World’s largest grain traders partner to digitize transactions

The world’s four largest grain traders are banding together to replace paper-based processes —namely contracts, invoices, and payments — with digital ones to increase reliability, efficiency and transparency, according to a press release.

Archer Daniels Midland Company (ADM), Bunge, Cargill, and Louis Dreyfus Company (LDC) have teamed up to develop standardized tools to digitize agrishipping with the initial goal of automating post-trade execution processes.

“The companies also seek broad-based industry participation to promote global access and adoption,” reads a statement jointly issued by all four players.

Read the full story at www.SupplyChainDive.com.

 

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