InstaNext, a premier provider of cloud-hosted commodity trading and risk management solutions, announced today that Campbell Soup Company has selected the InstaNext platform to manage their commodity hedging program.
Headquartered in Camden, N.J., Campbell Soup Company (NYSE:CPB) is a global food company with annual sales of more than $8 billion. The Company makes a range of high-quality soups and simple meals, beverages, snacks and packaged fresh foods. Led by its iconic $2.1 billion Campbell’s brand, the company’s portfolio extends to numerous other market-leading brands including Pepperidge Farm, Bolthouse Farms, Arnott’s, V8, Swanson, Pace, Prego, Plum, Royal Dansk, Kjeldsens and Garden Fresh Gourmet.
Campbell was looking for a robust CTRM solution to replace their existing commodity management software — a system that could give them the ability to manage their commodity hedging program while also providing the necessary coverage analysis. After considering the usual CTRM software players, Campbell selected InstaNext based on the solution’s highly sophisticated yet intuitive capabilities. Unlike big box systems, with lengthy and extremely costly implementations, Campbell will be able to rapidly implement InstaNext’s cloud-hosted solution and begin using the system in a matter of weeks. Richard Kulaszewski, EVP at InstaNext states, “Businesses across the agricultural spectrum are shifting to InstaNext for advanced coverage analysis and risk management capabilities at a reasonable price point. Campbell currently has various legacy systems and spreadsheets that they use to conduct commodity risk management, coverage analysis and accounting. InstaNext plans to replace these systems on a single cloud-hosted platform.”
Once the system goes live at Campbell, the food giant will rely on InstaNext to track and account for their derivative trades, as well as to reconcile positions and P&L with their brokers and counterparties. Additionally, Campbell will utilize the platform to manage their hedge coverage and spend against their budgeted prices and volume forecasts for the numerous commodities that they procure. By implementing the new system, Campbell aims to alleviate its reliance on spreadsheets by making use of InstaNext’s advanced reporting capabilities. Utilizing the system’s various analytics and reporting tools, Campbell will be able to streamline business processes and gain deeper insights into making decisions around price risk.
InstaNext is comprised of a team of software and technology experts in the fields of commodity trading, hedging, and risk management. With an extensive portfolio of prior successes in the CTRM industry, InstaNext provides intuitive solutions to help companies meet the challenges of the complex commodities world. The InstaNext platform simplifies every aspect of commodity trading and risk management. The multi-market platform allows companies to analyze their positions in real-time via its powerful analysis capabilities. With InstaNext, historical and scenario-based data can be used to compare current positions against changes in the market, allowing for more effective management of portfolio risk and ensuring profit margins are secure. Using the latest cloud-hosted technology, InstaNext can be implemented quickly and with low risk.
For more information please visit our website at www.instanext.com.