Contracting processes have been a major pain point in the commodity and freight markets for a long time, and, according to a recent survey 36% of respondents identify non-standard, unfavourable, or risky clauses scattered across many contracts as the risk most likely to cause financial loss, while 28% said that missed deadlines, obligations or opportunities that are negotiated into the contract pose such risks. The survey is part of Chinsay’s latest whitepaper “Find the money (and data) hiding in your contracts” which follows its webinar in collaboration with Commodities People.

The whitepaper delves into the most common contracting pitfalls in the markets that erode a company’s profits and shares insights from C-level panellists from top commodity companies such as Cargill and OMV. The paper offers an overview for commodity and freight markets participants on why digitalisation is important and how optimising and standardising contracting processes results in enormous benefits to the whole organisation.