Stay ahead of volatile commodity markets. Automate the tracking of current positions, hedging activities, futures, options and other non-cash transactions. iRely grain origination software provides grain elevators, feed mills and commodity management groups the power to simplify these activities and more. Mitigate risks associated with government regulations, shrink and market forces. With iRely, you gain the ability to actively seek out every opportunity, never miss a price move, and in turn, operate your grain business at a higher level of profitability.
In a fast paced market, you need to know your position in summary or broken down by time period in real time. iRely Live DPR (Daily Position Report) shows you what effect every transaction has on your position and allows easy access to all the information you need. Complete drill-down capabilities let you see all supporting position information.
From one screen you can monitor in-house, offsite, and in-transit inventory. Similarly, you can view on one screen, storage obligations, collateral receipts, basis deliveries, company titled stock, purchase and sales contracts, hedges, cash and basis exposures, unpaid bushels, and net payables. With iRely Live DPR, information can be viewed by location or commodity or as a consolidated dashboard. View all commodities at the same time and set your system to refresh as often as you like.
Automate Target Pricing
iRely Target Pricing is built to excel at harvest time to help make quick decisions when time is scarce and volume is high. The Target Order system uses futures prices and accounts for BOT basis levels and freight basis. iRely gives you the option to integrate with real-time quote services, like DTN, to monitor BOT price fluctuations and convert target orders to contracts when the price is reached. Keep up with trading decisions as prices change and maximize the benefit of using real-time data for decision making.
Take Advantage of Options Trading
Take advantage of our Options Position report to balance your risk during market movement. Using options tied to delivery of grain allows you to easily create a variety of contract types; e.g. minimum price contracts, min/max contracts, unit contracts, etc. iRely keeps track of expiration dates and all history. iRely allows for pricing of options and generation of settlement to a customer’s account. Tracking premium and service fees for options can be tricky. With iRely, you can charge option fees to a customer’s accounts receivable, deduct from a future settlement, or reduce the contract price.
Improve Commodity Risk Management
With iRely, hedging is an integrated function. You can enter hedges in the system by broker, commodity, and period. You can also print a list of open hedges or hedge gain/loss reports. Grain can be priced at time of delivery or based on the closing prices, keeping your position up-to-date in your Live DPR. With iRely you can easily access options, target pricing, and hedges by quickly “drilling down” into the system. Because the whole picture of your business can be seen, the right risk management decisions will be made! Brokers’ statements are easily reconciled to the position. Through iRely Grain, merchandisers become masters at commodity risk management by reducing information errors with Live DPR, mark-to-market, and target pricing tools that extract details by subject and priority.
Improve Customer Communications
iRely offers two unique solutions designed to help you minimize clerical time and phone traffic while improving customer service: iRely eCommerce and ONE CLICK.
iRely eCommerce offers your customers web access to account information in a clear and concise format. Our eCommerce solution is hosted on iRely Web Servers and allows your customers access to all their data online. With eCommerce, iRely makes it possible for your customers to stay current and make informed profit maximizing decisions 24/7.
A unique feature of iRely is the ability to ONE CLICK from anywhere in the system to access customer information, without interfering with what you’re doing. ONE CLICK drills down to the details of your contact. Whether you are looking at customer storage, DP, Grain Bank, production history, or you need to cut a check, you can rely on easy access to every detail.
iRely Software scale interface is NTEP certified so you know you’ll never lose a ticket and each weight will be recorded with complete accuracy. iRely Grain also integrates with a variety of grading equipment. When the grain is weighed and graded, the ticket is printed and your Daily Position Report is updated immediately upon distribution of the ticket. iRely instantly updates the grading information and calculates the ticket discounts and shrinks immediately. Tickets can be split any way you want, as many times as you want, and to whomever you want. iRely can provide touch screen scale processing with local or remote scales.
