Data Synchronization Between Clients. No Need for Manual Input
We are excited to share some great news with you! The GrainTrack team is working on launching a data synchronization service between clients. Our plan is to enable automatic exchange of various information within the system — contracts, compliance data, prices, invoices, and more. However, we plan to start the synchronization with the logistics registry.
This idea was actually suggested by our clients. Nearly all of them do business with each other, and in their operations, they often exchange large volumes of information via Excel spreadsheets through email.
One day, a client asked us whether it would be possible to automatically exchange logistics registries with their counterparties during transactions. So that once a company processes and enters a registry into the system, they wouldn’t have to send Excel files, and all parties involved in the deal would automatically receive the information. This would save a significant amount of time for all the companies involved in the chain.
HOW IT WORKS NOW:
For grain traders, working with logistics registries is a very labor-intensive process that requires a lot of effort and time. The data coming into the company from terminals is extensive. Logistics involves several key metrics that describe volumes, timelines, conditions, and points of loading/unloading the goods.
These include data such as “dispatched volume,” “volume by waybill,” “received volume,” “loaded volume,” and “accounted volume.” Registries also include loading/unloading dates, receipt dates, and specific details about farms, terminals, ports, and freight forwarders. For a single contract, there can be up to 50 such logistics registries.
What makes the job even harder is that terminals don’t follow unified standards for maintaining these registries. Logistics managers have to do a lot of work to standardize and consolidate the data into one file. Furthermore, the registry data must be constantly updated and finalized. A logistics department manager can spend anywhere from several hours to several days handling one contract.
At the same time, each party to the deal performs the same work, essentially duplicating the reporting process.
HOW IT WILL WORK:
With the new service in the GrainTrack program, a client will only need to check boxes next to the relevant objects in the GrainTrack system to grant access to specific documents or parts of them to their counterparty, after uploading the registry files into the program.
After that, the other party will be able to download the necessary documents or update their logistics data through the synchronization window.
This way, the time employees spend on creating and updating logistics reports will be reduced to just a few minutes.
Sounds great, doesn’t it? But that’s not all! After launching the logistics registry data synchronization service, we plan to introduce similar functionality for exchanging data on contracts and invoices. After that, we will automate data exchange for other sections as well.