At Agiboo, we love to keep you up to date regarding all things ‘Agiblocks’, most notably with our recent update of the 4.0 version of software, to be launched this month. Or the fact that we’ve teamed up with Quatro Solutions to streamline implementation of Agiblocks and tackle the queues for our CTRM software solution.
At the same time, we keep an eye on trends and developments in our industry as well. For instance, sugar’s 6 influential price drivers. The complexity of commodity trade. Or the factors behind losses in commodity businesses, such as market volatility and price fluctuations. Regarding the latter, Jan van den Brom recently sat down with the team behind CTRMRadio to talk commodity price volatility and how that shifts the market for CTRM solutions, which is an interesting listen. An obvious similarity between the topics is the fact it relates to challenges (and opportunities!) in our industry. Which is what we want to address today as well, because CTRMcenter had another interesting contribution.
In the competitive world of business, commodity-based industries have always faced unique challenges. Despite their essential role in the global economy, many commodity businesses struggle to generate consistent profits. One of the big current challenges gnawing away at that bottom line is the fact it has become increasingly difficult to attract and retain top talent in software development. While commodity business as a whole has not necessarily been at the forefront of digital innovation –even when digitalization has snuck into every sector, most notably finance, the commodities market may have been somewhat lagging – digitalization is still very much driving change in commodity management.
The pandemic and all of its implications notwithstanding, the world of CTRM systems has seen an increasing need to adapt to ever-developing markets. Technology has been at the forefront of many of those adaptations. Which is to say, software development – and the experts that make it happen – is very much a key variable.
Flexibility in CTRM software
There has been a trend towards greater flexibility in CTRM software solutions for a while now. Not too long ago, only the big firms could have it all in terms of scalability and flexibility of software solutions, as they had the time and resources to build their own platforms. Thanks to the modern approach of CTRMs as an ecosystem as well as the availability of cloud service, those previous luxuries are now commonplace. But that’s just a small part of development and innovation.
The role of a software architect requires not only the proper experience for the job, but also the necessary communication skills and the love of working in a team. It’s when you combine the skills, building a strong CTRM software becomes easier to achieve. Be sure to check out our 7 steps to becoming a successful CTRM software architect.
Hiring and attracting talent
Earlier this year, Gary M. Vasey of CTRMCenter, spoke to Carl Vellenoweth, CEO of Commoditas Partners who specialise in CTRM recruitment about the current challenges hiring and attracting talent. One of the hottest topics in this domain, he agrees. Which is why he offered 7 ways in which organizations can position themselves for success when it comes to attracting and retaining talent. An interesting list, that includes promoting intrapreneurship, optimizing the work place (for remote and flex work), and actively demonstrating a commitment to diversity, equity and inclusion. “Streamlining the recruiting process is also crucial”, he said, “as top talent may only be on the market for a short time.” You can find his complete contribution at ctrmcenter.com.