For large grain operations, iRely offers an unattended scale solution. Increase profits by doubling the amount of trucks that pass through your scale and reduce the liability of having truckers get in and out of their vehicles. Drivers can swipe their card, have the load probed for a sample of their commodity and then move to dump their load. Instantly, the sample is graded and when the driver returns he scans his card, the tare is recorded and in less than 25 seconds he receives the scale ticket and is on his way.Transfer commodities with ease
iRely handles multiple scale ticket types: inbound, outbound, transfers, and memo tickets. Transfer tickets can be used to quickly update your position when moving commodity from one location to another. Freight can be calculated for a hauler at the scale. Then you can immediately cut the hauler a check for their deliveries. Direct Shipments are handled through separate locations and can be done in one step. The in-house inventory is never affected and reporting can easily separate direct shipment volumes. iRely Rail allows you to handle inbound, outbound, and direct rail. Automatic calculation of broker fees, multiple freight rates, weights and grades can be based on origin or destination as defined in the contract. You can update freight and brokerage separately for proper end of month accounting.Simplify contract management
iRely knows contract maintenance is a key component to your grain operation. Manage commodity, quantity, price, delivery form, price basis, freight basis, market zone, options and verbiage on the contract. With iRely, you can maintain price, basis, HTA, CN basis, and unit contracts. Save time by using iRely system tools to copy one contract to the next. You can advance against deliveries on a basis contract and use the ‘Basis Advances Equity Report’ to know when you are overexposed. iRely makes it easy to price basis and HTA contracts and maintains the history from the original copy through the pricing amendments.Optimize storage and handling
Manage multiple types of receipted and non-receipted storage. Customer grain bank take outs, selling stored commodity, applying storage to contract, transferring storage, calculating storage charges, DP service fees, and collateral receipts are all handled within the iRely system.
iRely allows you to set up storage schedules to your specifications. iRely can generate your DP/NPE/price-later-contracts as well as grain bank statements. Offsite commodities are tracked in detail by ticket for easy reconciliation when a commodity is sold. The nature of the offsite storage properly affects your company titled stock (DP vs. Storage). In-transit loads are also tracked in detail by ticket so you NEVER lose a load.Leverage load scheduling
Throughout the year, would you like the ability to schedule deliveries against sales contracts? To pick up loads to bring to the elevator or to take loads direct to a processor? iRely load scheduling makes the logistics of grain movement easy to manage. Know what is remaining to schedule and ship at all times against every contract. Dispatch the loads and generate a BOL for the carrier so they know when, where, and how much to pick up and deliver. Establish freight rates in advance so freight is calculated when loads are shipped.
Daily and Monthly Reporting Tools
Closing the grain day takes seconds with iRely’s complete drill down to general ledger, detailed audit reports instantly archived for retrieval later, and printing of all reports necessary for the grain inspector and bank. The end of day close automatically prevents the distribution of tickets during this short process which allows for a clean cut-off and minimal down time. The close can be scheduled to run at the time you specify.
iRely tracks the information for check-off and insurance reports by state and time period. Mark-to-Market is handled very easily with a clean cut-off that, again, only prevents processing for a short period of time. Futures prices and basis are applied later to determine gain or loss and general ledger entries.
Improved Management Reporting
So you don’t have to spend time building queries to obtain desired information, iRely provides you with all the reports you need for successful and efficient management directly within the software. Some of the standard reports included are purchase/sales summary, basis position, basis advances equity report, customer business summary, sales/purchases by state, and inter-location transfers. Purchase/sales summary gives you the ability to compare average grades in with average grades out to analyze how well you blended and managed your commodity over any time period. A huge operational efficiency iRely offers is the ability to review your weighted average prices, cost, and basis from a purchase/sales summary report. If you still desire more information, you can customize reports using XDBC, an SQL database for custom reporting.
The iRely Grain system takes a Green approach. iRely allows for archiving or viewing of reports and only prints what is absolutely necessary. When viewing reports, you have the ability to search details within all your information. You have the ability to electronically distribute contracts, settlements, invoices, DP agreements, Deferred Payment agreements, and customer business summaries. You also have the ability to EFT/ACH your grain payments; and your customers can view their information online through iRely eCommerce. Another Green approach is iRely eForms, which saves printing costs, allows for flexibility in modifying forms, and saves paper and time by using online manuals and video trainings to keep you up-to-date with industry standards and best business practices.
Experience Power and flexibility
iRely gives you the tools to make changes to your customer contracts and prices. You can change system controls when you want to allow delivery on contracts sooner than contracted, due to an early harvest. You can control what options can be tied to a contract. You also can ensure all contracts are signed by tracking who’s signed and who hasn’t. If you know a customer is deferring payment until another date you can enter it on the contract, indicate the date and, as they deliver grain, iRely automatically defers the grain. You even have the choice to print out a special “Deferred Contract Pricing” contract with updated features on when net payments will be made.
Knowing that operators make errors and producers change their minds, iRely makes it easy to undo most transactions including tickets, contracts, checks, or settlements. You can also transfer settlements and storage. iRely also allows you to change inbound grades at a later time and recalculate discounts based on these additional readings.
Throughout the iRely system, drill-down capabilities are available so time and effort isn’t wasted looking for supporting information. You can drill down to the original transaction creating the entry. Accounting entries are produced from running your business so merchandisers do not have to be accountants. Contracts and target orders can be entered by grain buyers while on the phone with customers, saving translation errors and time resulting in NO LOST CONTRACTS.