JustCommodity is a leading software solutions provider catering to the commodity trading industry, particularly for the trading of edible oils. Its commodity trading and risk management (“CTRM”) solution, ContraXcentral™, is a premium web-based contract management and execution software suite specially designed to support the needs of commodity trading houses. The proprietary solution provides the framework for commodity trading companies to manage their trades, risk management and hedge accounting purposes to meet the requirements of the International Financial Reporting Standards (IFRS). Not only is it a unique solution that emphasizes business intelligence, the implementation of ContraXcentral™ also improves the efficiency and profitability for its users.
As a young company, JustCommodity was already ranked 2nd in Singapore and 106th in the Deloitte Technology Fast 500 Asia Pacific Ranking and was a winner in both the Red Herring 100 Global and the Red Herring 100 Asia awards in 2010.
JustCommodity’s vision is to reach out to a wider audience in the commodity space as we are currently concentrating in the agriculture aspect. We have set a 2-3 year horizon to expand our reach to the other commodity verticals (Metals, Grains, Energy, Oil and Gas). Tremendous R&D efforts have been put into new product development to cater for new technology so as to service the future roadmap and specifically handle the respective vertical markets. Being a leader in providing Commodity Trading and Risk management Solutions (CTRM) for Enterprise companies, we recognize a strong necessity to provide alternatives to the small and medium sized organizations (SME). Thus, through the adoption of a cloud computing model (SAAS), we hope to develop a light-weight version to be widely distributed on a subscription basis to the SME clients at large. In the long term, we would like to introduce an exchange platform (B2B) through electronic data interchange (EDI) technology. This enables us to link up our community of Commodity Trading companies –powered by our solution – with other trading facilities (banks, brokers, credit lines, freight company, supply chain, etc).
JustCommodity’s mission is to revolutionize the Commodity Trading Industry by providing advanced solutions to enhance both organizational efficiency and productivity. Together with our three key objectives – To Educate, Empower and Transform – JustCommodity is well-positioned to craft new standards and provide a world-class solution in the CTRM space, especially in this volatile global commodity markets.
In view of the growing potential in the commodities market, JustCommodity had closed its first round of funding worth USD $4.5 million from the Singapore Government and local venture capital firms like Extream Ventures and OCBC Walden and Wearnes capital who have expressed great interest in partnering JustCommodity. This presents JustCommodity with the opportunity to further innovate and develop ContraXcentral into the flagship product to be used by the industry at large.