Scrap metal company will use software for trading and risk management operations in Asia.
Brady plc, a London-based supplier of commodity, energy and recycling software for transaction processing and risk management, has announced that OneSteel Recycling Asia has begun using Brady’s software to manage its physical trading and risk requirements for its base metals business in Hong Kong.
In addition to its global trading platform, OneSteel Recycling operates from 52 scrap collection locations throughout Australia, New Zealand, the United States, Thailand, the Philippines and Hong Kong.
OneSteel also is a significant exporter of scrap metal to Asia. In 2012 the company shipped more than 2.1 million metric tons of scrap metal through its physical operations and trading business.
Brady reports that OneSteel selected it following a review of vendor alternatives and resulting from Brady’s comprehensive functional coverage, speed of deployment and the in-depth domain knowledge of Brady’s team in the metal trading environment.
Brady says its software package will allow OneSteel to manage and track its physical and futures contracts, match purchases and sales and receive an up-to-date view of the operation’s profitability. The solution ensures the complete traceability of the delivered commodity and facilitates the logistical processes involved in delivering the cargoes, while providing the necessary risk management tools, the supplier says.
Gavin Lavelle, CEO of Brady, says, “We are delighted that OneSteel has selected Brady to manage its trading and risk requirements, thus adding to our growing customer base in the APAC region.
“Brady’s trading solution offers a fully integrated solution that closely follows the lifecycle of a deal," he continues. "It starts with the contractual phase, followed by the execution phase and finally links the data to a fully integrated multicurrency accountancy application. It provides immediate access to key financial information in order to optimize risk monitoring, treasury management and overall business control. We are absolutely delighted to welcome OneSteel to Brady’s customer base of more than 300 companies world-wide.”
Greg Armstrong, managing director of OneSteel Asia, says, “The rationale behind selecting Brady was to facilitate the process involved in enabling our business to make more informed and proactive decisions, streamline day-to-day operations and protect profits. Implementation of the Brady solution extends our visibility into the full supply chain and enables us to make intelligent sourcing decisions to offer better value to our suppliers and customers."
Armstrong adds, “We are absolutely delighted to report that the implementation process ran highly smoothly and efficiently. The project teams from Brady and OneSteel worked in partnership to deliver the solution within budget and within the agreed delivery time-frame. We welcome the beneficial impact that the solution will have on streamlining our internal processes and the positive effects on reducing costs of running the business."