Brady’s Fintrade Readied for Broader Commodity Markets

Last week, I caught up with Harry Knott, product marketing manager, at Brady to catch up on progress with the Fintrade product. A physical and financial trading and risk software solution with cross-commodity capabilities (bulk and packaged), Fintrade also has elements of an ERP product and can meet many of the requirements of commodity supply chains as well as a full featured accounting module called FinAccount. In recent years, the product has been employed in the metals and ags & softs space, and most notably as a US cotton solution for Noble (now COFCO). The purpose of the call was to get a demonstration of the product and specifically examine the concentrates functionality recently added to the platform. Fintrade is a comprehensive modular product. It handles functions from origination to accounting and has built in workflow, security and comprehensive reporting. It has benefited from a recent UI upgrade as well and it demos quite well as a result.

Brady’s approach, started several years ago, has been to add functionality from its aging Aquarius product for concentrates into Fintrade to make it its physical and financial solution for all metals, Ags and softs and bulk energy commodities going forward. This is a good decision as Fintrade provides a very comprehensive and usable platform going forward in our view. However, in enhancing Fintrade, Brady looked at the workflow side of the business as represented in the product, and then added concentrates functionality purposefully where it made sense to do so.

Starting with contract management, Fintrade now has a number of additional aspects to contract management that suit concentrates allowing wet/dry quantity support, multiple payable and penalty conditions to be set up using flexible rules. Fintrade now also has an assay exchange that keeps track of all assay results and triggers recalculations of the all the key metrics as assays are added. It also supports multiple provisional invoicing as is required in the concentrates side of commodities. Splitting and merging of contracts is also a new feature. Overall, the solution is now a fairly robust solution for concentrates and the new functionality has been added in a manner entirely consistent with the Fintrade workflow.

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When looking at the software available in the market for physical and financial trading and risk with aspects of commodity management to support the supply chain, there is no doubt that Fintrade is one of the stronger products available. In many ways, it is the jewel in the Brady product set and Brady should be promoting this product much more than it has done in the past. With the newly added functionality for concentrates, we expect Brady to do just that.

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