Your business may be complex, but digitizing it doesn’t have to be.
Digitizing your business can no longer be put on the back burner. Successfully competing amidst persistent market volatility and uncertainty requires the ability to operate efficiently, mitigate risk and quickly take advantage of new opportunities — all things that are not possible when you rely on slow, error-prone manual processes.
But how do you get started?
Commodity management is complicated, involving complex processes, lots of documents in a dizzying array of formats, and some very unique challenges. Figuring out where and how to start digitizing can be overwhelming.
Partner with the company that speaks commodities
At ClearDox, we live and breathe commodities. Our ClearDox® Spectrum intelligent document processing (IDP) solution was developed in 2018 by a global commodities trading house that needed an efficient, accurate way to handle thousands of trade confirmations, BOLs, invoices and other documents on a daily basis.
Our entire team has extensive experience working in energy, agriculture, mining and other commodity verticals, so we speak your language. We have faced the same challenges you face daily, and are uniquely equipped to help solve them. Instead of spending time learning your business, we dive right in, getting you up and running as quickly as possible.
ClearDox Spectrum is the only IDP platform created for commodities companies by commodities experts.
End-to-end automation
We enable you to increase efficiency, mitigate risk, reduce costs and make more profitable decisions by digitizing your documents and automating your back-office processes from start to finish. Our most common use cases cover:
- Trade confirmation reconciliation
- Inventory management
- Invoice approvals
- Movement actualization
- Commodity procurement
- Quality/lab specifications
Built to handle complexity
We take a multi-faceted approach to IDP that enables us to securely handle structured, semi-structured and unstructured documents with ease. With Spectrum, digitizing even the most complex contracts is a breeze.
Unlike other solutions that rely on just one technology for data extraction, the format of the document being processed determines whether Spectrum uses AI, ML, NLP, OCR or a proprietary parsing engine for extraction. Using the best technology for each document type ensures the highest levels of accuracy.
Once data is extracted, it can be automatically reconciled against data in other systems, then integrated into your CTRM, accounting or other internal systems so accurate information is available where and when it’s needed. Staff are proactively notified about discrepancies found during the reconciliation process so they can be resolved before flawed data hits your balance sheet.
Document types processed:
- BOLs
- Trade confirmations
- Contracts
- Inventory reports
- Invoices
- Letters of credit
- …and more
Engineered for rapid deployment
AI, ML, NLP and other technologies enable Spectrum to rapidly “learn” how to process even your most complex documents: data scientists or IT experts are not needed to deploy or maintain the system. This, combined with our deep commodities expertise, ensures a fast, cost-efficient deployment that takes just weeks, not months.
Adapts to how you work
Spectrum adapts to the way you and your suppliers do business, so there is very little change to existing processes and workflows.
Evolves with your business
Because Spectrum can handle all types of documents, it can scale to automate new processes as your business grows and evolves — there’s no need to invest in new software.
