integral to get a wide purview of each of these segments in order to understand the functioning of the market.
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A report Transparency Market Research (TMR), produced in the interests of the market players, throws light on the condition of the global market. The report equilibrates all the forces that operate in the global market to foretell a growth path for the market over the coming years.
The responsiveness of businesses towards customer needs as well as to the unfavorable circumstances that surface in the market is an important decider of growth. Commodity trading and risk management helps in achieving the aforementioned requirement for businesses, thus, creating demand within the global market. Moreover, need for financial compliance and adherence of corporate governance policies has also increased the demand for commodity trading and risk management. The quest of the businesses to centralize their trading strategy in order have a greater level of control over commodity positions can also be fulfilled with CTRM. Hence, the market for commodity trading and risk management is anticipated to reap benefits from multiple avenues over the coming years.
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The emergence of Artificial Intelligence (AI), Internet of Things (IoT), and big data has assisted the domain of CTRM. The physical inventory can be tracked in real-time with the use of CTRM, thus, prompting businesses to employ it within their framework. Businesses aim to reduce their credit risk, regulatory risk, and market price risk in order to be confident of their operations. Hence, the market is projected to keep treading along a pathway of positive growth over the coming years.
The increasing investment towards risk management by several firms in North America has given an impetus to the regional market. Moreover, the early adoption of CTRM in North America and Europe is also expected to play to the advantage of the regional markets. Other key regions include Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA).
Infopro Digital Risk (IP) Limited, AGIBOO BV, Olam International, Aspect Enterprise Solutions, OpenlinkEka Smart Commodity Management., Tech Mahindra Limited, Accenture, SAP AG, and Oracle Corporation are some of the key players in the global market for commodity trading and risk management solutions.
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