Good news! We come to you today with yet another Agiboo partnership. As you well know, the ongoing development of Agiblocks throughout the years is as much reliant on our successful partnerships as it is on our internal R&D and innovations. This time around, we’ve partnered up with ClearDox to bring a very practical new feature to the functionality of our flagship CTRM software: an end-to-end intelligent document processing solution created specifically for commodities companies.
Digitalization: the use of digital technologies to adapt business models and move towards a (more) digital business. Not to be confused with digitization, which is the process of changing from analog to digital form and strictly relates to converting data, e.g., converting assets like documents into more usable artifacts.
Confusion aside, you need the one for the other. To fully leverage new technologies, businesses must first digitize their multitude of static documents and workflows, as the primary benefit of digitalization in commodities is the ability to extract insights through data analysis, obtain real-time business information, and reduce costs – all of which are critical considerations in a market with extremely thin margins.
We’ve talked about the benefits and indeed necessities of digitization and digitalization last month. With good reason. Yes, digitalization is driving change in commodity management, for sure, so there were quite a few general points to be made there. Now, we’d like to dive into a far more Agiblocks-specific approach to the subject: the digitization powerhouse that is ClearDox and the standout solution it offers to combat analog inefficiency. For them, the real game is the ability to automate processes once you have digited your assets, in order to fully capture and utilize the insights your data has to offer.
As a commercial entity, ClearDox has been around for only a few years. However, the inception of the software at the heart of the Stamford, Connecticut-based company dates back to almost a decade ago. It is the direct result of the efforts of a team at a global commodity trading house that set out to find an efficient and accurate way to reconcile thousands of daily invoices, trades and other transactions. While having many of the capabilities of an intelligent document processing (IDP) solution, what separates them is the commodity expertise that they have built into the system allowing them to process hundreds of thousands of documents at leading companies.
ClearDox is extending the CTRM functionality with that very same solution: a layer that allows to integrate document flows into Agiblocks CTRM. They are committed to helping commodities companies overcome data- and paper-based challenges with intelligent document processing solutions that make automating manual processes as simple, accurate and efficient as possible.
ClearDox: intelligent document processing
ClearDox is an end-to-end intelligent document processing solution that quickly and securely turns any kind of document – digital or handwritten – into actionable data and artifacts. It is easy to get up and running, and even easier to use. Data is automatically classified, extracted and reconciled, then integrated into your downstream systems.
In other words, the focus of ClearDox is to first take the myriad of documentation any commodity organization receives from across their ecosystem on a given day and returns it in not only a digital format, but also creates actionable automations around those documents.
Benefits to the Agiblocks ecosystems
Solving your data- and process-related challenges requires both the right technology and the right partner. At ClearDox, the team is committed to helping you overcome the obstacles holding you back by working to fully understand your business and its unique needs. What is really unique though, is that it is commodity-specific – not unlike a certain CTRM solution we know. It can be applied to pretty much any commodity, as advanced technologies including AI, ML and NLP (Natural Language Processing) can parse out any and all data – even complex oil contracts or the labyrinthian movement documents behind international logistics – and turn it into a competitive advantage.
ClearDox is created for commodities companies by commodities experts – which is indeed another parallel to our own background and speaks to Agiboo’s philosophy as well. They know their clients, and their pain points. You won’t have to explain what a bill of lading is, or the kind of challenges you run into on any given Tuesday.
Commodities companies can use the solution to improve productivity, mitigate operational risk and make smarter data-driven decisions. It automates data classification, extraction, and reconciliation so your team has more time to spend on strategic initiatives. What’s more, is that there needs to be very little change to how you execute your day-to-day. Implementation of ClearDox takes about two weeks(!), so the business side will see value quickly.
In other words, any company that has data invoicing, logistics, bill of lading, broker reconciliation and even market premiums need not look any further.
Find out for yourself!
Would you like to know more? ClearDox invites you to see it for yourself. You can fill out the form here and they’ll get back to you with a targeted demo specific to your needs. Similarly, if you’d like to experience our CTRM software solution for free and get a front-row seat to all the benefits it has to offer, we can provide a free demo as well. The full range of Agiblocks functionality is available within the demo environment, and we can talk to you about the major efficiency gains to be achieved through our ClearDox partnership as well. Familiarize yourself with all the tools and features of our powerful and agile software solution and find out how you can make the daily practices of commodity trade and risk management more efficient. Join us!