Historically, back-office and operations functions in the commodities business have been areas of high complexity and low automation. Post-trade processes and physical delivery workflows, in particular, involve numerous intricate operational steps.
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Historically, back-office and operations functions in the commodities business have been areas of high complexity and low automation. Post-trade processes and physical delivery workflows, in particular, involve numerous intricate operational steps.
There are many examples of such processes. Logistics and inventory management require the reconciliation of inputs from multiple locations, often involving unstructured data extracted from emails, PDFs, and other non-standard sources. Similarly, the lifecycle management of non-standard physical contracts encompasses a wide range of activities, from contract negotiation to the reconciliation of volumes, quality KPIs, confirmations, and settlements. The lifecycle of Letters of Credit also involves numerous manual steps, ranging from validation and negotiation to final acceptance, often compounded by inefficient communication channels.
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