27 November 2015, Stockholm & London: Chinsay, the global standard for real-time contract management in the physical commodity markets, has today received a Special Commendation for Excellence in Commodity Risk Mitigation at the Commodity Business Awards. The yearly celebration of talent and excellence in commodity markets took place on 26th November at the Savoy Hotel in London.
Dag Sundén-Cullberg, founder and CEO of Chinsay, commented: “It is a tremendous honour for us all at Chinsay to receive a Special Commendation at this year’s Commodity Business Awards. Having our online Commodities Contract Management system (CCM) recognised by our peers is a great achievement and a fantastic way to end 2015. We have worked closely with our clients to further develop CCM’s functionality this year and are looking forward to more successes in 2016.” Sundén-Cullberg added: “CCM is our direct response to an increasingly complex environment and the need for more effective risk management tools. Commodity industry participants can no longer afford the uncertainty of traditional, manual contract management if they want to remain competitive. At Chinsay, we believe that the solution lies in technology, in processes, and in providing our clients with real-time access to all the information they need to identify and act on risks. We are here to help the industry take this next step forward and we are thrilled to see our solution being acknowledged.”
Chinsay’s CCM reduces risk and compliance issues by providing users with an efficient and controlled environment to issue accurate and timely commodity contracts. A simple workflow and a complete audit-trail help to remove manual errors and uncertainty during the contract drafting process, significantly reducing the time and effort for contract creation and management. The system helps users achieve new levels of speed, security and efficiency in a real-time, online, scalable system.
Guy Isherwood, Publisher of Commodities Now, praised the Swedish-based company for their achievement: “My congratulations to Chinsay for the outstanding work they have completed over the last 12 months.”
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Chinsay is the global standard for online freight and commodities contract management in the physical markets. The company’s technology provides 21st Century control and management to one of the most important, but historically, one of the least technologically connected areas of world trade – the trading and transportation of physical commodities. Chinsay is the only company which is completely focused on bringing control, security and real-time cost efficiencies to the trillion dollar global commodity and freight trading market.
Headquartered in Stockholm, Chinsay has a Far East regional office in Singapore and representative offices in the UK and Japan. It has more than 3000 users at 270 corporate clients across 40 countries, ranging from some of the largest trading houses, commodity producers and their brokers through to cargo charterers and ship operators. Clients benefit from the cloud-based, real-time contract management and position-keeping that only Chinsay can provide.
When Chinsay launched in 2000 it was clear to the founders that a contract was at the heart of every trade. Now Chinsay is at the heart of every contract.
Chinsay brings control, efficiency, accuracy and security to global trade.
For more information visit http://chinsay.com
The Commodity Business Awards: A two-stage process
Stage 1: The first stage for nominations concluded in September 2015. Companies from throughout the commodity complex were invited to nominate themselves or others in any one of the 20 categories of excellence.
Stage 2: The second stage took place during October 2015 and involved voting at the dedicated Commodity Business Awards website for one of the shortlisted nominees from each category drawn up by the awards panel.
Votes were then counted, and in conjunction with the strength of each nomination and the views of the awards panel, winners were chosen.