AgVantage Commodities: Building a Salesforce Trading Marketplace

a smarter way of commodity marketing

A Salesforce-based trading marketplace connecting buyers, sellers and brokers in the agribusiness sector.

At a glance

What was the objective?

AgVantage Commodities, a leading player in the agribusiness sector, identified a need to streamline their trading processes and enhance transparency in their marketplace.

They faced challenges with manual bid and offer management, as well as document handling, and sought to leverage technology to create a more efficient and user-friendly platform.

The challenges going in

• Manual bid and offer management
• Limited visibility into trading activity
• Fragmented document handling
• Complex matching processes
• User adoption across three distinct user types

What was built?

AgVantage embarked on a comprehensive solution, culminating in the development of the AgVantage Commodities Marketplace. This platform serves as a central hub for buyers, sellers, and brokers to conduct their trading activities.

Bid management

• Buyers can manually enter bids or upload bulk bids via CSV files, providing flexibility and efficiency.
• Bid withdrawal functionality allows users to retract bids partially or entirely, ensuring accuracy and agility in the trading process.
• Bid editing capabilities enable AgVantage and buyers to adjust bid values for specific combinations swiftly.

Bid dashboard

• A dashboard defaults to the current date, displaying the highest bids for each combination based on the site location.
• Advanced filtering options allow users to view historical trends and analyse bid data across various parameters.

Offer management

• Sellers can submit offers via multiple channels, and the data is captured within the platform.
• Buyers can set preferences for receiving offers based on their chosen commodities, ensuring relevance and timeliness.

Automated matching

• Phase 1 of bid and offer matching generates Broker Note Confirmations within Salesforce, streamlining the process but requiring manual confirmation.
• Phase 2 aims to automate Broker Note Confirmation generation and distribution, further reducing manual intervention.

Document handling

• Users and AgVantage can upload and manage transaction-related documents directly within the platform.
• Documents such as Broker Notes, Buyer Contracts, and Commodity Movement Orders are securely stored and easily accessible.

Mobile accessibility

Users receive SMS notifications containing links to access the platform, ensuring connectivity and instant access to bids, offers, and historical data even while away from a desk.

What benefits did it deliver?

Streamlined trading processes. By enabling buyers to manually enter bids or upload bulk bids, the platform significantly reduced the time and effort required for bid management. Bid withdrawal and editing further enhanced agility, resulting in smoother transactions.

Centralised document management. The centralised system simplified handling of transaction-related documents and supports compliance with regulatory requirements. Broker Notes, Buyer Contracts, and Commodity Movement Orders are securely stored and easily accessible, mitigating risk and enhancing trust in the marketplace.

Mobile accessibility. SMS notifications containing platform links gave stakeholders instant access to bids, offers, and historical data, keeping them engaged even while on the go.

What was the outcome?

• Streamlined bid and offer management, reducing manual effort and enhancing accuracy.
• Improved transparency and real-time visibility into trading activities.
• Enhanced collaboration among buyers, sellers, and brokers, fostering a vibrant trading ecosystem.
• Centralised document management, supporting compliance and reliable transaction processing.

What comes next?

• Automation of bid and offer matching processes to further expedite transaction processing.
• Integration with third-party platforms for data exchange and expanded functionality.
• Enhanced mobile capabilities and personalised user experiences to cater to evolving user needs.

With the AgVantage Commodities Marketplace, AgVantage Commodities has not only addressed existing challenges but has also set a new standard for efficiency, transparency, and collaboration in the agribusiness trading landscape.